Deep Recession in European Union

There is a projection for a deep recession and immense unemployment in Europe. The troubling times that were living in have made stocks drift as oil prices have reversed their early gains. The European Union's economy is expected to shrink by 7.4 percent this year, as investment is expected to fall drastically and unemployment, debts, and deficits with grow beyond measure. The European Commission states that the aftermath of the coronavirus pandemic will be brutal. In comparison, the EU's economy was supposed to grow 1.2 percent this year, and in its worst recession ever it only shrank by 4.5 percent. The breath of this recession is set to be devastating. The two countries who suffered the most by the disease, Italy and Spain, will shrink by more than 9 percent each. Further, Greece is forecasted to suffer the most, losing 9,7 of its economic output this year. The repercussions of the coronavirus are not just lives, but also the potential prosperity of people all over Europe. How do you think the EU will respond and try to smoothen the blow?