EU heading for 5-10% economic contraction in 2020-Breton
European Union, we’re on course for a 5% to 10% (recession), meaning it’s about 7.5%
FILE PHOTO: A European flag is seen outside the EU Commission headquarters in Brussels, Belgium November 6, 2019. REUTERS/Yves Herman
European Union Industry Commissioner Thierry Breton said on Friday the EU was heading this year towards a 5-10% economic contraction due to the new coronavirus outbreak.
"As of today, in the European Union, we're on course for a 5% to 10% (recession), meaning it's about 7.5%. But that is today, and if things don't improve and if we have a second peak (of the outbreak), things could get worse", Breton said on France 2 television.
