IMF expects global economic recession
EA recession in the global economy is inevitable, according to the International Monetary Fund (IMF), because of the coronavirus pandemic this year. It is likely to be quite difficult, at least as serious as it was in the global financial crisis more than ten years ago, IMF chief Kristalina Georgiewa said on Friday. A recovery […]
European consumers become discouraged as coronavirus blocks spread
LONDON – At the beginning of March, Europeans became much more somber about their economic prospects when governments across the continent announced increasingly stringent restrictions on movements and social interaction, suffering the greatest loss of confidence in one month. The European Commission – the executive arm of the European Union – said Monday that its […]
Coronavirus: Bundesbank President expects recession
Bundesbank President Jens Weidmann expects a recession in Germany due to the ever increasing coronavirus pandemic. This “is now inevitable,” he told the newspaper “Die Welt” in an interview published on Saturday. What matters first is that the spread of the virus is stopped. “The federal government acted quickly and correctly. It seems to me […]
Why predicting the future is more uncertain today than ever …
France will dive in recession in 2020. All the experts agree on this point. On the other hand, there is still a great deal of uncertainty about the extent of the decline in GDP. In its amending finance bill for 2020, the government had to decide. And, as tradition dictates, rather with optimism – determination, […]
Corona recession: Ifo business climate is falling
Berlin The corona crisis is fueling concerns about a strong recession in the executive levels of the German economy. The Ifo business climate index fell from 96.0 to 87.7 points, as the Munich Ifo Institute announced on Thursday. The companies were already judging their current business situation worse. But they assess their business expectations as […]
How much damage could the coronavirus cause? The stock market has some answers
updated March 18, 2020, 6:49:55 Photo: The stock market is under pressure as investors try to understand how the economy is doing. (AAP: Dean Lewis) Something extraordinary happened this week. The securities regulator, the ASIC, intervened and imposed controls on the stock market to ensure that it remains “fair and orderly”. Why? Well, because last […]
The European tax antidote to the coronavirus crisis risks deepening economic gaps
European governments have pledged hundreds of billions of euros to help coronavirus-affected economies, businesses and workers by applying tools developed during the euro crisis and putting severe bans aside on state subsidies. Stimulus moves, in addition to the increase in public spending triggered automatically during a recession, could help fiscally healthy countries, including Germany and […]
Coronavirus arrests punch the Chinese economic gut
SHANGHAI – Commercial activity in China became largely negative for the first time when home sales, construction activity, retail sales and industrial production plunged, pushing unemployment to a record high, signs of the expensive economic damage associated with trying to control the spread of coronavirus. Taken together, the data, which dates back to the first […]
Never experienced such a shock
Joachim Fels is chief economist at the fund company Pimco. Image: Wolfgang Eilmes Pimco chief economist Joachim Fels does not believe that the stock markets will recover quickly. In the interview, he talks about the reasons for the crash, devastating bankruptcies – and where brave people could still invest now. Mr. Fels, the stock market […]
Austria is putting together a package worth billions for the economy
Sebastian Kurz The Austrian chancellor is opening a four billion euro protective shield for the domestic economy. (Photo: REUTERS) Vienna With immediate effect, the Austrian government is providing a crisis package of up to four billion euros for the domestic economy. The goal is to “ensure solvency in companies, secure jobs and help in hardship,” […]