Hi, I'm Ralpow, co-founder and CEO of Real Vision. Thank you so much for listening to the Real Vision

podcast.

At Real Vision, we pride ourselves in providing the best in-depth expert analysis available to help you understand the complex world

of finance, business and the global economy.

If you like what you hear, I hope you'll accept my invitation to try Real Vision Plus for 30 days for just

one dollar. Visit real Vision Podcast.com today and join us as we navigate the financial

world together.

Cheers. Welcome to the Real Vision Daily Briefing. It's Wednesday, May 7th. I'm Peter Cooper and we have

Real Vision's managing editor Ed Harrison and Roger Hurst standing by to give you their macro analysis.

But before we go to them, let's go over the latest developments in the news. Today I'm going to dive into what's going on in the Eurozone

and what its economic future would look like over the coming months and then I'll

hone in on Italy and where they're at now. The European Commission released a

forecast saying that the Eurozone's economy will contract by 7.7% this year

due to the COVID-19 outbreak. As a result, inflation will slow to 0.2% this year,

and the aggregate budget deficit will climb up to 8.5% of GDP as

compared to 0.6% last year.

The countries in the Eurozone who face the most difficult path to recovery are Greece, Spain, Portugal and Italy.

Italy's GDP is forecasted to contract 9.5 percent, second behind Greece at 9.7 percent.

Italy's budget deficit will reach a second behind Greece at 9.7%.

Italy's budget deficit will reach 11.1% of GDP

from 1.6% last year, and their debt will be at 158.9% of GDP this year.

As we know, Italy's battle with the coronavirus

...