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Coronavirus: will the European economy be rescued?


Coronavirus: the European economy has been put to the test during the lockdown. Will the European Union be able to use this unique moment for strengthening solidarity and cohesion?

Coronavirus: the European economy has been put to the test during the lockdown. Will the European Union be able to use this unique moment for strengthening solidarity and cohesion?

Coronavirus: the European economy. Women wearing protective masks walk with their bikes in the park in the Porta Nuova district, as Italy begins a staged end to a nationwide lockdown due to a spread of the coronavirus disease (COVID-19), in Milan, Italy May 4, 2020. REUTERS/Flavio Lo Scalzo
Women wearing protective masks walk with their bikes in the park in the Porta Nuova district, as Italy begins a staged end to a nationwide lockdown due to a spread of the coronavirus disease (COVID-19), in Milan, Italy May 4, 2020. REUTERS/Flavio Lo Scalzo

The Covid-19 pandemic is not only a disastrous global health crisis, but has also had a massive impact on worldwide economies. With a predicted GDP decrease of over 7 % percent and the forecast loss of 12 million workforces in 2020, the European Union has been put to the most crucial test since its foundation; a test which will either showcase the EU’s functioning through successful recovery efforts, or severely threaten its raison d’être in case of failure.

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