September 1, 2023

Europe is facing the impact of a “double crisis,” but the region can avoid a recession, Paolo Gentiloni, the European Commissioner for economic affairs, told CNBC on Saturday.

“I think we are we facing the impact of the double crisis,” Gentiloni said in reference to the geopolitical impact from Russia’s full-scale invasion of Ukraine and the subsequent economic hit to the European continent.

“From a geopolitical point of view, [the crisis] impacted also, of course, the U.S. and all the world, but from the economic point of view, it impacted seriously Europe and Germany in particular,” he said.

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https://www.cnbc.com/2023/09/02/economy-europe-can-avoid-a-recession-eu-gentiloni-says.html