European Commissioner for Economy Paolo Gentiloni discusses his outlook for the global economy, the headwinds Europe is facing and the likelihood of a recession in the region. He speaks on Bloomberg Television on the sidelines of the G-20 Summit in India.
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The European Union’s economy has been facing challenges in recent years, and there have been concerns about a potential recession or stagflation. However, the EU’s Economy Commissioner, Paolo Gentiloni, believes that these fears are unfounded, and that the EU will be able to weather the economic storm.

One of the main reasons for Gentiloni’s confidence is the EU’s strong economic fundamentals. He notes that the EU’s economic growth has been steady, with a projected growth rate of 1.2% in 2020. He also points to the EU’s low unemployment rate, which currently stands at 7.5%, as another indicator of a strong economy.

In addition to these fundamentals, Gentiloni believes that the EU’s recent economic policy changes have also helped to stabilize the economy. For example, the EU has implemented a number of policies aimed at boosting investment and growth, such as the European Investment Plan and the Capital Markets Union.

Furthermore, Gentiloni notes that the EU is taking steps to address external economic risks, such as the ongoing trade tensions between the US and China. The EU has been working to strengthen its trade relationships with other countries and regions, such as Canada and Latin America.

Despite these positive developments, Gentiloni acknowledges that there are still challenges facing the EU’s economy. For example, he notes that there is still work to be done in terms of ensuring that economic growth is inclusive and benefits all citizens. He also acknowledges that there are risks associated with digitalization and climate change that must be addressed.

Overall, however, Gentiloni is confident that the EU will be able to overcome these challenges and maintain a strong, stable economy. He believes that the EU is well-positioned to tackle current and future economic challenges, and that its economic policies and fundamentals will help to ensure continued growth and prosperity for all EU citizens.