Fitch Ratings: Risk of eurozone recession rises as gas rationing looms
|"The likelihood of gas rationing in Europe has increased significantly following the recent disruption of Russian natural gas supplies through the Nord Stream 1 pipeline," Fitch Ratings said in a report published on Thursday. "A technical recession in the eurozone is now an increasing possibility."
Market reaction
The shared currency stays under selling pressure on Thursday and the EUR/USD pair was last seen losing 0.3% on the day at 1.0408. Meanwhile, Euro Stoxx 600 Index is down more than 2%, pointing to a risk-averse market environment.
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