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EU Warns Pandemic Economic Recession Will Be Worst in History

HeadlineMay 07, 2020

In Brussels, European Union leaders warn the 27-nation bloc is facing the worst recession in its history, with forecasters projecting a 7.4% drop in economic output. The dire news came as Germany began a phased reopening of its economy, with schools, day care centers and some restaurants set to reopen with social distancing rules in effect. In Italy, COVID-19 deaths have hit a nearly two-month low, while France is set to end its lockdown on May 11.

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