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EU GDP decline sets record
Against the backdrop of the coronavirus pandemic in the European Union, economic indicators are falling significantly. The precautions introduced to prevent the increase in the incidence of infection lead to extreme financial instability in various areas.
The crisis provoked by coronavirus infection irreconcilably pushes the EU to unpredictable consequences. For the first quarter of 2020, the GDP of European countries fell by 2.6% in annual terms, a similar situation was observed only in 2009. In the fourth quarter of 2019, the indicator was reduced by 3.3%. There has not been a similar situation in the entire history of observations by analysts since 1995.
Further developments in the economy of the European Union will depend on the timing of the lifting of restrictive measures and steps taken by the authorities to support the affected industries in the countries....