French firefighters and members of Red Cross ask questions to people repatriated from Morocco by ferry, around 600 people from European Union and around 230 vehicles arrived at the Sete harbour, southwest of Montpellier, on April 4, 2020, during the strict lockdown in France to stop the spread of the novel coronavirus COVID-19.
AFP/Sylvain Thomas
EU strikes rescue deal as hopes rise of virus easing
(Agence France-Presse) - April 10, 2020 - 8:58am

WASHINGTON, United States — Tentative signs of hope emerged Thursday that the coronavirus pandemic was peaking, as the European Union sealed a rescue package to help the hard-hit continent. 

With the death toll passing 93,000, there remained plenty of grim news, with the IMF warning that the world was dipping into a new Great Depression and new data showing the United States has shed a massive 17 million jobs in a matter of weeks.

But hospitalizations dropped in several countries and British Prime Minister Boris Johnson, the highest profile of the 1.5 million people infected by the virus, exited three days of intensive care.

"The fire started by the pandemic is starting to come under control," said Prime Minister Pedro Sanchez of Spain, where fatalities inched down to 683 from 757 a day before, pushing the total above 15,000.

"Our priority now is not to turn back, especially not to return to our starting point, not to lower our guard," Sanchez told parliament.

France reported that 82 fewer people were in intensive care for COVID-19 -- the first fall since the pandemic broke out.

Anthony Fauci, the US government's top pandemic expert, said the United States was "going in the right direction" -- but urged people to continue to stay home.

"At the same time as we are seeing the increase in deaths, we are seeing rather dramatic decreases in the need for hospitalizations," Fauci told reporters at the White House.

In New York, the epicenter of the virus in the United States, only 200 more people entered hospitals, the lowest number since the pandemic struck, even though 799 people died over the last day, Governor Andrew Cuomo said.

"We are flattening the curve by what we are doing," Cuomo said Thursday, adding, "We have to keep the curve flat."

But he declined to predict how New York would be faring in the next few weeks, telling reporters bluntly: "I have no idea."

'A Europe that protects'

EU finance ministers agreed in late-night talks to a 500 billion-euro ($550 billion) rescue package aimed at reducing pain across the 27-nation bloc, especially hardest-hit Italy and Spain.

"Europe has decided and is ready to meet the gravity of the crisis," French Finance Minister Bruno Le Maire tweeted after the talks.

He warned earlier in the day that France's economy is expected to shrink six percent this year, even with the country's own 100-billion-euro relief plan.

EU finance ministers put aside proposals by France and Italy for pooled borrowing. The Netherlands relented and let the deal come through after pushing hard for Italy and other affected countries to undertake economic reforms.

"Today we answered our citizens' call for a Europe that protects," Eurogroup chief Mario Centeno said.

"This response contains bold and ambitious proposals that didn't seem possible just weeks ago," added Centeno, who is also Portuguese finance minister.

Both workers and companies are suffering as half the planet is being told to stay at home.

Worst 'since Great Depression'

The International Monetary Fund said 170 of its 180 members would see declines in per capita income this year -- just a few months after predictions that nearly all would enjoy growth.

"We anticipate the worst economic fallout since the Great Depression," said IMF chief Kristalina Georgieva, urging governments to provide lifelines to businesses and households alike. 

And even in the best-case scenario, the IMF expects only a "partial recovery" in 2021, assuming the virus that has infected more than 1.5 million people subsides this year.

"It could get worse," Georgieva warned.

The US Federal Reserve threw out its own fresh lifeline to Americans, with chairman Jerome Powell announcing a $2.3 trillion financing measure "to provide as much relief and stability as we can during this period of constrained economic activity." 

The latest stimulus helped Wall Street's benchmark Dow index rise 1.2 percent, recouping a sliver of this year's massive losses, despite the gloomy job figures. 

But Powell also warned that the US economy is moving "with alarming speed" towards "very high unemployment." 

Fauci, director of the National Institute of Allergy and Infectious Diseases, voiced guarded hope for a return to normal by summer thanks to the effects of social distancing -- the recommendation for virtually all 300 million Americans to keep apart from one another.

Boris Johnson improving

In London, the prime minister's office said Johnson was in "extremely good spirits" after leaving intensive care.

The 55-year-old Conservative leader had received "standard oxygen treatment" after he was transferred to the intensive care unit at London's St Thomas' hospital on Monday, his spokesman said earlier.

Johnson had been an initial skeptic of rigorously emptying out public spaces to fight the virus before heeding expert advice. 

His government, with Foreign Minister Dominic Raab temporarily in charge, is now debating whether to extend the lockdown implemented on March 23.

Britain announced another 881 deaths on Thursday, taking the total to 7,978.

Despite hopeful signs in Western nations, the pandemic is marching into areas previously only lightly affected. Africa faces vast consequences, with the World Bank warning that sub-Saharan Africa could slip into its first recession in a quarter.

In a move to build international solidarity over the crisis, Germany on Thursday led a videoconference session of the UN Security Council on the pandemic.

Secretary-General Antonio Guterres opened the session by calling the pandemic "the fight of a generation -- and the raison d'etre of the United Nations itself."

Guterres has appealed for a global halt to conflicts to concentrate on the COVID-19 fight. 

Saudi Arabia embraced the call by announcing a unilateral pause in its brutal offensive against rebels who control much of Yemen, which has been experiencing one of the world's most acute humanitarian crises.

President Donald Trump said he spoke Thursday both to Saudi Arabia's crown prince, Mohammed bin Salman, and Russian President Vladimir Putin and thought they were near a deal to end an oil price war that has thrown further uncertainties into the global economy.

EUROPEAN UNION NOVEL CORONAVIRUS
As It Happens
LATEST UPDATE: May 28, 2020 - 4:08pm

Follow this page for updates on a mysterious pneumonia outbreak that has struck dozens of people in China.

May 28, 2020 - 4:08pm

The Department of Health reports 539 new cases of the coronavirus disease, the highest in a single day, taking the national tally to 15,588.

There are 92 new recoveries and 17 new fatalities, the health department adds.

May 28, 2020 - 3:53pm

South Korea re-imposes a series of coronavirus social distancing measures on Thursday, as a series of clusters threatens to challenge its success in containing the epidemic.

Museums, parks and art galleries in the Seoul metropolitan area will all be closed again for two weeks from Friday, says health minister Park Neung-hoo, while companies are urged to re-adopt flexible working practices, among other measures. 

"We have decided to strengthen all quarantine measures in the metropolitan area for two weeks from tomorrow to June 14," he says. — AFP

May 28, 2020 - 7:20am

Brazil's death toll from the new coronavirus surpasses 25,000 on Wednesday, as the country emerges as the latest epicenter in the pandemic.

The health ministry says it had confirmed 1,086 new deaths in the past 24 hours, the fifth time the daily toll has exceeded 1,000 since the crisis accelerated in Brazil last week.

That pushes the nationwide death toll to 25,598.

The country of 210 million people now has 411,821 confirmed cases of the virus, second only to the United States. Experts say under-testing means the real figures are probably much higher. — AFP

May 28, 2020 - 7:19am

The United States has now recorded more than 100,000 coronavirus-related deaths, Johns Hopkins University reported Wednesday — a somber milestone and by far the highest total in the world.

The country reported its first death about three months ago. Since then, nearly 1.7 million infections have been tallied nationwide, according to the Baltimore-based school.

The actual number of deaths and infections is believed to be higher, experts say. — AFP

May 27, 2020 - 8:35pm

The COVID-19 pandemic has caused surging unemployment worldwide, but has hit young workers especially hard, forcing more than one in six people aged under 29 to stop working, the UN said Wednesday.

In a fresh study, the International Labor Organization warned that the novel coronavirus crisis has disproportionately affected young people, and could impact upon their work opportunities and career options for decades to come.

"I don't think it is giving way to hyperbole to talk about the danger of a lockdown generation," ILO chief Guy Ryder told a virtual press conference. — AFP

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