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Europe faces hundreds of billions of euros in production losses

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Coronavirus

Data from Germany-based Ifo Institute for Economic Research indicates that the coronavirus outbreak could cost Europe hundreds of billions of euros in lost production, ICIS reports. The institute's president Clemens Fuest said, "If the shutdown lasts for more than a month, the production losses will quickly reach dimensions that are well beyond the growth slump of previous recessions or natural disasters, at least in the history of the European Union."

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