Brussels warns: Coronavirus Pandemic Threatens the Future of the Eurozone
There are 3.75 million confirmed cases of coronavirus worldwide
According to Johns Hopkins University data, the number of confirmed cases stood at 3,755,341 on Thursday, with at least 263,831 lives lost in the coronavirus pandemic so far.
New Zealand will consider easing restrictions to ‘level 2’
New Zealnd’s prime minister, Jacinda Ardern, announced the country may ease restrictions significantly, with a decision to be taken on Monday. The easing of restrictions, which would include allowing bars and hairdressers to open, and gatherings of up to 100 people, would come into effect from Wednesday 13 May. The country responded with jubilation, with some posting on social media that they burst into tears during Ardern’s announcement.
China exports see surprise 3.5% jump in April, imports fall
China’s exports saw a shock 3.5% rise in April despite a hit to external demand from the coronavirus pandemic, official figures showed Thursday. But imports fell 14.2% from a year ago, a steeper drop from last month, according to the Customs Administration.A forecast of analysts by Bloomberg had predicted an 11% dive in exports and a 10% plunge in imports.
Brazil confirms record daily cases and deaths
Brazil, one of the world’s emerging coronavirus hotspots, registered a record number of cases and deaths on Wednesday, prompting the health minister to flag the possibility of strict lockdowns in particularly hard-hit areas. According to health ministry data, the nation registered 10,503 new confirmed cases of the novel coronavirus in the last 24 hours, well above the previous record of 7,288 cases on April 30. Brazil also registered 615 deaths, up from the previous record of 600 on Tuesday.
White House coronavirus taskforce will “continue on indefinitely”
In a reversal from comments by US vice president Mike Pence yesterday suggesting the coronavirus taskforce’s work would be winding down, Donald Trump said it would continue indefinitely. The president said on Wednesday he “had no idea how popular the taskforce is.”
Trump suggests more deaths a necessary price
US President Donald Trump has again suggested the country may need to accept the reality of more deaths in order to start reopening the economy.“We have to be warriors,” Trump told Fox News’ John Roberts when asked if Americans should expect additional deaths as the country looks to reopen. “We can’t keep our country closed down for years.”
US sees first detained immigrant death from coronavirus
A 57-year-old person in immigration custody died Wednesday from complications related to the coronavirus, authorities said, marking the first reported death from the virus among about 30,000 people in immigration custody.
Coronavirus threatens eurozone’s future, Brussels warns
The eurozone faces an existential threat if the economic recoveries of its 19 member states are insufficiently even, the EU’s economic commissioner warns. Some countries are expected to suffer significantly more than others during what is expected to be the deepest recession since the Great Depression.
The coronavirus pandemic threatens the future of the eurozone by creating huge economic divisions between its 19-member states during what is expected to be the deepest recession since the Great Depression, the European commission has warned.
The EU’s economic commissioner, Paolo Gentiloni, said there was an urgent need to mitigate the inevitable exacerbation of existing social and economic fissures, as countries emerge at different speeds from the unprecedented economic downturn.
The economic output of the eurozone is likely to shrink by a record 7.75% in 2020 and rebound by just 6.25% in 2021, with unemployment rising from 7.5% in 2019 to 9.5%.
Gentiloni said economic activity in the EU as a whole had “dropped by around one-third practically overnight” owing to the lockdowns imposed by European governments.
More than 1.1 million people have contracted the virus across Europe and more than 137,000 have died, according to the European Centre for Disease Prevention and Control (ECDC)./The Gurardian
WHO warns of more lockdowns if transition not managed carefully
The director general of the World Health Organization warns of the risks of returning to lockdown if countries emerging from pandemic restrictions do not manage transitions “extremely carefully and in a phased approach”. preparedness.