(Bloomberg) -- German Chancellor Angela Merkel warned her fellow leaders that the European Union is facing its deepest recession since World War II and that will lead to very, very difficult times indeed, according to officials familiar with her comments.
She wondered whether people have understood exactly what this means and cautioned that the EU has every interest in having a recovery plan in place by the end of the summer ahead of events like the U.S. election in the fall , one of the officials said.
She said that the leaders need to meet in person as soon as possible.
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