is ludovic subran with allianz.ossible third wave of infections and what these lockdowns are doing in europe, are you less bullish on europe than the u.s. right now? ludovic: because of the uncoordinated stop and go policies, you know, what you see now is not only, you know, the second wave or the third wave, it is that countries are doing something which is very costly for europe, for, you know, ng in someskii countries are forbidden. weconcern is at the moment, are very worried on brexit at side, europe went big and bold and the announcement, now it is all about spending the money. we are still missing some plans from italy and spain when it comes to what they want to spend the money on. so that is the only reason we are less bullish on europe, but it takes 27 times longer to agree on something than the u.s. francine: when you look at the recovery fund, is it a real game changer for europe? what more do you need? i may ask you about brexit, but what more do you need to see in the next 5, 6 months to make sure that

we will get back to ludovic subran. coming up, does the german government expected the retraction to be less severe? this is bloomberg. ♪ francine: economics, finance, politics. this is "bloomberg surveillance ." let's talk about germany, expecting the economic fallout from covid-19 will be smaller than it earlier projected. they areold bloomberg due to present the outlook at 10:00 a.m. u.k. time. the biggest economy has staged a strong rebound after collapsing in the second quarter during the coronavirus lockdown. ludovic subran, economist / head of economic research, allianz is still with us. what will that second lockdown look like, to have a path forward for germany? does euro strengthened from here because the situation will get better? i think the situation in the manufacturing sector is getting better. we saw good numbers from the beginning of the summer on. on the consumer side, that was the first to pick up. now there is a plateau, 80% of consumption. it is a bit optimistic from the german government to update

still with us is ludovic subran.nnel,ke german saying they need corona bonds and more support from germany. germany is pushing back. is this a make or break situation for the eu? >> i think this is the ultimate litmus test for the validity of the european union and the euro zone. either we let it continue to the national government or we find some type of institution. bond, we do a corona which as we discussed, i think it could work but it has to be longer by all the countries. luxembourg and france of the world have to ask for this. they would need to discuss the what instead of the how. not's istion we have fiscal transfers. we have to use one of these options. it is economically sound but a political nightmare because it goes back to how much risk sharing we except within the euro area. that is probably the most difficult question to answer. does it need to be answered now? ludovic: i think we have to do something, yeah. it does not have to be so political. the ecb already put the cart before the horses by announc

francine: thank you so much, ludovic subran.he world's august we will be talking with the chief executive of novo nordisk. that is coming up shortly, and this is bloomberg. ♪ francine: this is "bloomberg surveillance." let's get to the bloomberg business flash with ritika gupta in new york. ritika: hi, francine. unicredit has posted a $2.7 billion -- two point 7 billion euros loss. business remained resilient in the first quarter. it was the first big european back to -- bank to quantify coronavirus impact. theriley is apologizing for company's past wrongdoings. in the story that brought down south korea's president. he has been entangled in allegations for years including a stint in jail. latest hurdle for chief executive elon musk to collect the first chunk of a big reward to give musk access to stop doctors -- two stock to give musk access to stop auctions. that is the bloomberg business flash. francine? much,ne: thank you so ritika gupta, with your business flash. they won't's biggest maker of insulin has reported sales grow

ludovic, thank you for joining us today.is conversation with matt and i on bloomberg radio at 9:00 a.m. u.k. time. we go there after the tv show. coming up, as infections in hong record and aily u.s. congresswoman calls florida's outbreak out of control, we look at the coronavirus situation up next. this is bloomberg. ♪ matt: welcome back to the european open. 21 minutes into the session. we are looking at drops of on the ftse. and almost 1% on the cac as well. the u.k. says it secured early ofess to 90 million doses coronavirus vaccine candidates. confirmede number of cases continues to grow globally. covid-19 flareups in asian have prompted some governments to tighten restrictions again and banks are suspending their plans to return staff to offices in hong kong after that city reported a daily record of more than 100 new cases. outbreaks., florida's has been described as totally out of control by a democratic representative while the mayor of los angeles says his city is on the brink of new restrictions and possibly going

in composer preachiness most popular works it's a major rule not just for next trip but also for ludovic t.-z. as the villain. it's pure joy to kill him. it's an outdoor concert that leaves us hungry for more. this is exactly what probably oprah is missing today to be in the center of the life to be in the center of the city all perrott somehow always borne one scene apo so it comes from the street from not produce street we are back into the street. but it's not just neapolitan so you can enjoy tosca a life stream on the 30th of july brings the performance to the world. your focus you want to be there this is due to readers life for a roll and don't forget you can keep up with all the latest headlines for heading to our website let's do the things that come to us on twitter by using the handle. news somewhere hakan bellatrix watching. combating the corona pandemic. where does research stand. what are scientists learning. background information and news. hour carona day. in the cove in $1000.00 special next on d w.

more than a 100 innocent civilians when ludovic has to live you can see in yours and we found out more i was surprised about the extent and its occurrence which the collusion was involved in some of those cases the killers would later be named into the gang i think it went to the very very top i think if he thought for all the water where all the taste and smell you thought was going on and gave the go ahead. there. on. there the medium jelly being there the new medium on ice cream however we don't have a medium want to do after the why not so that is what i'm pushing ocean society to create. it will be a maverick. gamble actually have. well you can go. down any president could. but you know what. you know. and if you give me enough i want to do you have one and they could care. and you take your back. from. they just going to. argue what i was raised. right here. because also. i can show you my face. i'm going to you my story. i back end up in this situation. why did i do this to myself. after 20 years of contemplating this. crap about it was that it could be different. i get it now.

of thpublic health department our goais to be able offer free testing all over the county doctor ludovicsan is leading the free teknow bring your friends and familywhtested were actuall kis. >>basically since birth which n bring your ideal be asked to fill out a very simple demographic for him. then we'll and you'll get called the by the next day if your test is positive says you will receive negative test results within days, the actual test involves a less intrusive ab technique which the or comfortable testing experience for people of all ages, it looks look like a q tip and basically goes just inside your nose creekside park is the location of another pop-up covid-19 testing site this family decided worth the wait in this long line for their first test since the outbreak of the pandemic we don't think the how t just to be to goto t it up. work out some of the plays at this that idence is walkout so santa clara county is important to note thathese p for people who are not experiencing any covid-19 symptoms our here is to do a symptomatic testing we do want people if they're having sy

in the burning of coal streets in belfast at the time more than a 100 innocent civilians were in ludovic as the review can seniors and we found out more i was surprised about the extent and its occurrence which the solution was involved in some of those cases the killers would later be named into the now we're getting i think it went to the very very top i think it is. the water where all the tastes and you thought was going on and give the go ahead. you can't argue with nature and its nature that has to live through this message and so will we know only your more i'm going to have to adjust the way they live and conduct business to take into account this new planet vitally important aspect of our life the need to insist we coded 900 i think that some changes in a concert direction are going to happen out of our self interest and says species we can't survive without changing. our headline stories this hour a knife attack in a park which killed 3 in southern england is declared a terror incident by police the sole suspect is reported to be a libyan asylum seeker. also ahead. one person i

in the burning of full streets in belfast at the time more than a 100 innocent civilians were in ludovic as the review can seniors and we found out more i was surprised about the extent and its occurrence which the collusion was involved in some of those cases the killers would later be named into the now we're getting i think it went to the very very top i think it is the focus of frost's the water where all the patients you thought was going on and give the go ahead. for years i had treated patients with heroin addiction with high dose methadone which is the appropriate treatment and so i was thinking well i see how well that works for all these people and they don't tend to overdose on it or have a lot of side effects or have any problems so why wouldn't that be fine for pain patients i do recall individual young man who had a rough go early in life had some problem with alcoholism was in alcohol recovery a number of back surgeries and i was in the middle of a tapering course switched him over to methadone for his other drug to ease his taper and using misguided conversion tables. 3 d

participants in the burning of coal streets in belfast at the take more than a 100 innocent civilians when ludovic as the review can seniors and we found out more i was surprised about the extent and its occurrence which the solution was involved in some of those cases that killers would later be named into then and we're getting i think it went to the very very top i think if the phones crossed the water where all the taste since you thought was going on and give the go ahead. i 1st heard about we can examine a song from the helicopter footage in iraq. i think the town actually called women in the u.s. military who have never forgiven for. this guy is a traitor a treasonous and and he has broken every law united states illegally shoot son of a us really story to have. independent journalist and dad with the puter to st cyr is what crimes and to a global audience. the idea of developing an anonymous digital dropbox and applying it to a media organization is because they felt that was the 1st. they didn't control anticipate that he would be for a short while old friend and run one of the very world

participants in the burning of coal streets in belfast at the time more than a 100 innocent civilians women ludovic as the review can seniors and we found out more i was surprised about the extent and of the currents which the collusion was involved in some of those places that killers would later be named until then and we're getting i think it went to the very very top i think it is frosts the water where politicians you thought it was going on and give the go ahead. this is an invalid you know that. the russian ministry of defense has confirmed that turkish troops were among the militants fired on by syrian government troops and it live province on thursday claims 33 of its troops were killed. and other news as bernie sanders surges in the polls one democratic billionaire donor tells the party to unite behind anyone else claiming the socialist senator can. we look at whether the road to the white house is paved not with votes but dollar bills. and a court in the german state of has to have upheld a ban on head scarves being worn by judges and training lawyers in the courtroom.

ludovic he's about to welcome. how could an election into wrong one of the smallest german states bring down the hand selected successor to angela merkel on a graph are are you that weak as a party well i don't think so but we have under estimated or the ramifications of touring year or so that we have to recognize that the christian democratic union has lost the elections in this country some months ago and we have not taken serious consequences so this was the 1st mistake inside the party of touring the 2nd mistake was that we have underestimated the role of the parliament interest and 3rd we have underestimated from the law and the f.d.a. and therefore i think we should be very decent and very careful for the next weeks let's talk a little bit more about the f.d.a. because uncle americal german chancellor has called for a new election the f.d.a. is feasting on this chaos they say the following. they say that a new election is not democratic and the c.d.u. is ignoring a quarter of the electorate how could you the

and composer preachiness most popular works it's a major rule not just for the trip but also for ludovic t.-z. as the villain. it's a pure joy to have her killed. it's a new door a concept that leaves us hungry for more work. that is exactly what the problem is missing today to be in the center of the knife in the center of the city or purab somehow is born one scene so it comes from the street from not the new street. we are back into history. books it's not just neapolitan so you can enjoy tosca a live stream on the 30th of july brings the performance to the portals. cancelled after us are one thing what if you're in love but can't express it in person because of travel bans some lovesick couples have started a campaign their calling love is not tourism hoping governments will help them. oh it was your 645 wait. oh really i only. the are yes i am i watched hannah and dry and have not seen each other in person since january because of the covered $900.00 travel ban they say talking to each other even several times a day doesn't make up for it i just missed her i am trying and getting bu

way so does most of the russian capital ludovic who has just to the most to mash suitcases and indeed the most. city has just it has on the table and a really staged lot as a show sure to how the russian capital is going back to normality. gradually even opening box for instance and letting people go through wolf walks that also as you said opening the nandan food shops as well as business is the do not imply a close contact with people like for instance try cleanness but perhaps more importantly now that most of these 40 percent drop in cases weeks ago now that in moscow more people of be released from hospitals rather than admit them now the russian capital is looking at lease and. other russian regions who lost still hietala still in the midst of this pandemic and they are already the russian capital is already sharing experience only $17.00 us for instance must use leading cultists they ostend knowledge as to how to combat the. how to say the people they are asking that knowledge to their colleagues in other regions and also in the next 2 days moscow will be sending in specialists

government promised to review, or lower air passion duty, a tax of £13 per person on short haul flights ludovicving uk airports —— air passenger duty. flight be hope to see that cut in half. however, the government has said it cannot do that until eu rules cease to apply injanuary that until eu rules cease to apply in january 2021, meaning that until eu rules cease to apply injanuary 202i, meaning any talk of a potential government loan of up to £100 million to tide the airline over would be seen as throwing good money after bad. even healthy, profitable airlines are struggling to cope with the impact of coronavirus. ba has slashed hundreds of flights, and virgin atlantic has asked staff to take unpaid leave. an airman dashed an airline like flybe, already in poor financial health, has been finished off by a virus whose economic impacts continue to spread. 0ur sports presenter, holly hamilton, has been on a flybe plain and earlier told us what she knew from terminal three at manchester airport. weep boarded the flight earlier from manchester to belfast. we heard there were problems with flybe a

participants in the burning of coal streets in belfast at that craig more than a 100 innocent civilians when ludovic as the review can seniors and we found out more i was surprised about the extent and of the currents which the inclusion was involved in some of those cases that killers would later be named into the nanny gang i think it went to the very very top i think it was frosts the water where politicians you thought was going on and give the go ahead. and have a 7th is later systematics know how that is not for this matter that there. are no human or clerestory care. actually an area where. there is no no no not. in a way at all of them ok if there. was not a master plan a kill with a battle they are late for would have a good watch that would allow that to be. the military. even. if the needed not. what the how they were not allowed the assume. one in a and not those they need the whole corps to go before. well not a whole. lot of money. for employees from russia sputnik news agency in turkey have been released they were detained earlier in the day and taken in for questioning. the news gree

also, a time of conflicting emotions for ludovic, a firefighter with telfair.es while he's lost his own. >> >> when i last was that without my family i wanted to go back to . and when i was at work i was thinking about my family's. >> reporter: no help in rebuilding their future. photos, taken by photographer who found highlights and shadows, a nonprofit based in vacaville. >> we have these photography skills, why not use it to actually help others? >> reporter: she's offering free photos to survivors of northern california fires. claudia says she came up with the project with her church, san francisco zion, encouraged her to help others in creative ways. >> being able to see that there is hope and that's something that is really encouraged us to do this project. >> reporter: where the photo shoot takes place as the families tries to claudio and her volunteers tell me they are willing to go just about anywhere in the bay area. in the past few weeks claudio has taken photos of families in paradise, santa cruz in vacaville. >> i'm just really happy they are able

santa clara public health department our goal is to be able to offer free all over the county doctor ludovict-san is leading the free testing operation of this uh you know bring your friends and family who want to get tested were actually testg kids. >>basically since birth which is not as typical at all sites. you don't even need to bring your ideal be asked to fill out a very simple demographic for him. >>and th we'll watch you in anyou'll get called the by the next day if your test is positive says you will receive negative test result within 3 days, the actual test involves a less intrusive swab technique which the says provides a more comfortable testing experience for of all ages it looks look like a q tip and basically goes just inside your nose cupertino is creekside park is the location of another pop-up covid-19 testing family decided it was worth the wait in this long line for their first test since the outbreak of the pandemic we don't think the how but just to be confident it up. >>and in case we had to do was go to work out some of the plays at this that confidence is walkout s

ludovic. any of that is true policing in only him for the see it is a messy manly who has no namely they only been learned anyhow. but can we not see it has not stopped you have ukulele assemblage each of us of a household mentions a lot about a funny year old or sorry i'm actually at that house for the record and the whole movie to watch the whole. scene. and mess a little being on so i mean i she had told me to talk about it on attention. or we're. going to. see. a little future jeffy in winter but the chemical do and it's time to do with that time and how would you have a mission and machine was who want to have this to believe and then if you know what have you and how many and when he was a didn't want to be and has nobody to be she. the problem for you having to do. with a movie. with a big. movie. well yani in all let me walk off a man. jaish al-mahdi. of what fit. was a field of human who will get year 11 had. huckle if he thought what you bet he. man. has to get that high lift the hor

in the burning of full streets in belfast i thought like more than a 100 innocent civilians when ludovicas the review can seniors and we found out more i was surprised about the extent and of the grades which the inclusion was involved in some of those cases that killers would later be named goodwin and we're getting i think it went to the very very top i think it gave the cross the water where the. patient you walk to school you don't give the go ahead. by a max keiser this is the kaiser report hey let's say the guy down the block from where you live is counterfeiting lani and he's by and stuff eat he he created an extension on a south super lot of new boat he bought a new car plus 5 new cars he bought another new boat he bought a lot of jewelry he's live in a large would you say that the wealth on that street is disproportionately heading into that guy's house because he's able to counterfeit money and spend that money would you say that i mean that's not hard to comprehend right stacy yeah we're going to talk about can tell you a fact and how that spreads down through a systemic form

participants and the burning of coal streets in belfast at the time more than a 100 innocent civilians when ludovic as the review can seniors and we found out more i was surprised about the extent and of the currents which the pollution was involved in some of those cases the killers would later be named into the noun gang i think it went to the very very top i think it is. the water where all the taste and you thought was going on and give the go ahead. you cannot be both with the yeah you like. listening to national will discover that when he believes molested that solicit it to prevent you spew false and it's kind of seen from the regular morgue you're more your partner going through for the right. oh. ya bush or psych you would all but us lucifer mistletoe is just that in the gutter at them to fail nobody it is not my achievement mr davies are 5 you have plans were conceived but indeed and carried out by the people themselves if al would produce or even florek it with the idea of making a film like this they'd probably be branded as crazy. how was the sentiment during the war the soviets were b

public courtesy ofthe unsanta clara pu department our goal is to be able to of over the coun doctor ludovict-san is leading e free nt to get your frqends tested were actualy testing kids. >>birth which typical at all to o fill out ry simple demograph >>and then we'll watch you in will receive caif your test is negative test 3 daysactual testnvolves swab technique which the says provides a more comfortable testing experience fle of alages, it a basically goes just inside your nosepertino is creekside park is the location of another p-family inir first test since the but just t (çconfident it se we had gs a this t nce is say imrtclara county these pop-up testing sites are for people who are not symptoms our goal here is to do a symptomatic testing do want people if they're hang symptoms of cod-19 to h th provider me test iy sing hithere are 6 cov made you cry on for a website. ns. library o the east bay now are jobs in costa county county's boa approved the layoffs icounty li du each of the tem's 26branches wh baseline library paid wide tax revenue 10 contra the extra just to have thei we