Bank of America forecasts a deep recession in Europe with the economy shrinking almost 8% this year

· Bank of America sharply cut its 2020 growth forecast for Europe from 1% expansion to a 7.6% contraction.
· More fiscal support is "urgently needed" to avoid bigger damage, the bank said in a note on Thursday.
· The European economic chokehold, however, is expected to be temporary as BofA analysts anticipate GDP growth of...