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Economy commissioner Paolo Gentiloni said he was confident EU leaders would approve a recovery initiative in June (Photo: European Commission)

EU set for record recession, putting euro at risk

The EU is heading for a historic economic recession on the back of the coronavirus pandemic, and a patchy rebound could put the single currency at risk.

The eurozone is projected to contract by 7.75 percent and the EU to be hit by 7.5 percent this year, according to a forecast published by the commission on Wednesday.

"It is now qui...

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Economy commissioner Paolo Gentiloni said he was confident EU leaders would approve a recovery initiative in June (Photo: European Commission)

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