The pandemic is dealing a crushing blow to the euro-area services industry,
which makes up three quarters of its economy and whose resilience was crucial to offset a manufacturing slump last year.
With the outbreak forcing airlines to cancel flights, governments to suspend schools and impose nationwide lockdowns, the first recession since 2013 appears all but inevitable.
EU finance ministers meet in Brussels on Monday
“We want to ensure that we are able to preserve our companies, able to preserve jobs as much as possible so we avoid more lasting damage to the economy,” Commission Vice President Valdis Dombrovskis told Bloomberg Friday.