Ambient- and high-pressure studies of structural, electronic, and magnetic properties of single-crystal <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML"><mml:mrow><mml:msub><mml:mi>EuZn</mml:mi><mml:mn>2</mml:mn></mml:msub><mml:msub><mml:mi mathvariant="normal">P</mml:mi><mml:mn>2</mml:mn></mml:msub></mml:mrow></mml:math>

A thorough study of ${\mathrm{EuZn}}_{2}{\mathrm{P}}_{2}$ single crystals, which were grown from Sn flux, was performed using both bulk (heat capacity, ac susceptibility, dc magnetization, electrical resistivitivity, magnetoresistance) and microscopic (M\"ossbauer spectroscopy) techniques. Electrical resistance and magnetic susceptibility were measured also under high pressure conditions (up to 19 and 9.5 GPa, respectively). Further insight into electronic properties and phonons is provided by ab initio calculations. The results indicate that ${\mathrm{EuZn}}_{2}{\mathrm{P}}_{2}$ is an antiferromagnet with strong Eu-Eu exchange coupling of ferromagnetic type within the basal plane and weaker antiferromagnetic interaction along the $c$ axis. The Eu magnetic moments are tilted from the basal plane. Hydrostatic pressure strongly affects both magnetic (increase of the N\'eel temperature) and electronic (suppression of the band gap and semimetallic behavior) properties, indicating a strong interplay of structure with magnetic and electronic degrees of freedom.