71.   This could include shocks such as war, natural disaster or a sudden sharp fall in the dollar, but will also likely cover a severe recession.

72.   Venezuela is suffering a severe recession that has lasted three years.

73.   Germany had initially attempted to persuade its partners that sanctions should be automatic except in severe recessions.

74.   He told parliament this would be made easier by the continuing economic recovery after three years of severe recession.

75.   Countries will be able to escape the sanctions in certain cases but only if they can show that their economy has been subject to severe recession.

76.   The commission is keen to maintain a clause whereby countries could escape sanctions if they are subject to a severe recession.