Inflation rates within the Eurozone countries have seen a decrease in the previous month of August. Nonetheless, unemployment rates across the different EU countries have increased.
Countries worldwide have been suffering economically from the consequences of the coronavirus pandemic. This is no different from the Eurozone, where the GDP has declined massively for the first time in 25 years.
Irish finance minister Paschal Donohoe has been picked as the new president of the Eurogroup, a key role as Europe sits in the depths of its deepest recession since World War II
Who will be the next Eurogroup president? Eurozone finance ministers will meet to elect a new president, filling a key job just as the continent is facing the worst recession in EU history.
The eurozone economy will plunge 8.7% in 2020 due to the coronavirus crisis, the European Commission said in more pessimistic forecasts that do not see a complete rebound next year
The new coronavirus has brought social and economic life to its knees across the European Union. However, European leaders have begun laying the foundations for a return to normality as soon as the coronavirus crisis ends.
The unemployment rate in the European Union has dropped in August, in comparison to the previous month and the same month last year. This rate is in fact the lowest joblessness rate the eurozone has reached since May 2008.