European Commissioner for Economic and Financial Affairs, Paolo Gentiloni, predicted recession in the Eurozone, severity of which he connected to the duration of the coronavirus outbreak.

The comment was made during a video conference with Klaus Regling, Managing Director of European Stability Mechanism and Mario Centeno, Portuguese Finance Minister and Eurogroup chief.

Regling in turn said that the most "suitable" way to respond to the coronavirus crisis is to use the Enhanced Conditions Credit Line (ECCL).

On Thursday, EU Finance ministers agreed on a 500-billion-euro emergency plan to help tackle the consequences of the pandemic.

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Associated Press 11 May 2020 11:44 CEST

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