European economy falls into worst recession on record
The European economy has fallen into its worst recession on record as strict quarantine measures earlier in the year brought economic activity to an abrupt halt.
According to figures released on Friday by Eurostat, the European Union’s statistics agency, gross domestic product dropped by 11.9 percent in the second quarter for the 27 member countries of the European Union, and by 12.1 percent in the 19 countries that use the euro as currency.
The economic blow particularly affected the countries hardest-hit by the virus, including Italy, Spain and France, whose economies shrunk by 17.3, 22.1 and 19 percent, respectively, compared to the same time last year. The new statistics come a week after the EU reached a $2 trillion deal on a coronavirus recovery package.
Europe has seen a dip in coronavirus cases in recent months as they inch toward reopening businesses and industries, such as tourism.
https://thehill.com/policy/international/509943-european-economy-falls-into-worst-recession-on-record
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