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Banks

EU, euro zone very likely in recession this year due to virus, Commission says

BRUSSELS (Reuters) - The European Union and the euro zone are very likely to be in a recession this year because of the coronavirus outbreak, a top economic official of the European Commission said on Friday.

“It is very likely that growth for the euro zone and the European Union as a whole will fall below zero this year and potentially even considerably below zero,” Maarten Vervey, head of economic affairs of the EU executive told a news conference in Brussels.

Reporting by Francesco Guarascio @fraguarascio; Editing by Catherine Evans

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