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The EU's GDP is expected to fall by 7.4% and that of the eurozone by 7.8% in 2020, according to forecasts published by the Commission on 5 November, upwardly revised compared with July's forecasts (-8.7% and -8.3%). The Commission forecasts a recovery of 4.2% in 2021 and 3% in 2022, but the Union's GDP is not expected to return to its pre-pandemic level before the end of 2022. Debt in the eurozone, estimated at 85.9% of GDP in 2019, is expected to grow until 2022 and represent 102.6% of GDP. The unemployment rate is also expected to continue rising until 2021, reaching 8.6% in the EU and 9.4% in the eurozone. Inflation in the EU and the euro area is expected to reach 1.5% and 1.3% in 2022.

The Parliament and the Council reached a provisional agreement on 5 October on the creation of a conditionality mechanism which makes access by Member States to funds from the EU budget and the recovery plan conditional on respect for the rule of law and the Union's values. Funds will also be suspended if Member States are suspected of fraud or corruption with a view to preventing misuse of the Union budget. Beneficiaries such as students or farmers will be able to lodge complaints online to receive funds they have not received due to misconduct by their State.

On 3 November, the ministers of the 19 members of the Eurogroup discussed the development of the world economy and the eurozone during the pandemic. They continued to prepare the implementation of the €672.5 billion Recovery and Resilience Facility. They took stock of the implementation of the measures introduced by the EU in the spring, such as the SURE programme, the European Investment Bank's Guarantee Fund and the credit line to support the health crisis. The priorities of the Supervisory Board of the European Central Bank and the Single Resolution Council were presented.

On 6 November, the Council renewed for one year the sanctions against two Turkish nationals for drilling for oil in Cypriot territorial waters. Decided in February 2020, these restrictive measures consist of a ban on entry into EU territory and an assets freeze. In addition, people and entities from the EU are not allowed to make funds available to them.

On 3 November, Austrian Chancellor Sebastian Kurz spoke out following the terrorist attack, on 2 November, responsibility for which was claimed by the Islamic state, leaving four people dead and 15 injured. He said that "we must and will fight terrorism by all means" but also warned against division and amalgamation which would play into the hands of terrorists. The event prompted many reactions from other EU countries.

During a trip on 5 November, French President Emmanuel Macron said he was in favour of a complete overhaul of the Schengen area of free movement. He called for better protection of internal borders to limit "secondary" immigration and also called for tighter controls at external borders. It calls for the interior ministers of the Schengen Member States to meet more regularly to decide on common rules. He indicated that he would make proposals to this effect at the next European Council.

On 9 November, the leading right-wing coalition in the 25 October parliamentary elections, comprising the Homeland Union-Christian Democrats, the Liberal Movement and the Freedom Party, signed a coalition agreement to form a government led by Ingrida Simonyte, who led the Homeland Union-Christian Democrats list. The agreement also sets out the broad lines of policy to be pursued by the new government, including an increase in teachers' salaries, the legalisation of same-sex civil unions and a green deal.

The Polish government suspended publication in the Official Gazette of the Constitutional Court decision of October 22 restricting the right to abortion. The Tribunal's decision, which should have been published by November 2 in order to enter into force, triggered a wave of protest throughout the country.

The President of the Commission Ursula von der Leyen and the British Prime Minister Boris Johnson exchanged views on 7 November on the progress of the negotiations for the future of relations between the European Union and the United Kingdom. "Progress has been made, but "major differences" remain, particularly on fisheries and fair competition. The EU's chief negotiator Michel Barnier arrived in London on 9 November to try to reach an agreement.

Armenia and Azerbaijan signed a Russian-sponsored ceasefire on the night of 9-10 November to end their fighting in Nagorno-Karabakh. According to the agreement, the Azeri forces will keep the territories conquered since the beginning of the conflict at the end of September, and in particular Shushi, a town located between Stepanakert, capital of Nagorno-Karabakh, a self-proclaimed republic with an Armenian majority, and Armenia. In Yerevan, demonstrators invaded the Armenian Parliament to protest against the agreement.

Kosovo President Hashim Thaci announced his resignation on 5 November after the Special Court in The Hague confirmed his indictment for war crimes during the conflict with Serbia in 1998 and 1999. The Speaker of Parliament Vjosa Osmani is acting as interim President. Detained in Scheveningen prison in The Hague, Thaci pleaded not guilty at his first court appearance on 9 November.

The European Convention on Human Rights celebrated its 70th anniversary on 4 November. It was signed in Rome on 4 November 1950 by the member states of the Council of Europe, and on behalf of France by Robert Schuman, then Minister of Foreign Affairs. On the occasion of this anniversary, the Ministers of Foreign Affairs of the 47 Member States re-asserted their commitment to unity in Europe and greater solidarity between nations. In a declaration not signed by Greece, Hungary, Turkey and Azerbaijan, the ministers recalled that the Convention "clearly sets out impassable 'red lines' that cannot be crossed, even in times of serious public health crisis".

On 5 November the European Court of Human Rights condemned Greece for violating the freedom of expression of a journalist sentenced to 3 months in prison for publishing an article describing a high school headmaster as a neo-Nazi. The Court criticised the Greek court for not having sufficiently verified whether the exercise of the journalist's freedom of expression actually infringed the high school headmaster's private life. It considers that the conviction of the journalist had a deterrent effect on public debate and that the headmaster had exposed himself to public attention and journalistic criticism by publishing articles in favour of the dictatorship of the colonels and the neo-Nazi party Golden Dawn.

On 2 November, the OECD published the official list of candidates nominated by member countries for the post of Secretary-General of the organisation, currently held by José Ángel Gurría of Mexico. Of the 10 candidates, 6 come from European Union Member States. The candidate selected by the OECD Council after interviews with its members will take office on 1 June 2021 for a five-year term.

On 2 November, the IMF published a report on France's economic outlook. It forecasts GDP growth of 5 to 6% in 2021, which will depend on the development of the pandemic and the measures adopted to deal with it. It recommends continuing to provide strong and flexible financial support in the context of the second wave.

In a report published on 6 November, the National Audit Office (NAO) highlights the UK's lack of preparation with less than 2 months to go before the end of the transition period for its withdrawal from the European Union. It notes that the transit zones for trucks are not ready, that computer systems have not been tested and that there are not enough customs officers. In the scenario of no agreement with the Union, up to 7,000 lorries could find themselves stuck in Kent with up to 2 days waiting to cross the Channel.

From 13 to 22 November, the EFG London Jazz Festival, one of the world's largest of its kind, will be held entirely online. This 9-day festival aims to draw together world-class artists such as Orphy Robinson with young British creators and musicians for several dozen concerts over 9 days.