bank has launched an emergency 750000000000 euro package to help the euro zone easy president christine legarde tweeted there are no limits to its commitment to the euro. china the epicenter of the original corona virus outbreak has reported no new local cases of the infection for the 1st time since it began recording them in january however there were $34.00 new infections imported from abroad which threatens the progress china 8. us president has invoked wartime powers to fight the coronavirus they allow the government to speed up private sector production of needed medical equipment trouble also signed an aid package guaranteeing sick pay for workers who fall ill. this is d.w. news from berlin for more follow us on twitter or visit our website that's the you dot com. up next made in germany a stricken economy is globalization to blame i'm monica jones and bill and i'll be back with more news at the top of the hour in the meantime from in the team thanks for watching. and. more. from the markets now in. the momentum of the morning world. made in germany. next. ringback is the human race to de

it's only promised by way of a statement from the president christine legarde targeted and appropriate action there's a meeting of the e.c.b. next week i don't know if they feel themselves under pressure with the fed now but we hear that what the e.c.b. is considering is not a broad stroke rate cut like the feds but rather targeted. help for small and medium sized companies it's a similar to korea it sounds like who are in trouble and in my mind it would make sense to wait a little bit more as the coronavirus plays out in order to find those who really need that help only what do you reckon about the action that's being taken in china and about the fed as well could we see more fed fed action as far as rate cuts go. they still have some room to maneuver in contrast to the e.c.b. where the rates are already at 0 i would be surprised if the fed acted again anytime soon the market reaction was not really very positive and a lot of people criticizing it is overblown i think the fed will wait till other central banks have stepped out and done their part and then see whether it's in demand a

stocks earlier in the picture was much prettier on european exchanges many eyes were on christine legarde the president of the european central bank called the coronavirus pandemic a great shock to the world economy and announced stimulus measures by these but it wasn't what many had hoped for. markets had been expecting a rate cut but that's not what they got from the euro zone instead there was a warning from the new e.c.b. chief that the pandemic was a major shock to the economy this requires a coordinated response from finance chiefs and governments to mitigate the impact. in particular and ambitious and coordinated fiscal policy response and vicious and coordinated fiscal policy response is required to support businesses and workers at risk. despite not cutting rates the central bank chief did announce new stimulus these included measures to support bank lending and expand its program of buying corporate bonds. investors had expected to slide cause in the e.c.b. s. already negative interest rates on banks deposits as a way to stimulate the eurozone economy the deposit rate was alread

to improve liquidity at the governing council led by a new president christine legarde left interest rates unchanged divergent and central banks of the u.s. and u.k. that saw the dax plunge. the god made it clear that the e.c.b. also wants to see financial efforts at the state level. and ambitious and coordinated fiscal policy response and vicious and coordinated fiscal policy response is required to support businesses and workers at risk. the governing council strongly supports the commitment of euro area governments and the european institutions to joint and coordinated policy action in response to the repercussions of the spread of the qur'an or virus let's look now at how the spread of the virus is having an effect elsewhere in the world. has asked it's all his work is based in the united states canada japan europe and south korea to work from home until april 6th has $27000.00 employees worldwide half of them outside the way this. coronavirus stimulus package announced by a stray in prime minister scott morrison today is worth about $11000000000.00 u.s. dollars millions of low i

yes we can and president christine legarde said. that there would be appropriate and targeted action commensurate with the situation so the e.c.b. will do something we just don't know what and when next week there is a policy meeting with all the decision making members. that are going to be present that will be a good time or would be a good time to present a solution if not until then something is presented what we're hearing is that it won't be a rate cut the lending rate is already at 0 for banks and the deposit rate it's in negative territory what we're hearing is that the e.c.b. is looking at injecting cash into small and medium sized companies that have gotten into trouble over coronavirus having to pay salaries having to pay suppliers landlords but it sounds that sounds more like economic policy on a trip policy. more more voices are emerging saying that these measures are all premature and some are even saying they're completely misguided what's your take on that. yeah that's my take on that as well i'm hearing that a lot f

behind me here you can see the building christine legarde the new president said that the e.c.b. is ready to take appropriate and targeted action and you mentioned the conference call of g 7 while the central bank chiefs will be integrated into the policy making there and because the central bank chiefs of indicated just were ready to act and it's almost impossible to me for them then to sit on their hands and say well we said something but we're not going to do anything after anyways it's calmed the market so far if they withdrew if they didn't do anything that would really send markets and perhaps also the economy into turmoil when the bonds in frankfurt thank you for this analysis. factoring firms with complex supply chains are among the most vulnerable to the coronavirus just a car makers are the most important regions for car companies in china is who bay province 10 percent of the country's comic capacity is based that international carmakers like general motors persia and rhino have all plants that bad who is also the center of the virus outbreak the virus doesn't even nee

conference with the european commission president of the 109 and the president of the central bank christine legarde etc. and with the heads of state government and i would like to just inform you about this conference. we obviously discussed the whole question of the coronavirus that was the focus of our video conference and just as an aside it was the 1st video conference of the heads of state government so you can see that digitization a new forms of communication have even reached as we discussed a number of different issues the 1st was the question of containment of the danger emitted by the corona virus the virus has reached europe it is here and we all need to understand this and the response that we put in place to a virus that we don't sufficiently understand so far one that we haven't got any vaccines for. so the standard for our political action comes from what scientists and experts say to us which is why it's so important to me that it's not just the german health minister sitting here today but the institute which is the government agency for disease control the robert carr institute's

head of the central bank christine legarde has warned the risks an economic shock unless leaders act urgently against coronavirus global stock markets have already suffered record falls in recent days the situation's been aggravated by the biggest collapse in the oil price in the early nineties the saudi arabia steps up its war for control of crude sales. takes a look at what could come next. 2020 will go down in history is the year where everything that could go wrong went wrong the subject that has dominated the news all week. the corona virus spreading fears grow of a global pandemic a huge spike in cases 3 prices down more than 22 percent earlier today the biggest loss since the launch of the gulf war the saudis have launched an oil price markets are getting punched in the face a decent bottle of wine is now more expensive than a barrel of oil which as a consumer you might think isn't so bad i mean cheaper fuel truck seems to think it's good. good for the consumer gasoline prices coming down so here's my question what's the point of cheap fuel when you can't drive or fly anywhere

that because this is really the big threat behind this is the huge a european wide recession christine legarde the president of the european central bank was present during this video called they have they will probably they are expected to go even further into negative interest rates on thursday when they have their meeting and they head of the euro group said we will do whatever it takes we recognize the sentence so yes they will really pour all the money they can muster onto this to cushion the blow to the european economy and particularly of course in the 1st place to italy which is hard hit hardest at the moment to be used for provisional the story for us tonight in brussels barbara as always thank you. the corona virus is spreading here in germany as well with 200 new cases recorded today tuesday in this 6 worst affected states germany has advised citizens to avoid travelling to italy it's also called for the cancellation of any public gatherings of more than 1000 people. images like these are likely to become common in germany soccer matches without spectators a precaution against the c

day loss in history it's the 1st major test for the new president of the european central bank christine legarde and she is warning that the economy is facing a major shock. governments and all other policy institutions are called upon to take timely and targeted actions to address the public health challenge of containing the spread of the current of virus and mitigate the economy impact. in particular an ambitious and coordinated fiscal policy response. well the financial losses are getting a lot of attention but on the ground this is about people's health and lives being threatened that's true here in europe as well as the united states and there are many things that we don't know about the virus so let's talk to the voice of reason and the voice of call john campbell is a doctor and he's been educating the public about the outbreak on his you tube channel dr campbell it's good to have you back on the show we spoke last week and i mean i'm sure you're agree with me it is a completely different world today than it was just a week ago when we're talking about this virus absolutely there's no qu

that because this is really the big threat behind this is the huge a european wide recession christine legarde the president of the european central bank was present during this video called they have they will probably they are expected to go even further into negative interest rates on thursday when they have their meeting and they head of the euro group said we will do whatever it takes we recognize the sentence so yes they will really pour all the money they can muster on to this to cushion the blow to the european economy and particularly of course in the 1st place to italy which is hard hit hardest at the moment to be used for provisional the story for us tonight in brussels barbara as always thank you. well still ahead on the day as joe biden and bernie sanders battle it out on this 2nd super tuesday no one can accuse them of being too young w.'s alexandra phenomena calculates the age factor in the race for the white house there has never been a moment in american history when so many top contender thought a presidency has been in their seventy's meaning questions about age related insa

that at least one person it doesn't agree with me is the chief of the european central bank christine legarde i mean we have seen relatively measured efforts so far with a few more bond purchases and a little bit of adjustment on amending rates and we have actually seen quite a bit of a recovery over of the last a during the trading that we've seen today with the markets going up as much as 7 percent but unfortunately for europe with this is just the beginning we are now in the beginning of march which is the equivalent of if you look at the route 100 elements equivalent of where china was in the middle of january we have only see the beginning and we need to bear in mind that europe is extremely trade dependent perhaps even more than china and were facing a pretty gloomy prospect in terms of 2020 in g.d.p. growth in the 1st place so we haven't really seen the worst yet ok i want to demystify some of the jargon of people talk about a bear market bear some bulls i know this is quite basic for you but for all of us what a bear market place is classed as a 20 percent for in the stock market from

restrictions that apply to previous asset purchase programs have been completely removed as christine legarde announced quote there are no limits to our commitment to the euro so even as we are now in a brief period of calm optimism in the equity markets the 1st time in about 3 weeks there is still too much uncertainty in the air and too soon to declare a lasting bottom extraordinary central bank measures along with historic fiscal efforts have work to stem the purge but now comes the really hard part the implementation and the execution they have learned from 08 that ensuring cash and liquidity to the economy to mitigate the widespread unemployment and curve insolvencies can make the difference between a short contraction versus a prolonged recession and as most companies are now facing cuts with an uncertain timeline for reopening they do not have the luxury of time and they are in dire straits as a stimulus bill makes its way to approval timing is everything now in order to prevent a long term erosion to the market to confidence and the over all that they will market well kristie the g 20

the president of the european central bank christine legarde has pledged to do whatever she can to stop the eurozone from breaking up while the british government which has been under pressure to toughen its approach is now asking people to avoid non-essential travel and pubs clubs and theaters meanwhile u.s. president donald trump position similar advice and is no social gatherings of more than 10 people well alan fischer brings us more on the latest moves by the united states. if there's a cure for coronavirus this might be it in seattle u.s. researchers have given the far short of an experimental vaccine developed in record time everybody's feelings are helpless right now i. realize that there was something that i could do to help i'm excited to be here but it could still take a year to have something for universal use back in washington the president and those dramatic new steps to reduce the chance of spreading the disease my administration is recommending that all americans including the young and healthy work to engage in schooling from home when possible avoid gathering in group