Regarding the impact on the European economy, former Prime Minister Mario Draghi declares "there will be a recession in the EU by the end of the year"

Regarding the impact on the European economy, former Prime Minister Mario Draghi declares "there will be a recession in the EU by the end of the year"

Former Prime Minister Mario Draghi spoke about the impact on the European economy, stating that it was probably mitigated by the low level of unemployment. “It's pretty clear that the first two quarters of next year will demonstrate that.”
The former prime minister, Mario Draghi, declared, in a conference of Financial Times, which provides that Europe: “It's almost certain that we will have a recession by the end of the year. It's pretty clear that the first two quarters of next year will demonstrate that."

“Either Europe acts together and becomes a deeper union, a union capable of expressing a foreign policy and a defense policy, in addition to all economic policies or I fear that the European Union will not survive except as a single market ”, declared former Prime Minister Mario Draghi.
“The European economy has lost competitiveness over the last 20-plus years, compared not only to the United States but also to Japan, South Korea and, of course, China”, he added, explaining that “To have an economy that can support an aging society at the rate we have in Europe, we need to have much higher productivity.”

The European Commission has commissioned former Prime Minister Mario Draghi to draw up a report describing possible intervention options to address the erosion of global competitiveness.
Regarding the current situation he stated that “The starting point of this recession is quite high: we have never had unemployment this low. So we might have a recession, but maybe it won't be destabilizing. It's pretty clear that the first two quarters of next year will demonstrate that."