reply The European Union is in its worst recession ever

On June 8 local time, after being closed for nearly three months due to the COVID-19 outbreak, Belgium's national catering industry reopened and primary and secondary schools reopened. At the same time, France, Italy, Spain and other European countries are also accelerating the implementation of the "reset." All sectors in Europe have called for the speedy implementation of the recovery plan to alleviate the severe economic crisis while continuing to contain the epidemic.Gross domestic product in the European Union and the euro zone fell by 3.2 percent and 3.6 percent respectively in the first quarter of this year, the biggest quarterly decline since 1995, according to the latest statistics released by eurostat on June 9. Due to differences between the national epidemic situation and prevention and control measures, the outbreak of the European Union countries have different degree of impact, but in addition to Ireland, Romania, Bulgaria and Swedish economy barely a faint quarter-on-quarter growth, other all eu and eurozone members of economic contraction, France and Italy are both a - 5.3% of the economic recession, Spain and Slovakia also encounter - 5.2% of the economic slump.In terms of industry, trade, transportation, tourism, catering, art, entertainment and other service sectors were the hardest hit by the epidemic in the first quarter of 2020, with their total volume dropping by more than 6.8% year-on-year. Agriculture and businesses that produce daily necessities have been relatively unaffected.The epidemic is also putting pressure on the job market. Employment in the European Union and the eurozone fell 0.1 per cent and 0.2 per cent year-on-year respectively in the first quarter of this year, ending sustained employment growth since the second quarter of 2013.Of particular concern is the unusually severe downward pressure on the German economy. In recent years, Germany has been acting as the locomotive of the European economy. Trade is the cornerstone of the German economy. Under the adverse impact of anti-globalization and rising trade protectionism, German foreign trade has already encountered a difficult situation in the fourth quarter of 2019. According to the latest data released by the German Federal Statistics Office on June 9, Germany's total foreign trade in April 2020 was 75.7 billion euros, down 24% year-on-year and the biggest one-month decline since records began in 1950. Germany's trade surplus also fell to its lowest level in nearly two decades.In its Spring 2020 European Economic Outlook, released on 6 May, the European Commission made it clear that the EU was suffering its worst recession in its history as a result of the unprecedented global pandemic.According to the European Commission, the EU's economic output in the first quarter of 2020 was almost 16% lower than in the fourth quarter of 2019. While economic activity in the EU is expected to recover as economic recovery plans are implemented and containment measures are gradually lifted, gross domestic product is expected to contract by 7.4 per cent in 2020, compared with 4.3 per cent at the height of the financial crisis in 2009. The eurozone economy will be hit even harder, with GDP forecast to fall by a hefty 7.75 per cent.To cope with the unprecedented economic crisis, the European commission at the end of may launched a recovery plan called "next generation", the eu in 1.1 trillion euros multiyear budget on the basis of an additional 750 billion euros of special recovery fund, to support each member to overcome new crown outbreak of the crisis, and advance the eu to realize "green economy" and "digital strategy" two big transformation and upgrading of the target.Given that the eu has been deeply divided on the issue of "debt sharing", the approval of the huge recovery plan drawn up by the European Commission in the short term will depend on the EU's political mediation and the willingness of all parties to compromise.European Commission President Von der Leyen recently called on all EU countries to put aside their inherent prejudices in the face of major crises and review and approve multi-year budgets, including the eu's next Generation recovery plan, as soon as possible, so as to turn the crisis into an opportunity and strengthen the foundation for the future development of the EU.In a recent speech to the European Parliament, European Central Bank President Christine Lagarde also warned that the recovery plan needed to be implemented as soon as possible and that any delay would cause serious "spillovers" that would increase the costs and uncertainties of overcoming the economic crisis.On behalf of more than 20 m European industrial enterprises of the employers' association said recently, "the eu next generation" put forward by the European commission recovery plan, to get rid of the disease caused by European economic crisis provides an effective solution, urged the European Union countries approved the plan immediately, and with the spirit of unity and cooperation to speed up the implementation, confidence and motivation for the resumption of the eu economy.