the eu commission president has caused -- has called it the start of global cooperation.ries have started to ease their lockdowns. a decision has followede the r of infection beginning to fall. we are taking awh look a is happening. >> 4.5 million italians went back to worker a almost two months of lockdown. the restrictions are being eased . construction sites and parks are open. people can visit relatives. there is one big difference from life before. everyone going out has to wear a face mask. let's hear from mark mark: a nation that has she so many tears can finally grieve together. nles, the first funerals allowed with a maximum of 15 as italy opens up. being able to -- being unable to been one of the cruelest losses of the lockdown. outdoor exercise is now allowed. pas and businesses are reopening and relatives can see each other with distance and masks. people can come visit family members they have been stopped from seeing for eight weeks. presents a danger. this train is coming from milan, the ea worst hit by the virus. with freedom comes risk of reading the outb

president of the eu commission calls it the start of unprecedented global co—operation.he partners are many, the goal is one, to defeat this virus. millions of people in the uk will soon be asked to track their movements as part of a new contact tracing app — the government wants to roll it out later this month. italians have gone back to work for the first time since the country imposed a national lockdown two months ago — but the economic and social impact is yet to be measured. scientists have discovered a microbe that completely protects mosquitoes from being infected with malaria — we hear from a scientist on how significant this could be in controlling the disease. welcome. the european commission has launched a global campaign to find a cure for the coronavirus. it says research must be supported by global cooperation if the effort is to succeed. in just a few hours, the eu secured $8 billion in pledges — contributed by world leaders to accelerate the hunt for a vaccine. $1 billion will come from the eu itself, which the commission president says will also go towa

the eu commission has recommended extended traveling restrictions until june 15. have asked member states to reopen their borders from that date on to allow people e to moe within the schengen area. u.s. secretary of state mike

the eu commission threatens to sue germany. von der leyen tuesday -- issues a rebuke over eu bond purchases. the debate's life. -- live. there are options trades out there saying we could get the -45bip -- we could get the -45 bips. we hearar rolls over, it is going to kill the dollar. catherine doyle says less likely valentmore likely benefi helicopter money. of thelook at a few other markets, s&p futures, nasdaq undoes losses for 2020. china promising stimulus, japan promising stimulus and tech up. it is all about adhesives. first sales, 4.9 billion. they are ripping up the guidance ofk and this is the core what the earnings season has been. rip it up, and start again. i'm talking about the guidance and their allies the point. do you know when europe is going to open up? is it is going to be a war or rolling lockdown? first quarter was impacted by the coronavirus, no full-year guidance. .9%,ic sales dropped by negative to the coronavirus and the global case count continues. this weekend, the latest data gives a number of the

the eu commission has recommended extended traveling restrictions until june 15.ut have asked member states to reopen their borders from that date on to allow people e to moe within the schengen area. u.s. secretary of state mike pompeo is in israel for a visit to benjamin netanyahu. iran, thenda, coronavirus and israel's annexation of west bank territories. hello and thank you for joining us in the france 24 newsroom for this edition. we start in the united kingdom. the country has recorded over 38,000 coronavirus related deaths, makingng it the worst affected natation in europe by some margin. boris johnson's handling of the crisis has therefore been heheily criticicized, particulay what is seen as his delay to impose a nationwide lolockdown. despite this, the british government has decided to follow in the footsteps of most of europe and these lockdown restrictions, but only in england. scotland and wales have decided to maintain their respective lockdowns. england are still being urged to keep their distance. from this wednesday, they will be awarded certain f

president of the eu commission calls it the start of unprecedented global co—operation.at this virus.

under government control as riot police continue to try and contain protests in hong kong >>> the eu commission unveils a 750 billion euro recovery fund executive vice president tells cnbc urgent health is needed >> no country is left behind in this proposal. what is left behind is the ability to this crisis due to the higher debt levels >>> lufthansa trades higher despite doubts over its bailout amid disputes with brussels. easy jet sees green amid the plan to cut up to 30% of its work force >>> shares of the skand avian airline says it needs more funding to fly with 95% of its fleet still grounded >> this has caused government to close their borders and make it impokt to conduct business it's also needed that governments step in to try to help to restore this industry. >> a warm welcome to "street signs. let's get right into our top story of the morning china's top legislature has formally passed security laws for hong kong. outlooking treason, success, subversion in the territory. ple pl members passed bill with 278 votes with one vote against. secretary of state mike pompeo declared hong ko

seeing the eu commission raise the funds. countries hardest hit would receive france something germany had before now been reluctant to agree to saying these funds should help them come out of the crisis further and the response should be a one off >> translator: the goal is for europe to emerge from this crisis stronger, more cohesive and in solidarity. we know the impact on our countries varies there is a risk that the cohesion of the european union has been damaged that is why the recovery fund must help to ensure all the states in europe are able to respond appropriately. that requires an extraordinary one off effort which germany and france are prepared to make. >> french president said the funds would allow the block to better defend its assets >> translator: the action we are bringing together consists of reducing our dependancy in sectors by the production of medicine and to improve protection of our companies and better fight on investments and attract key investments. additionally, our wish and collective will is to

understanding with their boards and accept this, and we also need to have the agreement of the eu commissionsels. these discussions are ongoing, but with today's agreement, we are optimistic that we can reach our goal, namely the safeguarding of one of germany's most important employers, and the interest of the people. economyrmany'smatt: minister there saying that they lufthansa aid package is a sustainable and reasonable solution to keep the company going. it is our stock of the hour. let's get more from abigail doolittle. abigail: thanks, matt. shares are really rallying in quite a way. the best two days since 2008 on this bailout package that has been in the negotiating process for weeks. if we take a look at what is actually happening within the providingermany is $9.8 billion in support. that includes a $3.3 billion, three-year loan. in turn, they will own about 20% of the company. not surprisingly, because lufthansa is considered to have a bit of an edge on its competitors. protesting, saying it is going to strengthen lufthansa's "monopoly-like grip." one of the conditions is to give

the eu commission presented recovery plans.he ecb is committed to addressing market fragmentation. and twitter adds a fact check donaldor u.s. president trump for the first time. he accuses the media giant of stifling free speech. manus: just on 6:00 a.m. in london. i don't have a big enough following for a fact check. good morning. economic risk, political risk, and earnings risk. right now, the markets are ignoring political risk, whether they are right or wrong, but they are certainly focused on economic risk. jamie dimon embolden us with his comments of a fairly rapid economic recovery. he and bullard have come down towards 10% unemployment. i want to remind you 10% unemployment was the top of the global financial crisis. i know the stimulus is different, but these are very bullish economic record pieces that inflame the mood this morning. good morning. nejra: good morning. yes, it is really interesting with jamie dimon's focus, versus what we saw in 2008-2009. that leads people to question at this point when we do see the

outstandingow still is basically the approval from the eu commission.ically, the commission will ask for further concessions it is that slots and lufthansa is running out of cash and needs the money soon. it inanted to get principle with the eu commission so that it can be speeded up. nejra: so in terms of some of the details, run us through executive a lot package will look like -- through exactly what the bailout package would look like. the overall package is $9.8 billion. $4re is approximately billion in the silent partner. it is a huge package and it goes beyond just liquidity, it is stepping up capital to make lufthansa strong enough to survive over the next month and so on. the aim is to safeguard the company as a national entity. nejra: a european champion that could look for say two years down the line. what about opposition from rivals? birgit: rivals istion from largely coming from ryanair. the approval process. ryanair said they have to get out of the crisis without aid. they are demanding that the commission take a tough line against luftha

eu. i think the european commission will take that proposal very seriously.xpectation is that the main elements is carried through in the documents we've presented today. i think the key point here is that germany has really taken an important news stance supporting the expanded eu budget aiming to those funds. that is the political signal here and why the development is so important to follow don't forget, we had a pessimistic instance with the court adding to this. all of the core indicators that we track just incredibly bearish to this point. it is one of those things that could be an important turning point. i want to a >> i want to ask you about the timing here. do you think european economies can wait until next year to receive additional help? >> that's a good question. in this context, there are some good signals but problems associated with it >> one problem, we have these frugal countries backing against it pushing back is one thing. the other point you are making is perhaps this will only come into effect in 2021. we don't know this for sure. that

from eu member states because the italian prime minister warned the eu could fail as a project because of coronavirus and your commissionu think you were slow to act and what impact could that have on the future of the eu?|j think that have on the future of the eu?” think the first stage of the pandemic, the governments of member states, in the light of this unprecedented crisis, but also in terms of intensity, they felt a national response would be more adequate. this was the problem. then we went through a second phase of convergence where member states realised how much they have in common and saw the interdependence of our internal market and the need to ensure supply chains. and these convergence phases leads now to this third phase, which is the solution phase where we act in a more coordinated way and take decisions together and hopefully this pledging initiative is one of the most tangible signs of this third phase, what we are calling the solution or the exit phase. but if convergence had happened earlier, could lives have been saved? yes, but, you know, one of the things that's not widely known, there is an as

we will speak with the eu budget commission or about 30 minutes. looking forward to that conversation because it is not a done deal just yet. for more on the markets, let's bring in daniel morris, bnp paribas asset management senior -- senior management investment strategist. we had a little strengthening in the yuan overnight. it seems like once that decision was made by the u.s., traders took their foot off the gas a bit. should currencies be moving more here? daniel: i guess it comes down to how long we think this generally positive mood in the market is going to last. you have seen the euro strengthened against the dollar. generally speaking, you have seen the dollar we getting -- the dollar weakening. so as long as that lasts, we are more concerned about what is going to happen two to three weeks for an amount -- two to three weeks from now, when conceivably we see an increase in inflection rates of coronavirus following loosening of lockdown restrictions. vonnie: what is your base case scenario for reinfection or a spike of coronavirus cases?

commission president ursula von der leyen said the final word on eu law is always spoken in luxembourgreferring to the european court of justice there. nowhere else. the european commission is tasked with the functioning of the euro system and the union's legal system. we are analyzing the ruling in detail and we believe that the next steps which may include the option of infringement proceedings. joining us now is bloomberg's legal affairs correspondent in berlin. there is a lot to sort out because it is the european commission talking about the german constitutional court stepping on the toes of the ecj over an ecb ruling. but basically, ursula von der leyen is saying europe trumps germany. what are her options now? has very fewshe options. she is the president of the european union and she has to defend its integrity. she has to take action one way or the other. she has to talk to the germans. she does not have to file a suit immediately. she can initiate talks, try to stop the conflict somehow. if that does not work out, she probably has no option but going to court. what can germa

: in any case, what we are going to propose is a substantial increase in headroom of eu budget and european commissionthe markets through common borrowing, and this money being provided to memory states both in terms of loans and grants through eu budget programs. but as i said, the exact size and modalities is still a work in progress. there is still a week to go, and the european commission still continues to work on this. this how do we get out of asteroid-sized dent with loans? inevitably, that is going to the weaker countries, and they can't repay it. how do you deal with it? mr. dombrovskis: well, that is haswe need a response which both loans and grants, and there is going to be a strong grants component. we are also devising a response in a way that will be linking investment in structural reforms with guidance we are providing to eu member states through the european semester, where we coordinate our macro and fiscal policies. but in any case, what is an important element we will be raising money for the eu budget by common borrowing at the eu level, done by the european commission. it has ne

that call are going to be canada, france, germany, italy, japan, norway, saudi arabia and the eu commissionut global effort, there is no us, there is no rush, there is no china. but the idea is to try and share expertise and funds to try and develop a vaccine. thanks very much, helen. we will talk to the defence secretary ben wallace at seven to dump —— 7.30. president trump has said he believes the united states will have a vaccine for coronavirus by the end of the year. he said he had done a greatjob managing the pandemic, and dismissed claims he failed to act quickly enough. let's speak now to our north america correspondent david willis. david, what did we learn from his tv appearance? he talked about that vaccine which normally of course take years to develop for this to sort of virus. in deed there is still no vaccine available for either hiv or the ebola virus and white house medical experts have predicted it could be a year and probably 18 months before there is a vaccine to deal or combat there is a vaccine to deal or combat the coronavirus. but president trump said it could be soo

the european commission says the eu is facing the deepest economic downturn in its history that threatenshe future of the euro currency if it's badly handled. the euro region economy is set to shrink 7.7% this year because of the coronavirus outbreak. day, onews, 24 hours a air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in countries. i am mark crumpton. this is bloomberg. vonnie: thank you. now to a bloomberg exclusive, a crucial issue during this coronavirus pandemic is the ability to keep essential goods moving around the world. can container shipping company survived this sharp downturn in global trade? hapag- us as the ceo of lloyd which is germany's biggest shipping company. thank you for joining us. give us an illustration of how your business has changed in the last several weeks. things have changed since the thing started in asia. initially, we were impacted by reduced volumes of china because it hit there. that came back pretty fast and now we see since end of march and april, the impact in other parts of the world, mainly in europe and now

the european commission has issued new guidelines on tourism and travel, for eu member states to followy ease the coronavirus lockdown. a phased approach would begin with allowing in seasonal workers. restrictions would then be relaxed between regions where the virus was under a similar level of control. we'll hear from our correspondents in spain and italy injust a moment, but first to brussels and this report by our europe editor kayta adler. an overnight leap from lockdown to european beach party this certainly isn't. eu countries are onlyjust beginning to lift their lockdown measures. here in belgium they are opening the shops. next week, the schools. but with strict social distancing measures in place. so what does that mean for our holidays? well, ultimately, each eu country decides for itself when to open its beaches and borders to european visitors. brussels can only advise. today the advice was, slowly, slowly. first, open your borders to workers and for goods you need to get your economies going again, then think of tourism. if there's enough testing and tracing capacity for c

eu handling travel precautions? this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. this is "bloomberg markets." the european commissionnveiled a set of recommendations for eu countries. the guidelines cover everything from the removal of internal eu border restrictions to health measures for hotels. for more, let's bring in adina valean, eu commissioner for transport, and she joins us from brussels. how do you deal with each country trying to reopen on its own timeline, and yet a european union and european commission trying to come up with broad guidelines for every country? you should know that all of the number states would like some guidance from the european union because we had the experience when the lockdowns started to loom that the lack of coordination brought a lot of congestion and issues across borders. so now everyone is looking to us to say what rules should be but in place? when are we going to open up? but the ultimate decision, because everyone is asking when, it relies on the member state. that is because the epidemiological situation in each memory state is so theerent, so it is up to authorities a

the european commission says the eu is facing the biggest economic downturn in its history. t addicts euro area gdp will shrink 5.6% as debt surges. joining me for an exclusive ,nterview is valdis dombrovskis european commission vice president. great to chat with you. you expect a rebound in growth to about 6.3% next year. what needs to happen within europe to get there? mr. dombrovskis: indeed, if you look at our spring economic forecast with regards to the euro area, we expect a 7.7% recession this year, and quite strong rebound next year of 6.3%. this forecast is based on a scenario which foresees that confinement measures are concentrated in the first half thenis year, and we expect gradual lifting of confinement measures in the second half of the years, and also gradual resumption of economic activity, which then allows for the economy to rebound quite strongly next year. but at the end of the day, what thisportant is that scenario materializes. alix: i guess the question is what support do we need to see to get us there. during the press conference, the european commiss

spoken to the president of the european commission and in that statement, downing street says both leaders welcomed the good cooperation between the uk and the euriate citizens. the prime minister says, congratulating the european commission on the 7.4 billion euros raised at the pledging conference and britain was thanked for its contribution to treatment and diagnostics. the two leaders agreed on the need for ongoing cooperation and the need to fight against coronavirus. let's take a look at some of the other stories making the news. italy has become the third nation in the world to record more than 30,000 deaths from the coronavirus. the other two are the uk and the us. italy's latest daily death toll is 243. a disagreement over the appointment of a chairperson to lead a key committee led to fights breaking out on the floor of the hong kong legislature. the scuffle is the latest sign of rising tensions between pro—beijing and pro—democrat camps in the semi—autonomous chinese territory, which is scheduled to hold elections in september. the government of kuwait has announced that the country will go into total lockdown from sunday until may 3

. >> more than 6 million tourism jobs in the eu could be lost unless the industry is revived. the european commission says the is to encourage effective recovery but prevent a surge of coronavirus cases or risk it spreading even further across the bloc. barbara: the u.k. economy shrank by to percent in the first three months of the year, and there are fears it could get much, much worse. on wednesday, some britons returned to their workplace for the first time in seven weeks, but it was not a uniform move across the united kingdom. leaders in scotland, wales, and northern ireland say it is still too early to relax restrictions there. >> much has been made of britain going back to work. in the end, not much came of it. it is only really england that heated boris johnson's call for those who cannot do their jobs from home to return. scotland, wales, and northern ireland feel it is still too risky. some workers agreed. if theo not know infection rate is up or higher, to work, ile to go don't think it is the right time. andonstruction sites factories are some of the places that saw more work taking place

commission president said the goal of the fund is to develop a vaccine, treatments, and tests available to all at an affordable price. >> as scientists around the world race to develop a vaccine, the eu is trying to rally global support in the fight against coronavirus. in an interview with dw, the commission president called for a coordinated approach. >> we have to build up capacity to manufacture billions of doses, and then we have to make sure we can deploy it to every corner of the world at a fair and affordable price, and that is exactly what we are working on. for that, we need money and we need global cooperation. >> the pandemic is also putting a strain on state finances. countries like italy and spain want to support in the shape of so-called corona bonds, essentially a shared debt between european countries. but illustrating the north-south divide, the plan for solidarity has met opposition from the netherlands and germany. >> even though we will have the right balance of loans and grants, this is a process where we have to negotiate with all 27 member states. this is a democracy. we have to speak about the details, the tailor-made programs. but we all agree it is importan

more how on coronavirus the european commission has issued new guidelines on tourism and travel, for eupproach would begin with allowing in seasonal workers. restrictions would then be relaxed between regions where the virus was under a similar level of control. we'll hear from our correspondents in spain and italy injust a moment, but first to brussels and this report by our europe editor katya adler. an overnight leap from lockdown to european beach party this certainly isn't. eu countries are only just beginning to lift their lockdown measures. here in belgium they are opening the shops. next week, the schools. but with strict social distancing measures in place. so what does that mean for our holidays? well, ultimately, each eu country decides for itself when to open its beaches and borders to european visitors. brussels can only advise. today the advice was, slowly, slowly. first, open your borders to workers and for goods you need to get your economies going again, then think of tourism. if there's enough testing and tracing capacity for covid—19, and if there are strict rules on

the european commission is forecasting that economies of the eu are going to contract by a record 7.5%n 2020. of course the european union countries have already come together and agreed on measures to prop up the economies of the continent but also to combat unemployment. however, the european commission says it believes it will take at least a year for the economies to rebound. >> reporter: jordan says it has recorded no new coronavirus cases over the past eight days. but as it is gradual and cautiously reopening the economy, the risks are still high. the country of about 10 million people has less than 500 confirmed cases and nine deaths. they say that the reason for this initial success is because jordan moved fast, it hit hard with one of the strictest lockdowns in the world. they put a restrictive regime in place. they note price for this initial success is going to be the impact on the country's already struggling economy. >> reporter: i'm ivan watson in hong kong. in the chinese city of wuhan, that is the original epicenter of the crooronavirus pandemic where the disease was fi

the european commission has issued new guidelines on tourism and travel for eu member states to followh would begin with allowing in seasonal workers. restrictions would then be relaxed between regions where the virus was under a similar level of control. we'll hear from our correspondents in spain and italy injust a moment, but first to brussels and this report by our europe editor kayta adler. an overnight leap from lockdown to european beach party this certainly isn't. eu countries are onlyjust beginning to lift their lockdown measures. here in belgium they are opening the shops. next week, the schools. but with strict social distancing measures in place. so what does that mean for our holidays? well, ultimately, each eu country decides for itself when to open its beaches and borders to european visitors. brussels can only advise. today the advice was, slowly, slowly. first, open your borders to workers and for goods you need to get your economies going again, then think of tourism. if there's enough testing and tracing capacity for covid—19, and if there are strict rules on accommo

eu level? already spokeve with the european commission. we have to file with the ecj within two months.go before the end of may. but the problem is going to be it may take six to 12 months to get the cases, which are a breach of competition rules. it will take 12 to 16 months to get it overturned, then what? do you think the german government will allow them to go? we don't. it has never yet happened in history. what we should have to do is take the very painful decisions that the free market has imposed on us in this crisis. we will survive, but we will survive as an airline with a lower cost base, and much lower pricing for the next three to five years. we will be a stronger airline at the end of this, but only by taking this radical but deeply painful surgery we announced this morning. matt: there are only a few household names in airlines. i would put you up there, branson as well, and willie walsh. willie walsh is going to take state aid from spain. does that make sense to you? i know that you know each other. does that seem fair? michael: i don't think it is actually fair. said th

greece the hardest hit wih over 9% contractition e each ofe commission also predicts the unemployment rate will jump to around 9% for the eu as a whole and the government debt acrcross the block will store. the u. k. is known for a member of the europepean union iss addeded hes a technicality for other. options it for. it 3% this year upper. predictions of economomic recovery. for the two twenty one. in six. three issues between the u. k. under the- upwards talks taking. this but not for. okay let's to the stock markets on the closing bell on wall street. ababsolutey wewe saw- wall street closing sligightly further down the d dw jones losing about two hundred points at the close down about 1% there-- jusust under 1% ratar ththe nasdaq- onlyy managing a slightlyly positive close aboutt half a percentage point- it's very mixed picture here as we head intoo a another. week we're expecting more jobs to the united states- weekly unemployment c claimss expecteto come out tomorrow and on friday-- thehe government is expepected from thehe u. s. unemployment rate has officially hit 1 15% for the monthhf april couourse will have all

eu we are making progress. step—by—step. just by —— just today the european commission took poland to court again over undermining the independenceand this is something that you will, that is being built up that you will, that is being built up step—by—step. the procedure, as we call it, the article seven procedure... i know what you call it that interestingly i spoke to a seniorfigure in the hungarian government the other day and he said to me that the feelings of those european parliament liberal leftist politicians have no imprint on how we run hungary. put simply, we don't ca re we run hungary. put simply, we don't care anymore. it has gone on for too long and if he calls me a left—wing eyewear that is a badge of honour. but, look, if you want to join the clu b but, look, if you want to join the club you have to play by the rules. you do not want to accept the rules that you should not be a member of the club. you want to see hungary out of the club? one of the things we are seriously looking at is... you know, there is a perverse consequence of the eu having supported hungary and the other post 2004 countries with massive am

eu. a lot of details would need to howroned out especially exactly this money is dispersed, where there are commissionsthis comes a week before the european commission was expected to propose their own fund. what is going on? germanynk france and are stuck running the commission. i don't think it is a great time for the commission president -- they must have gotten somewhat fed up with what was happening in brussels and decided to make their own push. just two countries. although we know germany has managed to assert its leadership over other frugal member states, this time may be different. as we saw, the netherlands have been playing hardball on this recovery fund. i do not expect them to change. have a lot of time, but let me ask a pregnant question. where does the money come from and where will the money go? >> it comes from individual member states -- it comes from the european commission borrowing on financial markets, and individual member states will pay back the commission. we don't know what time span, but that's where the money comes from. where is the transfer element is that the money will

commission president ursula von der leyen said the final word is always spoken in luxembourg, the eu's highest tribunal. she is really hoping to avoid opening a real can of worms, considering that the german decision challenges the supremacy of european union judges. another risk is that other nations challenge the authority, and that could go on to threaten the future of the common currency. the mental -- but in the middle of all of that, christine lagarde says her institution is undeterred, and the ecb will do whatever it needs to do to carry the euro zone the crisis. alix: thanks so much. let's now turn to central bank reaction to the crisis. they are continuing to fight the economic downturn. the most recent is china's pboc, which said it will resort to more powerful policies. michael, bloomberg international economics and policy correspondent, joins us now. michael: and credit provision over always growing. china again teasing, not giving us a lot of details. the pboc says it is going to work to offset the virus impact with more powerful policies, paying more attention to economic

in total, the commission will raise 750 billion euros for next—generation eu. 0f raise 750 billion eurosssed on to member states. joining me now is kathleen brooks, director of minerva analysis. she's in london. it all sounds so easy coming from the president of the european commission, this is what we will do, but as we know, plenty of states with saying, "0h know, plenty of states with saying, "oh no, you will not!" that is a frugal fourth, the netherlands, austria, norway and denmark thank they do not wa nt to and denmark thank they do not want to think increases in the contributions to the eu. i think there have been quite, she has mentioned is quite interestingly, because it is all going through the eu's budgets are how they want to recoup the money is through levies and taxes so a green tax and that digital tax we have been hearing so much about for many years, and that can be a real attack on the tech giants to pay for the money. in your view, what will be the upshot of all of this then because as you say, we know those states that do not want it and there are the likes of france

according to the commission, tourism accounts for almost 10% of the eu's gdp, with some 267 million europeans the population, taking at least one private trip per year. but the world tourism 0rganisation is predicting a 60—80% reduction in international arrivals. in its guidelines today, the commission recommends limiting the number of passengers on planes, buses, trains and ferries, introducing allocated slots or a booking system for meal times and visits to facilities like pools or gyms, and physical distancing in communal areas as well as outdoor spaces such as beaches, pools, cafes, bars and restaurants. let's now speak to european commission spokesperson sonya gospodinova. thank you for being with us this evening. i know you are very busy but let me find out from you how this is going to work. happily do you think fema movement is going to return to the area? good evening. the commission has adopted today a package of guidelines and accommodations to help member states safely lift the restrictive measures and border controls while also respecting health precautions. and of course for thi

eu responded to some of the concerns you have raised? luther: i'm glad you asked. it is important to remember the european commission took up these questions immediately after the federal trade commission seven years ago decided not to take action. one decides not to take action against the dominant firm in an antitrust investigation after you as the regulator have been persuaded that this big company in question is not going to be as big in a few years. perhaps there will be more startups in that space. i think it's fair to say the decision to abruptly close the ftc investigation into google in 2013, that decision has not aged well. one reason it has not is that europe looked at the same set of evidence, it took more time to carefully vet the evidence, and came to the opposite conclusion. it ultimately issued a finding of guilt for these practices against google. >> do you think the efforts by the european commission to inject greater competition into search have been successful? luther: it is a mixed bag. i'm thankful for the work of the european commission on this and the leadership. i do not think the so-called

rebound quickly. 0n the flip side of that, on the other side of that eu coin, you've got the likes of greece, spain and italy where the commission're gonna struggle. they're gonna struggle to regain growth. they've seen investment just fall off the cliff. but also the big hit, one of their most important industries is going to take, and that's tourism. well, let's talk about tourism. italy's prime minister has been sounding positive about the possibility of people being able to take a summer holiday. evidently he's not the only one thinking about this. airbnb has reported a jump in bookings from europeans, and europe as a destination is hugely important to the national economies within it. the most recent figures show france had nearly 90 million international tourist arrivals in 2018, followed by spain with 82 million arrivals and italy with 62 million. and these three are the worst—hit in the european union. this is rory boland, the travel editor at the consumer advice organisation "which?". the chances of travel internationally generally are quite low for the summer season. what we are seeing happen is some countries where th

eu response right now. done talking about the ecb. the european commissionvery plan later this morning. it could be a significant turning point in the bloc's history, as member states debate the possibility of joint borrowing, of shared debt. let's get more with maria tadeo in brussels. what do we expect from ursula von der leyen and ecb? -- ursula von der leyen, this is her biggest moment since she has taken over the european commission. there has been a lot speculation about what will be unveiled today. what kind of fiscal stimulus and what kind of joint debt sharing burden are we going to see from european member states? there are three things to focus on. one will be the size of this. just how big is the budget going to be and how big will the recovery fund be? german and french are pressuring for 500 billion euros. lookecond factor really to is the compensation of it. are we going to see mostly -- grants, as germany and emmanuel macron are pushing for, or do we see it as long-term? ursula von der leyen already entered that we are looking at trillion eur

coming up, the eu vows to help companies access needed emergency funds. the european commissione president says business shouldn't face unnecessary hurdles. it's friday. it's a three-day weekend for me and for those of us here in germany, maybe for fiona, as well. come back for more. this is bloomberg. ♪ matt: welcome to bloomberg markets. this is the european open. on friday, we are just 37 minutes away from the start of cash trading across europe. it has been a banner week for indexes, rallying every single day they have been open. shortened trading week for the u.k. today, futures down. it could put an end to that. still, strong gains for the week unless we fall much further in today's session. promised to help companies access much needed emergency funds, but european commission vice president says the implementation is not even across member states. in an interview, he said companies and households seeking liquidity from banks shouldn't face adverse conditions, such as rising interest rates or excessive fees. fiona frick is still with us. what do you think of the stimulus,

i think it is unlikely the eu would throw out the deal, it has been put together carefully between lufthansa and the german government for week's. the european commissionht have amendments to make to the deal. the european commission is coming under pressure to not go easy. ryanair is making a lot of noise about lufthansa's bailout. lufthansa to a drunken uncle at a wedding. francine: how likely will this go ahead? we have heard carriers against it. will the german government get its way? how likely is the deal? >> the deal looks like we now. a deal broadly following the shape lufthansa announced this morning is likely in the coming days. francine: thank you so much to our reporter covering airline. coming up, as president trump sets up rhetoric against china, we will discuss international relations. --will focus in the last couple of minutes, we did have encouraging news out of the euro area, the euro economy seems to be picking up by some metrics. it is coming back from the deepest downturn ever, as there is relaxing of the coronavirus lockdown. bloomberg. on this is "surveillance." ♪ francine: economics, finance, politics. this is "bloomberg surveil

commission, borrowing from the financial markets in the european union's name. and it won't have to be directly repaid. instead, the funds will be recouped through the eu budget.on: europe must not close itself off from world trade. it must provide better support for the most strategic sectors, and we believe that we must share a common strategy of autonomy, industrial and economic cooperation. the plan is already facing criticism. austria's chancellor kurz insists any money must be given as a loan and not a grant. and then there's the question of whether it will be enough. europe, like much of the rest of the world, is facing its worst downturn since the great depression. will 500 billion do the trick or will much more be needed? tim allman, bbc news. this only is ordering all access to one of its games to be closed down. the game had 200 million users that it was closed down three years ago. but during a lockdown, one fan run site received a surge in popularity. joe tidy reports. by joe tidy reports. by modern standards, it is not what to look at, but club penguin, discontinued years ago, became an unlikely hit. unofficial fan discontinued years ago, became

eu. effort, how does this take us forward? >> it does in many ways. richest the two most countries in europe. to change theng conversation, they are looking at the european commissionhetically tapping markets to raise funding for countries affected by the coronavirus. bonds that could enter the markets that could change the conversation to the next stage. you are talking about fiscal transfers between countries, not a loan, it does not have to be paid back like credit would. they have been pushing for for weeks. caveat is this is going to have to be approved by 25 other countries. saying, we do not like it much, we have to see. at thewhen i was looking details, from what i understand, this is a blueprint. stumbling to come to a solution to share the responsibility, one of the issues was the loans versus grants debate. we have a blueprint, but how likely is it to go through given the opposition we already had on corona bonds for example from the countries you have mentioned? >> there are two elements. notla merkel said this is like the eurobonds, this is a tool in place. is willing to throw her political weight behind this proposal. that could give it some momentum.