The EU's statistics agency says early analysis suggests eurozone GDP fell by 0.7% in the last quarter and 6.8% across 2020.
In this edition of Real Economy, we take a look at the European Green Deal and the role of the European Social Fund (ESF) in creating new green jobs and supporting training in green skills.
"The fact we have this downturn does create some room for accelerating what needed to happen anyway: the green deal and digitisation," said the ECB's chief economist Philip Lane.
Fixing and updating electronics is cheaper and more energy efficient than buying new ones.
The European Union could use its seven-year budgetary plan to tackle inequalities that have been exacerbated by the COVID-19 pandemic, leading European thinktank Bruegel says.