The economic prospects for Europe have brightened. That’s what several representatives of the EU Commission said on Monday before the European finance ministers discussed the matter in Brussels. “We have some encouraging news,” said EU Economic Commissioner Paolo Gentiloni. “There is a chance to avoid a severe recession.” Contrary to what was previously expected, the economy may shrink only slightly. The situation is still uncertain. However, energy dependency on Russia has been significantly reduced, energy prices have fallen significantly again and inflation has peaked in 2022. The Vice President of the European Commission, Valdis Dombrovskis, made a similar statement: The EU is not yet out of the woods. A severe recession, which had been predicted a few months ago, could possibly be prevented. “But I think we have to stay vigilant.” France’s Finance Minister Bruno Le Maire said the surprisingly good news recently was a sign of the solidity of the European economy.