Before the deliberations of the EU Finance Ministers on Tuesday afternoon called Conte credit of the Euro bailout Fund ESM “absolutely insufficient” and insisted on Eurobonds, i.e. common European debt. Such community bonds, meet with more resistance from Germany and other countries.
In Italy and Spain was already an agreement reached by the EU heads of state and government at the end of March failed. The Minister of Finance, received the order to develop new models. In the past few days, a package of three instruments have been negotiated: precautionary credit lines from the Euro rescue Fund ESM for the particularly affected States; a crisis Fund at the European investment Bank and EU-support for short-time workers.
safety net of half a trillion Euro.
Euro group chief Mario Centeno said at the weekend, for these instruments there is broad support. Together they would provide a “safety net” in the value of half a trillion euros. It was recorded that the dispute over community bonds – you have to run under the name of Eurobonds, Corona-Bonds or Recovery Bonds would be postponed until the “reconstruction” phase after the pandemic.
Conte granted, however, on Monday evening, the ESM grants a cancellation and said: “the ESM, no, Eurobonds definitely Yes. The ESM is absolutely insufficient, Eurobonds are the solution, a reputable, effective, adequate response to the emergency.” With his Finance Minister, Roberto Gualtieri, he agree totally.
Germany is against Eurobonds
The German Finance Minister, Olaf Scholz, was renewed, however, his opposition to Corona-Bonds at the European level. With the EIB, the ESM and the concept of “Sura,” there is three “very strong signals of solidarity,” said the SPD politician on Monday evening in the ZDF. A European could come up the program, so that the economy in Europe to grow up again.
the Netherlands questioned the introduction of Eurobonds and co.
The Dutch Finance Minister Wopke Hoekstra reiterated on Tuesday the ‘ no ‘ to Eurobonds and also Details of the rest of the instruments in question. So he requested financial assistance from the ESM, to connect with reform demands, such as reforms in the social system and the increase in the retirement age. Finally, it had welcomed from negotiating circles, the conditions for the ESM assistance should remain limited to a Minimum. Hoekstra was also an agreement on the short-time workers-program “Sure” in question.
France want a new rescue Fund
The French Finance Minister Bruno Le Maire raised the bar for an agreement with its EU colleagues. He had proposed as a compromise in the Eurobond issue, to establish a new bailout Fund, and these common bonds give out. The “Frankfurter Allgemeine Zeitung” said Le Maire, he wanted to endorse a common solution in the circular of the Minister of Finance only if the countries agreed to the solidarity Fund. Otherwise, it would have to be negotiated further. (SDA)
These tracks is the Corona-crisis leave
The Coronavirus affecting the entire world, affects every area of life. It is clear today that The crisis will have consequences – some good, majority negative.
The Coronavirus is likely to change, the Swiss economy is fundamentally different. Now Secretariat for economic Affairs (Seco) are, according to the state of 757 000 workers employed in short – time work-approximately 15 percent of all purchase! In addition to a recession are also expected an unemployment rate of 2.8 percent and a decline of the GDP to -1.3 percent.
The uncertainties have a large influence on the behavior of the population: Expensive purchases, instead of emergency reserves saved up. With the result that the retail trade will still have a long bite at the late follow. Hoarding or not.
The consumer should get into the habit of shopping more frequently in the network. So Digitec Galaxus announced, for example, recently, a further 200 logistics staff.
Many companies have to currently deal with digital technologies, in order to keep the operation Running. Employees learn by video-conference exchange. For the employer, in the future, a blessing: more home office less office costs and equipment costs.
workers miss at home the Personal of office life, appreciate the flexible working hours and fight with the Hard – and Software: In peak times, the traffic that is currently causing Congestion in the mobile communication. Particularly annoying ists in border regions, where fiber is often copper wire instead of glass in use.
The Virus has the social life to a Standstill brought. Operators of closed Restaurants, Bars and Clubs, will meet in full: While revenues have been removed, must be covered operating expenses, such as Rent a more.
There is a maximum credit for ten percent of the annual turnover, which is likely to be, according to gastro Suisse for a lot of pickling, just a drop on the hot stone. In addition, Many farmers are individual entrepreneurs and only 3320 francs per month.
The industry closures, bankruptcies and redundancies threaten. Dark it also looks at concert and sporting event organizers, where the Rejections pile up. The liability issues are still unclear.
The crisis brings Strengths and weaknesses to the fore, especially when dealing with the epidemic where disease notifications are made in part via Fax.
The Virus is a major influence on the current debate on the planned hospital closures and cost structures in the health system. Also the payment of caregivers (for many too deep) is likely to come to the test.
An important role will also play a possible vaccine against the Coronavirus. Already skeptics fear the scenario of a forced vaccination for all.
In the airline industry is a huge crowding-out raging fight. The International air transport Association IATA anticipates that the revenue from the passenger traffic could drop to 252 billion dollars, or 44 per cent below the value of 2019, if the travel restrictions lasted three months.
Many Airlines will no longer be able to withdraw without any state aid. The Swiss currently has grounded 90 of its 96 planes. Whether the enthusiasm shoots up in old heights? Tend not to: Because many had to cancel your holiday, you will leave for bookings in the future with caution.
In times of Social Distancing is improving in many places, the local Cohesion. Areas such as neighborhood help flourish. The willingness to help will continue after the crisis. Personal contacts will be more important than ever. Gatherings among friends or in the family in the future, more appreciation.
