Merkel Warns of Very Tough Times Ahead

“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,” Bloomberg reports.

“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.”