💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Italy PM sees Europe in 'hard, severe' recession post-coronavirus

Published 03/26/2020, 06:28 AM
Updated 03/26/2020, 06:30 AM
© Reuters. Italian Prime Minister Giuseppe Conte gives an update on the coronavirus outbreak in Italy

ROME (Reuters) - Italian Prime Minister Giuseppe Conte said on Thursday all of Europe would be hit by a "hard, severe" recession following the coronavirus emergency and special measures were needed to mitigate its impact.

In an address to the Senate, Conte said Europe would only be able to "face the shock with extraordinary and exceptional measures".

With Italy in lockdown for the last two weeks and its economy on its knees, Conte on Wednesday promised a second stimulus package in April worth more than the 25 billion euro ($27.35 billion) one he adopted in March to deal with the impact of the health crisis.

© Reuters. Italian Prime Minister Giuseppe Conte gives an update on the coronavirus outbreak in Italy

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.