The European Commissioner does not rule out a recession in the eurozone due to high gas prices

European Commissioner for Economic Affairs Paolo Gentiloni said that he does not rule out the possibility of a recession in the eurozone due to rising gas and fuel prices there.

The European Commissioner acknowledged that the upcoming winter could be “one of the worst in the history of the region.”

“No one can rule it out,” Gentiloni added in an interview with the German magazine Spiegel in response to a question about whether the eurozone would slide into recession in light of record gas prices.

“The current inflation is causing upheavals and upheavals in our economy and the coming winter could be the worst winter in history,” the European official continued.

According to him, the EU is experiencing “an absolutely unprecedented state of uncertainty.”

“At the same time, the performance of the EU economy as a whole remains positive, and the situation on the labor market is good,” Gentiloni said.

Source: RIA Novosti

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