Emmanuel Macron, the French president, and Angela Merkel, the German chancellor, outlined a half-trillion euro, EU-wide coronavirus recovery package, 18 May 2020. “For the first time together, what we propose is to raise a common debt in the market,” Macron said. “Extraordinary circumstances call for extraordinary measures,” Merkel said. “Germany and France are standing up for Europe.” Image credit: Bundesregierung
Trump taking unproven treatment, Belgian hospital employees protest PM visit and Uber lays off more staff. Delano’s breakfast briefing for Tuesday.
Macron and Merkel put forward EU recovery plan
The leaders of France and Germany proposed creating a €500bn European rescue fund. Under the plan outlined by Emmanuel Macron and Angela Merkel, the European Commission would sell bonds and distribute the funds as grants, not loans, to the EU countries and sectors hardest hit by the covid-19 crisis. The debt would be repaid out of the EU budget. Common debt represents a policy U-turn by the Germans. The plan needs to be approved by the other EU governments. Austria’s chancellor prefers loans, not grants. Sources: BBC, CNN, Financial Times, France 24, The Guardian, Marketwatch and NPR.
Moderna has positive vaccine results in small study
Trump taking unproven drug as covid-19 prophylactic
Donald Trump said he was taking hydroxychloroquine to prevent a coronavirus infection, even though there is no proof the anti-malaria drug is an effective treatment against covid-19. The US Food and Drug Administration has previously warned that taking hydroxychloroquine could potentially cause heart rhythm problems in covid-19 patients. Source: AFP, CNBC, Financial Times, Deutsche Welle and The Guardian.
Trump threatens to quit WHO
Donald Trump said the US would withdrawal from the World Health Organization unless it agrees to “commit to major substantive improvements within the next 30 days”. Sources: CNBC, CNN, Financial Times, Marketwatch and Reuters.
French schools closed following new coronavirus infections
Staff turned their backs on the Belgian prime minister, Sophie Wilmès, when she visited a Brussels hospital ito protest pay, working conditions and staffing plans. Sources: AFP, BBC, Brussels Times, The Guardian and Sky News.
US putting Huawei’s “survival” at stake, says chair
The Chinese tech giant Huawei said new American restrictions on selling it semiconductors and software were “arbitrary” and its business “inevitably be impacted”. Sources: BBC, CNBC, Financial Times, RTE and the Telegraph.
Uber makes further cuts
The ride-hailing and delivery firm Uber announced 3,000 layoffs (after making 3,700 staff redundant 2 weeks ago) and the closure of several offices. Sources: Bloomberg, CNN, Financial Times, NPR and The Verge.