Report: EU Economy Facing Historic 'Shock' From Coronavirus

The European Commission forecasts a severe economic downturn for the EU, with a 7.4% decline in 2020 due to COVID-19. Countries like Greece, Italy, and Spain face significant economic challenges, with Greece's economy expected to shrink by nearly 10%. The recovery is predicted to be uneven across the EU. The EU's economic health is crucial as it is a major trading partner for China and the US.

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