BERLIN: France and Germany on Monday (May 18) laid out plans for a 500-billion-euro (US$545 billion) European fund backed by joint EU borrowing to ...
BERLIN: France and Germany on Monday laid out plans for a 500-billion-euro European fund backed by joint EU borrowing to fight the economic fallout from the coronavirus, as the continent pushed ahead towards normality with major landmarks reopening after a two month-hiatus.
Chinese President Xi Jinping insisted during an address to the World Health Assembly - the WHO's decision-making body - that Beijing had been"transparent" throughout the crisis. Beijing also offered to share a vaccine once one became available.But China's main critic US sharpened the tone at the same talks, accusing the WHO of being too close to Beijing.
But natural catastrophe threatened to derail the plans to keep transmission at bay - with Cyclone Amphan barrelling towards India and Bangladesh at speeds of 240km per hour, two million people face evacuation.In Latin America, Brazil now has the fourth-highest caseload in the world at 241,000 confirmed infections, and deaths have risen sharply in recent days.
Nicaraguan hospital staff have said the country's health system is overwhelmed with patients suffering from respiratory illnesses. The world's biggest economy is also going to suffer a massive downturn, US Federal Reserve chairman Jerome Powell warned. The first stage trial provoked an immune response similar to people convalescing from the COVID-19 disease in eight recipients, according to the company. It has a larger phase 2 trial involving more patients due to begin soon.In a sign of solidarity, French President Emmanuel Macron and German Chancellor Angela Merkel proposed"borrowing from the market in the name of the EU" to fund 500 billion euros of spending on the 27-strong bloc's"worst-hit sectors and regions".
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