The president of the Eurogroup, Paschal Donohoe, admitted on Friday 9 September in Prague that there is a “risk of recession” for the euro area due to the repercussions of the Russian invasion of Ukraine.
“We recognise that there is a risk for the future”, but the fundamentals of our economy remain sound, Donohoe said, citing the current low level of unemployment. He referred to the ECB’s baseline scenario, unveiled the day before, which continues to forecast growth (0.9% of GDP...