for and if they will be effective enough to save as many jobs as possible. thank you very much for that as well senior economist at the center for economics and business research published says in spite of the chance of those pledges the worst of the damage will become clear once government support schemes get stripped back that dynamic at play areas that are also very effective in and providing this crucial battle between households and. being around them and. drawn swarthy and i think that's where that's where we may are. more widespread layoffs and then down. against nearly 4 years as a long time isn't it of course you got to bear in mind those local economies who had to a lot down again for example lester i mean how will they be affected. absolutely i mean any time economy has to. get out of the data and reimpose into lockdown conditions and exist instead of going down it's not only in terms of the demand side but also the supply side equation so once they're out this crisis be are going to be provided and you know we've been monitoring our businesses expect are assessing the long term damage so that. we really finding that through each week of locked down

seeing a number of analyses carried out by some financial institutions including the center for economics and business research who say that the economy won't recover to pre coded levels until 2024 and that's assuming that there isn't a 2nd wave of the virus no under that scenario g.d.p. will fall by a massive 11 percent this year but if there was to be another peak g.d.p. would fall by almost a 5th and the level of exports would fall by 23 percent we've also been seeing the i a fast institute for fiscal studies or from vero critique of next policies in particular the one mentioned previously regarding paying companies a 1000 pounds to take back followed stuff and the i 1st wondering what the long term impact of these measures will be. a lot probably a majority of the job retention bonus money will go respective jobs that would have be indeed already have been returned from furlough anyway much of the vaca on the stand you speak up will be that weight the missing 15000000000 for p.p. may be necessary but i think we can expect to pay quite a lot for the equipment that buys the time to pay for all this will come

be to stave off any long term damage to the economy we've been hearing from the center for economics and business research now we can have a look at some of the numbers that c.e.b. are are trying to portray really and to try to push up they're saying the economy won't recover until 2024 and that even without a 2nd wave they say g.d.p. will fall by 11 percent this year again without a 2nd wave if there was to be another peak g.d.p. would fall by almost a 5th amass of amount when compared to past economic crises and also saying that in those instances exports would fall by 23 percent it's not just the c.e.b. are it's 2 to fiscal studies the 1st they too have been taking a look at some of the government's measures criticizing for example the measure are mentioned before about paying companies a 1000 pounds to bring back followed stuff but as far as the concerned this impact on the economy will be long term. a lot probably a majority of the job or attention bonus money will go to respective jobs that would have be indeed already have been returned from furlough anyway much of the vaca on the stand you speak u

suggested he is at least hopeful way to see that if vicky pryce now chief economic advisor at the center for economic business and research she says these negotiations cover a huge sum of money. overall we're talking about a figure of 1.85 trillion which will need to be raise some of it quite soon the recovery fund itself within that will be raised over the next 4 years in the capital markets the rest which is the budget is being paid for by a mix of being 80 payments that individual countries have to then transfer to the center and also import you to use and which are quite importance and there's those also go back to them so so there's a mix of funding mechanisms that exist solely you state each of course i could she be very significantly in terms of allocating a certain amount of revenue according to their size so that at least is agreed in terms of the general principle the recovery fund itself will be raised in the markets and the question is how do you pay back into the ones period the repayments are going to start in 2028 but of course in your party the budget itself maybe you'd be in countries individually will ha

in the aftermath of the impact of coronavirus and co with 19 let's talk to vicky pryce chief economic advisor at the center for economic business and research she joins us on skype from london vicky pryce break this down for me what are the merits of grants versus loans. but obviously if you're a boring you're going to have to pay that back in interest which will be charged and given that a number of countries in europe particularly the southern european ones the ones like greece and italy in particular also to physical extent portugal and spain have very high debt to g.d.p. ratios already asking them to take on the not want debts particularly now that the have to will soon giving they have a need to keep their economy going because if endemic is going to be a very short order and is something which is being resistant hence the reason why quite a large part of what is proposed is in the form of grounds which are not going to have any interest rate obviously attached to them and they do not need to be repaid how do they fund this. that's very interesting because the negotiations right now are not just about recovery from itself which is abou

rights and there's some personal grievances in among some of them as well well here's some thoughts now from vicky pryce chief economist advisor at the center for economic business and research she told us the negotiations really do cover a huge sum of money. overall we're talking about a figure of 1.85 trillion which will need to be raise some of it quite soon the recovery fund itself within that will be raised over the next 4 years in the capital markets the rest which is the budget is being paid for by a mix of being 80 payments that individual countries have to then transfer to the center and also import you to use and which are quite importance and there's those also ringback go back to them so so there's a mix of of funding mechanisms that exist so be you state each of course i could she be very significantly in terms of allocating a certain amount of revenue according to their size so that at least is agreed in terms of the general principle the recovery fund itself will be raised in the markets and the question is how do you pay back into the ones period the repayments aren't starting 2028 but of course your party the budget itself maybe you'd be in countries individ

center for social and economic research. we will get his thoughts on what these results mean. let's get a bloomberg business flash.of the top corporate stories at bloomberg. white house traded pfizer peter navarro says he expects president trump to take strong action against chinese owned social media app tiktok and we chat. he said the administration is just getting started with the apps and wouldn't rule out banning them. he says the sale of tiktok to an american buyer wouldn't be enough to solve the problem. credit suisse is said to be considering cutting hundreds of jobs as the coronavirus boosts online operations. a swiss newspaper reports the bank is looking to save money to meet profit targets. to bew ceo is said considering cuts to the lender's domestic branch network rather than splitting off the investment bank, which was the cornerstone of his predecessors plan. tesla has shaved $3000 off the price of the model why crossover four months after sales began. the cuts see it drop below $50,000. the reduction follows similar moves for tesla's other models, 3, which some csi do with demand. tesla -- signs of

business connected. >>> welcome back to squawk box it's a big week for economic data reports and joining us now is the income strategist at the center for financial research and the global market strategist at jp morgan asset management. great to have you with us. we have gold hitting an all time high we have the ten year yield at .57%. we have the dollar index at 18 month lows s&p 500. 5% off the record highs. what do you make of the market action right now >> so you know, i think that it's important to take a step back and realize that one things have moved pretty far pretty fast two a lot of this has been driven by the policy response and there's now some questions coming in to play around what continued policy supports are going forward and you do have concern in the technology sectors and i think markets going back here is really just more consolidation arguably what's most interesting from our vantage point is not only what it's doing to precious medal prices and commodity prices but more broadly what that signals about the state of the global economy a weaker dollar would be extremely inflationary and helpful at this juncture bringing the global ec