Quote:A former Treasury chief economist predicted that the lockdown measures were reducing Italy’s economic output by around 10-15%, with the tourism and transport sectors down about 90% on their normal levels... The Milan stock exchange fell a further 3.3% on Tuesday, meaning it has now slumped 29% since Feb. 20. Italy’s borrowing costs are also shooting up, reviving fears that an economy already on the brink of recession and struggling under the euro zone’s second-heaviest debt pile could be plunged into crisis.Italy in coronavirus lockdown as deaths soar and economy fades - Reuters
Quote: The goal, business groups and economists say, is to get more cash into the pockets of workers and companies quickly. As administration officials head to Capitol Hill to discuss their plans with Senate Republicans, the method and recipients of any stimulus are still in flux. The president has been pushing for a broad payroll tax cut but others inside the White House want a targeted response that benefits industries and areas hardest hit by the virus, advisers say.Trump's coronavirus stimulus is still evolving. Here's what it should include, experts say - Reuters
Quote:German Chancellor Angela Merkel has warned that according to experts, 60-70% of the German population could become infected with the coronavirus. She said that since there's no cure yet, governments need to focus on slowing its spread. "When the virus is out there, the population has no immunity and no therapy exists, then 60 to 70% of the population will be infected," she was quoted by the Reuters news agency as telling reporters in Berlin. "The process has to be focused on not overburdening the health system by slowing the virus's spread. It's about winning time." Coronavirus latest: Virus cases rise rapidly in Europe and US - BBC News