The European Commission's pessimistic forecast suggests the bloc will not see a complete rebound next year despite a 6.1 percent bounce back in 2021
European Commission President Ursula von der Leyen and European Council President Charles Michel had video calls with Chinese Premier Li Keqiang and President Xi Jinping, where they discussed ties, as well as China's security law for Hong Kong.
Since the pandemic hit Europe, the Lufthansa group has been bleeding one million euros per hour, with around 90 percent of its 760-aircraft fleet grounded.
The new facility could buy stakes in, or offer loans to, companies in sectors such as healthcare, space, defence, digital and green technologies.
Investors focused on the positives despite growing US-China tensions stalling recovery for equities in May, amid signs that many European economies are coming back to life.
The global coronavirus pandemic has affected almost 5 million people, with around 320,000 deaths. Here are more coronavirus-related updates for May 19:
The European Commission aims to halve the use of chemical pesticides by 2030 to prevent the decline of bee colonies.
The European Medicines Agency is also looking at therapeutics to help deal with the effects of the coronavirus, some of which could see approval by this summer.
“Europe is experiencing an economic shock without precedent since the Great Depression,” EU Economy Commissioner Paolo Gentiloni says, as output drops more than 7 percent due to coronavirus outbreak.
Hundreds of thousands of Syrians migrated to Germany during the Syrian civil war, and many are now helping Germany overcome the deadly pandemic.
EU leaders agree that a much bigger bail out is required. How this is structured is dividing Europe and opening old wounds.
In an interview with Italy’s Corriere della Sera paper, European Stability Mechanism Managing Director Klaus Regling said the easiest way to organise such funds would be via the European Commission and the EU budget.
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