(Bloomberg) -- Europe's single-currency area is in the throes of a “sudden, severe, and sychronized” drop in export demand inflicted by the global shutdown to contain the coronavirus. That's what the European Commission said on Wednesday, observing that the region's advanced integration in the global economy makes it more vulnerable to such a shock. Demand will rebound in 2021, but only “incompletely” because of the lingering effects of the pandemic throughout the world, officials predict.
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