The flags of the European countries, on February 5, 2020 in Strasbourg. - Mandoga Media / Sipa USA / SIPA

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Faced with coronavirus, the EU achieves a common economic response

Bruno Le Maire and his fellow EU finance ministers must smile. This Thursday, they reached agreement on a joint economic response to the coronavirus. Common ground was found with the Netherlands, which has blocked talks since Tuesday. "The meeting ended with the applause of the ministers," the spokesperson for the president of the Eurogroup announced on Twitter. The French Minister of Economy and Finance, Bruno Le Maire, welcomed him an "excellent agreement" including "500 billion euros available immediately" and "a stimulus fund to come".

Excellent agreement between European finance ministers on the economic response to #Coronavirus: 500 billion euros available immediately. A stimulus fund to come. Europe decides and is up to the seriousness of the crisis.

- Bruno Le Maire (@BrunoLeMaire) April 9, 2020

The American Federal Reserve sets up its economic response

The US Federal Reserve (Fed) deployed heavy artillery to save the world's largest economy from the economic crisis following the Covid-19. In total, the institution will provide $ 2.3 trillion in new loans, intended especially for businesses and local communities hit by the pandemic. Stock markets were able to find new momentum on Thursday. However, it will surely take more for investors to look at the future calmly. The International Monetary Fund estimates that coronavirus could have "the worst economic consequences since the Great Depression" in 1929 worldwide.

The Italian mafia helps selflessly the poorest

The health catastrophe in Italy benefits the mafia. According to the expert journalist of the criminal organizations Roberto Saviano, the mafia distribute food products and contribute to the granting of free loans to the most underprivileged to attract good graces. Mafia groups are also looking to take over troubled businesses, with Italy hoping to receive European funding to deal with the economic crisis. "If Europe does not intervene soon, the multiplication of the mafia money which is already in Germany, in France, in Spain, in the Netherlands, in Belgium will be uncontrolled", added the author of the book Gomorra on the Camorra, the Neapolitan mafia.

Society

France, which has nearly 11,000 deaths, is preparing for an extension of the containment

Economy

Good reflexes to face in the face of the vagaries of the stock market

  • Coronavirus
  • Italy
  • Economic crisis
  • Mafia
  • United States
  • Fed
  • EU
  • Bruno Le Maire
  • Society
  • BIM