France is not yet at the top, the dead in Spain are rising

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PARIS, FRANCE – April 06: A woman wearing a protective mask passes by the Eiffel Tower during the coronavirus epidemic (COVID 19) on April 6, 2020, in Paris, France.

Chesnot

France has not yet reached the peak of the coronavirus pandemic, the country’s health minister warned on Tuesday, while the daily number of new infections and deaths has increased again in Spain.

European countries still disagree with COVID-19, the virus that appeared in China at the end of 2019. In France, the second largest economy in the euro zone, there were 5,171 new infections and 833 additional deaths from Sunday to Monday , according to the French state of health ministry. France is poised to be the fifth country in the world to cross the 100,000 threshold for the number of confirmed cases.

“We are still in a worsening phase of the epidemic,” said Olivier Veran, French Minister of Health, on Tuesday.

Paris authorities also announced on Tuesday that people will not be allowed to exercise between 10:00 a.m. and 7:00 p.m. from Wednesday onwards, in order to prevent joggers from going out at the same time as the grocers.

Meanwhile, new figures in Spain have fueled fears that the worst is not yet over. The daily death rate was 743 and the number of new cases increased by 5,478 from Monday to Tuesday, according to figures released by the Ministry of Health.

Spanish authorities had hoped that a recent slowdown in the number of new infections and deaths would materialize. Maria Jose Sierra, deputy head of the Spanish health emergencies committee, said on Monday that it was important to wait a few days to confirm a trend, but the number of new daily infections had declined until then.

To date, Spain has registered 13,798 deaths and 140,510 infections.

In Italy, the government announced on Monday new financial assistance for businesses affected by the pandemic, through public guarantees of up to 400 billion euros ($ 433 billion) in loans and investments. The country has had 132,547 cases to date, of which 16,523 have died from COVID-19; according to data from the Italian authorities on Monday afternoon.

Roberto Gualtieri, the Italian Minister of Finance, said on Twitter that the new tax package represents an “unprecedented intervention that will allow many companies to overcome the crisis and start again”.

The pandemic has put an end to the main economies of the EU, with all non-essential purchases being closed for an indefinite period. As a result, different governments have mobilized different budget programs to support their respective economies.

More fiscal stimulus

However, eurozone finance ministers are expected to discuss additional funding on Tuesday to support the 19-member region.

One possibility is to develop a line of credit, through the region’s crisis fund – the European Stability Mechanism (ESM), which could reach 240 billion euros ($ 260 billion). However, ministers have yet to determine how these loans will operate.

In addition, ministers are expected to give the green light to a proposal to raise 100 billion euros from the financial markets to deal with unemployment. They are also expected to approve additional aid through a pan-European guarantee fund which could eventually reach EUR 200 billion.

As a result, finance ministers could present a financial package of around half a trillion euros.

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