The European Commission predicts a “historic” recession in the European Union.

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The European Commission predicts a “historic” recession in the European Union this year with a record drop in GDP of 7.7% in the eurozone, followed by a rebound of 6.3% in 2021.

The countries expected to experience the most severe recessions are Greece (-9.7%), Italy (-9.5%), and Spain (-9.4%), which are highly dependent on tourism.

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