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Members of European Union finance ministries on Monday have decided on a coordinated economic response to the coronavirus after wide speculation that its effects could potentially push the EU into a recession.
The move is currently comprised of various procedures taken by its 27-nation bloc as well as the halting of limits on epidemic-related spending from government.
The ministers of the supposed Eurogroup will meet through video conference on how to curb the coronavirus transmission which was responsible for the lockdowns and disruptions of business in many EU countries.
With large sectors of the Eurozone out of action due to the virus, the European Commission on Friday said that the EU and other Euro-sharing countries could very likely go into recession.
Germany, alone on Friday unveiled its ambitious plan where a half-trillion Euros was guaranteed for the business sector in a 4-point plan that was highly commended by economists. In addition, France pledged to support its companies and Italy announced an allocation of €25 billion to affected businesses and families.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
June had seen Japan’s exports recording a double-digit decline for four consecutive months. This suggests that the novel coronavirus pandemic tipped the world’s third-largest economy into its sharpest postwar slump, highlighting ...
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