Government support measures cushioned the economic impact of Covid-19

Despite a 2.0% fall in real GDP per capita in the Ocde zone in the first quarter of 2020, real household income per capita, which gives a better idea of ​​the evolution of people’s economic well-being, has increased 0.1%.

“In response to Covid-19, several governments have put in place policies to support household income. As a result, in the seven major economies, growth in real household income per capita has held up better than growth in real GDP per capita, which has contracted sharply in these countries.

For the OdeC zone, real household income growth exceeded GDP growth by 2.1 percentage points, the largest positive difference observed between the two measures since the financial crisis (2008 Q4) ”, we read in a press release from the Ocde.

While government policies have reduced the severity of the impact of Covid-19 on household income, the same source adds, the United States was the only country of the seven main economies to record positive growth (+0, 7%) of household income per capita, partly reflecting the more limited impact of Covid-19, and by the same, more limited containment measures, in the first quarter.

Although the other countries of the seven major economies recorded a fall in the growth of household income per capita in the first quarter of 2020, within the Oecd zone, positive growth was recorded in Australia (0.5%), Belgium (0.7%), Finland (1.2%), Greece (0.8%), Ireland (0.7%), Netherlands (1.6%), Slovenia (1.5%) and Sweden (1.3%).

In Italy and Germany, real household income per capita declined sharply in the first quarter of 2020, by -1.8% and -1.2%, respectively. In the United Kingdom, France and Canada, real household income per capita declined to a lesser extent, by -0.7%, -0.3% and -0.2%, respectively, although these three countries recorded a significant drop in per capita GDP growth (by at least -2.3%, and in the case of France-6.0%).
Adou FAYE

.

Interest rates on the money and interbank markets ease in May 2020

During the month of May 2020, Bceao continued to implement its measures taken since March 2020, to counter the harmful effects of the pandemic on economic activity. The maintenance of its auctions at the fixed rate of 2.50%, in particular made it possible to induce an easing of rates on the money market, despite the uncertainties caused by the health crisis on economic and financial activity.

Indeed, according to the Bceao, the weighted average rate of auctions for one week remains stable at 2.50%. Similarly, she adds, on the one-month window, the average rate remains at 2.50%.

On the interbank market, continues Bceao, rates have also eased. Indeed, it explains that the weighted average interest rate on the one-week sub-fund stood at 3.41%, ie a decline of 37.0 basis points.

On all maturities, the rate came out at 3.50%, down 34 basis points, also being below the marginal lending rate and at a lower level since 2018, concludes the institution.
Bassirou MBAYE

.

Ocde Zone: Government support measures cushioned the economic impact of Covid-19

Despite a 2.0% fall in real GDP per capita in the Ocde zone in the first quarter of 2020, real household income per capita, which gives a better idea of ​​the evolution of people’s economic well-being, has increased 0.1%.

“In response to Covid-19, several governments have put in place policies to support household income. As a result, in the seven major economies, growth in real household income per capita has held up better than growth in real GDP per capita, which has contracted sharply in these countries.

For the OdeC zone, real household income growth exceeded GDP growth by 2.1 percentage points, the largest positive difference observed between the two measures since the financial crisis (2008 Q4) ”, we read in a press release from the Ocde.

While government policies have reduced the severity of the impact of Covid-19 on household income, adds the same source, the United States was the only country of the seven main economies to record positive growth (+0.7 %) of household income per capita, partly reflecting the more limited impact of Covid-19, and by the same, more limited containment measures, in the first quarter.

Although the other countries of the seven major economies recorded a fall in the growth of household income per capita in the first quarter of 2020, within the Oecd zone, positive growth was recorded in Australia (0.5%), Belgium (0.7%), Finland (1.2%), Greece (0.8%), Ireland (0.7%), Netherlands (1.6%), Slovenia (1.5%) and Sweden (1.3%).

In Italy and Germany, real household income per capita declined sharply in the first quarter of 2020, by -1.8% and -1.2%, respectively. In the United Kingdom, France and Canada, real household income per capita declined to a lesser extent, by -0.7%, -0.3% and -0.2%, respectively, although these three countries have experienced a significant drop in per capita GDP growth (by at least -2.3%, and in the case of France -6.0%).
Adou FAYE

.

Peskov announced the talks between Putin and Lukashenko in the Tver region :: Politics :: RBC

Vladimir Putin and Alexander Lukashenko

Vladimir Putin and Alexander Lukashenko

(Photo: Sergey Chirikov / Reuters)

Presidents of Russia and Belarus Vladimir Putin and Alexander Lukashenko will hold a bilateral meeting on June 30, it will be held as part of the opening of the Rzhev Memorial to the Soviet Soldier in the Tver Region. This was announced by the press secretary of the head of the Russian state Dmitry Peskov, reports RIA Novosti.

“We confirm,” said Peskov, answering the question whether negotiations between the two leaders will take place.

Earlier on June 29, the Kremlin’s press service announced that Putin, along with Lukashenko, would take part in the unveiling of a monument to a Soviet soldier near Rzhev on Tuesday.

The Kremlin reported on “good statements” by Lukashenko

The Rzhev Memorial was erected on the site of fierce fighting on the Rzhev-Vyazemsky ledge of 1942-1943, according to the project website. The monument was made by sculptor Andrei Korobtsov and architect Konstantin Fomin. The veterans of the Great Patriotic War proposed to immortalize the heroes of the Rzhev battle. The monument is a 25-meter bronze figure of a Soviet soldier. It was erected on a ten-meter bulk mound.

.

Peskov announced the talks between Putin and Lukashenko in the Tver region :: Politics :: RBC

Vladimir Putin and Alexander Lukashenko

Vladimir Putin and Alexander Lukashenko

(Photo: Sergey Chirikov / Reuters)

Presidents of Russia and Belarus Vladimir Putin and Alexander Lukashenko will hold a bilateral meeting on June 30, it will be held as part of the opening of the Rzhev Memorial to the Soviet Soldier in the Tver Region. This was announced by the press secretary of the head of the Russian state Dmitry Peskov, reports RIA Novosti.

“We confirm,” said Peskov, answering the question whether negotiations between the two leaders will take place.

Earlier on June 29, the Kremlin’s press service announced that Putin, along with Lukashenko, would take part in the unveiling of a monument to a Soviet soldier near Rzhev on Tuesday.

The Kremlin reported on “good statements” by Lukashenko

The Rzhev Memorial was erected on the site of fierce fighting on the Rzhev-Vyazemsky ledge of 1942-1943, according to the project website. The monument was made by sculptor Andrei Korobtsov and architect Konstantin Fomin. The veterans of the Great Patriotic War proposed to immortalize the heroes of the Rzhev battle. The monument is a 25-meter bronze figure of a Soviet soldier. It was erected on a ten-meter bulk mound.

.

Why we kept the Aix Economic Meetings

France is at risk! As of last year, by choosing the title “Acting in the face of the world’s deregulations”, we thought that the years 2020 and 2021 would be very difficult, but we could not imagine that a health crisis would hysterize this world of violence making it totally unpredictable. Given the gravity of the situation, we took a risky bet by deciding, with the entire team of the Circle of Economists, to maintain the Meetings. This could not have been done without the essential support of all of our partners and Radio France.

Our will remains unchanged for this twentieth edition renamed Aix-en-Seine: to initiate the debate, to illuminate as yet unexplored paths to bring new ideas, emergency solutions to the major disruptions of our time. For this, 300 speakers will participate in 52 sessions, broadcast live from franceinfo.fr, on July 3, 4 and 5!

How to accelerate economic recovery

The novelty is the diversity of the speakers, the participation of the two leaders of the European executive, Ursula Van der Leyen and Charles Michel, and that of the representatives of all the union and political forces of our country, beyond the hundred foreign speakers. The objective is to launch the debate in our country, without which it will be extremely difficult to put French society back on track.

At the beginning of 2020, a pandemic of unrivaled magnitude came to overlap with the great transitions, already underway, in our societies. Of health origin, the crisis becomes economic and social with new imbalances which appear. It is true that we are already witnessing major disturbances. They are climatic, unequal, demographic, geopolitical. Today, it is clear that they have strengthened among themselves. The latest is obviously the health imbalance caused by the Covid-19 pandemic.

We thought, wrongly, that the world, with the fall of the Berlin Wall, had settled down, that international institutions were going to regulate this “global village”. On the contrary, the risk picture has widened. Failure of technical progress, aging of the population, unlimited financialization of the economy, widening of inequalities … the end of history, concept theorized by Francis Fukuyama, seems far away!

Contrary to the idea of ​​a rapid economic recovery, which is more akin to the voodoo economy, we believe that the recovery will be slow and difficult. The health crisis has fueled new anxieties, which have a deleterious effect on the economy.

However, any simplifying answer would be unwelcome. Faced with these challenges, three main points appear important to us. First of all, to bounce back, we need to organize a major recovery plan which must be shared and must have been debated by all the players in society. It should allow us to create the conditions for a dynamic and united society to restore trust with society. Finally, we must rewrite the history of relations between nations. Multilateralism, which has already been turned upside down, must be rethought, like the world economy, because of slow growth and the desire to reduce inequalities and carbon emissions.

→ TRIBUNE. A “New Deal” for the European Green Pact

This major recovery plan will have to respond both to short-term problems to limit the economic insecurity of the youngest and the most affected sectors, including aeronautics and the automobile, and to the desire of the population to find their bearings. towards a fairer, more united, greener society, expressed through the citizen mobilizations of these last months. At the risk if not to develop a society marked by its many fractures, including the war between generations. This also means rethinking our economy with a view to slow growth and stagnant income for part of the population.

Maintaining the Economic Meetings and offering them a new framework for their twentieth edition was necessary in this very special period which deeply marked all of us by its instability. During the past three months, we have worked with passion to redraw the contours of the debates, so that they reflect as much as possible the challenges of today and tomorrow. We did everything we could to bring together all the stakeholders at national and European level (unions, politicians, academics, think tanks) to build our future together.

It is now a question of implementing concrete responses at all levels, be they economic or social, technological or political, collective or individual, coordinated by the public authorities or by private initiative. It is this particularly ambitious vision that we invite you to share throughout this 20e edition of the Aix-en-Provence Economic Meetings which became Aix-en-Seine.

The often frightening description of the challenges we have to face must not paralyze us. Stillness would be the worst answer. After the last three editions of the Meetings devoted to the precise analysis of these dangers and the outline of possible solutions, we must now take action!

.

On the run since 2018, a drug trafficker finally arrested near Lyon


Photo illustration LyonMag

He had escaped on two occasions to the police.

A man aged 30 years old and a native of Orleans, was arrested Wednesday evening in Vaulx-en-Velin. The individual was wanted for the end of 2018 as part of an investigation into the importation of cocaine in the port of le Havre. The police had seized 200 kilograms of cocaine and placed under arrest the trafficker alleged.

The latter had made about him a few months later in November 2019. This is a new case of drug trafficking, more exactly a “go fast” from the Maghreb (via Spain for a scheduled arrival at Grenoble. An operation of the BRI de Lyon allows you to enter more than 500 kilos of cannabis and the arrest of six persons, but not of the suspect sought.

The man was eventually arrested this Wednesday in Vaulx-en-Velin after being spotted in Villeurbanne, report AFP. He was jailed pending its presentation to a judge from grenoble.


Tags :
drug trafficker |
interpellation |
leak |


.

Poroshenko in the decline of Russia’s GDP saw a “unique opportunity” to return to the Crimea :: Policy :: RBC

According to the former President of Ukraine, the chance to “force Russia to withdraw from Donbass and the Crimea” appeared when in the country there was “a deep crisis”. He believes that Russia’s economy is “not able to Fund this “suitcase without a handle”

Petro Poroshenko

(Photo: Zuma / TASS)

The economic crisis that unfolded because of the coronavirus, can create the conditions to “force Russia to withdraw from Donbass and the Crimea”. The former President of Ukraine Petro Poroshenko said in an interview with the Ukrainian musician Sergey Zhadan for radio “Trident FM”. Channel “Direct” was also a live video from Poroshenko during his conversation with Jade.

According to Poroshenko, an opportunity “to strengthen international solidarity and to force Russia to leave from Donbass and the Crimea, fulfilling the commitments that were signed under the pressure of the Normandy format, the EU and American partners” Ukraine has appeared, “when in Russia [развернулся] a deep crisis with a 5 percent decline in GDP”. He also believes that such a situation “the Russian economy is not able to Finance this “suitcase without a handle”.

Poroshenko called the condition of rejection of claims to the Crimea

Petro Poroshenko (center)

In addition, Poroshenko said that “he [президент России Владимир] Putin signed a decree about the annexation of Crimea, Putin himself gave instructions to the chief of the General staff to [на территорию полуострова] broke Russian paratroopers in August 2014”.

Zhadan also asked the former President what he saw in the eyes of Putin at a meeting in the Normandy format. “The desire of the world there, I just saw. The hatred of Ukraine and Ukrainians I saw there,” — said Poroshenko.

.

In Washington state declared a compulsory wearing of masks :: Company :: RBC

Friday, June 26, all residents of Washington state will be required to use protective masks while in public areas. The corresponding mode was introduced by the Governor of the state Jay Margie reiger, according to the website of the Governor.

“As the resumption of economic activity and increase the number of people in public places it is imperative that we take additional steps to protect,” explained Margie reiger.

According to the Governor, the use of masks will be “one of the best ways to” protect against the spread of the epidemic of the coronavirus before the invention of vaccines or drugs against the disease.

Masks will be mandatory as indoors and outdoors.

Pandemic coronavirus. The most current at 24 June

According to current data of the Johns Hopkins University, in the USA the coronavirus has infected more than of 2.34 million people, including more than 647 thousand recovered, 121,2 thousand died. In Washington state, the disease was confirmed at 30 thousand people.

The spread of the coronavirus Covid-19 in the world

The number of confirmed cases of infection

Source: JHU

Data for the world i

.

Elon Musk sold the sale of all “his possessions” | latest news

The Wall Street Journal reported, citing public records that Elon Musk, CEO of Tesla has sold one of his homes in the Bel-Air in Los Angeles compared to $ 29 million.

Earlier said Musk in a tweet on May 1: “I’m selling all of my possessions, physical almost. I’m not going to own any home”.

The report said that the buyer is a company linked as a billionaire China’s William Ding. Founder and CEO of NetEase Inc games online.

The Musk has bought the house for $ 17 million in 2012 from Mitchell golf, the company’s co-founder for a hedge fund Canyon Capital advisers, according to the report.

.