Gentolini: The EU is in recession this winter, there will be no growth before spring

Europe will enter recession this winter, and there will be no growth before spring, European Economic Commissioner Paolo Gentiloni said today.

“We will have a recession this winter,” he told reporters before the start of the Eurogroup meeting in Brussels, Reuters reported.

The risk of a recession in the Eurozone is being talked about more and more often

The growing risk of a recession in the Eurozone has been discussed for months due to concerns that the winter energy crisis will cause a drop in economic activity. Back in September, economists warned that it seems almost inevitable.

That it is not only Europe that is in trouble is also indicated by the IMF’s warnings on the risk of a global recession during the next year as early as October.

The Director General of the International Monetary Fund, Kristalina Georgieva, and the President of the World Bank, David Malpas, warned at the time of the growing risk of a global recession, with inflation remaining a constant problem after the Russian invasion of Ukraine.