Europe Has Chance to Avoid Deep Recession, EU’s Gentiloni Says
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Europe has an opportunity to avoid a deep and prolonged recession though the economic situation remains uncertain, the European Union’s economy commissioner, Paolo Gentiloni, said Monday.
“We managed to reduce energy dependence, energy prices went down significantly, and inflation peaked at the end of last year in Europe, so there is a chance to avoid a deep recession and maybe to enter a more limited, shallow contraction,” he told reporters in Brussels.