Climate shocks could cost eurozone 5 percent of GDP
UE, NATO, Politica externa
FRANKFURT Climate disasters such as droughts, wildfires, floods and storms could slash up to 5 percent off the eurozone's GDP by 2030, economists warned in an ECB blog post. Under a severe scenario, the 20-member eurozone would suffer an economic hit not only from a series of natural hazards at home but also those abroad that would hit its supply chains. The total shock could be "a downturn similar in magnitude to the economic impact of the Global Financial Crisis," the blog post said, warning
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