e.u. central bank now that bailout hasn't happened yet they're still planning on it but as for c.n.n. they've been reporting a lot about how italy needs masts and doctors testing equipment. it's difficult to procure italy with those since the us needs a lot of its own but there's no mention of this aid from russia so while you know there's still a lot of talk nato has sent one plane of aid to italy and there's a lot of talk of other countries doing the same so we're going to have to see how that future aid pans out pity the politics is still being bandied around this difficult time for everyone isn't it russia trying to help do its best but hey that's the thing it is doing its best and it's helping others the one thing don thank you for now let's go to rome will go to italy with a country that's big help by russia at the moment we can talk to francesco jubilees president of the conservative think tank future nation hey there francesco thanks for being live with us on the program yet so russia is willingly sending help here to help you and your fellow countrymen that need it so much ri

e.u. central bank the european central bank it was already in negative interest rates you can't really go much further down than that so they were still recovering from the last recession how what are they going to do this time is a question that's a big question we we talked a little bit about this yesterday what industries do you think will most likely be reshaped by this and the united states wanting to give a $1000.00 to everyone it sounds like a guaranteed basic guaranteed income in the making there is an amazing that a republican president is the one who's having to invoke new measures. you know basically suggested by the democrats we should say and he accepted them but basically he's going to be the one who's going to put in unimaginable measures to try and right this economy and this is someone who really want to be hands off and even really sort of encourage things through stimulus tax and things like that now the government's going to have to play a massive role to save these industries the airline industry will of course it's facing probably the biggest challenge ever boeing th

banks in the e.u. to improve liquidity at the governing council led by new president christine that god left interest rates unchanged diversion from central banks in the u.s.c. . but european central bank takes action against the coronavirus fox investors say it's not enough shares go into freefall again will try to find out if e.c.v. can do anything to stop the spread of a float. and china says the peak of the coronavirus epidemic has passed but asian markets ignore the numbers and the stimulus that governments are throwing at the infection. and it was all a let's do business investors and not liking this the e.c.b. announcing it will release a batch of cheap loans to help member states deal with the coronavirus and that it will expand its bond buying program both moves intended to stabilize jittery markets and aid small businesses e.c.b. also says it will ease capital requirements for banks in the e.u. to improve liquidity at the governing council led by new president christine the god left interest rates unchanged diversion from central banks in the u.s. that u.k. deposit rate was already at a record low of mine is point 5 percent. wel

is testing the political will of the european union the european central bank has already announced unprecedented action to support e.u. members and enterprises of member states themselves can't agree on shouldering the financial burden was half of the half 1000000 confirmed cases worldwide in the e.u. the pandemic is poised to hit it harder than the economic and migration crises bringing old fault lines between northern and southern europe back to the surface protective gloves now are a regular feature in the european parliament the assembly is largely empty any piece you do intend are taking extra precautions on the agenda forging a common e.u. response to the coronavirus crisis when europe really needed it all for one spirit too many initially gave only for me response. and when europe really needed to prove that this is not only a fear whether you win too many initially refused to share their umbrella an umbrella some members remain reluctant to share that includes funder lions home country germany even as the penn demick storm intensifies across the block thursday 6 hour video conference with the e.u. is $27.00 n

banks in the e.u. 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 income earners will receive one off cas

banks in the e.u. to improve liquidity but the governing council led by new president christine that god lift interest rates unchanged divergent from central banks in the u.s. and u.k. deposit rate was already at a break although of mine is point 5 percent. well let's have a listen into what god had to say together with the substantial monetary policy stimulus already in place these measures will support liquidity and funding conditions for households businesses and banks and will help to preserve the smooth provision of credit to the real economy let's go over to frankfurt where chelsea delaney is standing by for us our financial correspondent chelsea tell me about the condit on exchanges it does not look like a good day now of the markets or are the really taking a beating before the e.c.v. decision and this really just it was a surprise and a big disappointment for investors they had pretty much across the board been expecting a cut and and the main interest rate and the e.c.b. did not do that so we're obviously seeing i shake out in the market right now but there had already really a lot of a lot of anxiety coming into this especially

banks in the e.u. to improve liquidity but the governing council led by new president christine that god lift interest rates unchanged diversion from central banks in the u.s. .

banks in the e.u. to improve liquidity at the governing council led by the new president christine that god left interest rates unchanged diversion from central banks in the u.s. and u.k. the deposit rate was already at a break although of mine is point 5 percent. well let's have a listen into what like god had to say. together with the substantial monetary policy stimulus already in place these measures will support liquidity and funding conditions for households businesses and banks.

all the head of the european central bank has warned if the e.u. fails to act against the coronavirus it risks an economic shock global stock markets have already suffered record falls in recent days and the situation has been aggravated by the biggest collapse in the price of oil since the early 1990 s. my god looks at what could come next. 2020 will go down in history as the year where everything that could go wrong went wrong a 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 and oil prices 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 trump 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 because of an ep

harder than the previous economic and migration crises the european central bank's already announced unprecedented action to support e.u. members and businesses the member states comments agree on how to distribute the financial burden and this is resurrecting old fault lines between north and south protective gloves now a regular feature in the european parliament the assembly is largely empty any piece who do attend are taking extra precautions on the agenda forging a common e.u. response to the coronavirus crisis when you really need it and only one spirit too many initially gave and only from me response. and when europe really needed to prove that this is not only a share with the union too many initially refused to share their umbrella an umbrella some e.u. members remain reluctant to share that includes funder lions home country germany even as the pandemic storm intensifies across the block thursday 6 hour video conference with the e.u.'s $27.00 national leaders and did without agreement on just how unified the economic response should be especially when it comes to sharing debt across the eurozone and if we re

e.u. itself so far pretty much nothing i mean brussels has been talking about the central bank has been talking about a possible 410000000000 euro bailout plan but hundreds of people in italy are dying every day from this virus and this still amounts to just talks and to make matters worse some leaders are even restricting the export of medical supplies to italy because they think that they're going to need those supplies for their own responses to the pandemic so as long as at least left to fend for itself in this time of crisis by the by by the e.u. of which it's a bloc member you know it's hard to see how the situation is going to. go reaction live from rome the president of the italian conducive to think future nations spoke to me he says the nation's different reactions show there's little in the way of neighborly harmony right now. each directly between the nation inside the european union is not sure in these situations the emergency situation the question that we ask to hold the european union a government that would be the utility of the european union and well the hother nations in th

e.u. itself so far pretty much nothing i mean brussels has been talking about the central bank has been talking about a possible 410000000000 euro bailout plan but hundreds of people in italy are dying every day from this virus and this still amounts to just talks and to make matters worse leaders are even restricting the export of medical supplies to italy because they think that they're going to need those supplies for their own responses to the pandemic so as long as at least left to fend for itself in this time of crisis by the by by the e.u. of which it's a bloc member you know it's hard to see how the situation would probably go to. what they think about it put it on thanks for that now it's nice to see that russia can spare that bit extra to help if it's so needed but really against the wall isn't it you know all full stops come about from there. well mentioning the view from rome the president of the italian conservative think future nation spoke to me just last he says even nations different reactions shows little in the way of unity or solidarity here. each trip. between the nation in

e.u. we did just see that tax open in a very volatile trade spike a bit higher but i think investors are asking the question can any package from a central bank from the government really do that much to offset the impact of this enormous economic shock we're facing the e c b has estimated that growth in the e.u. could contract by 5 percent this year j.p. morgan has estimated that u.s. growth could fall 15 percent in the 2nd quarter so against that these packages can question the flow but it can only really offset a little bit of the of the damage that we're seeing and i think investors are really trying to settle in for a longer period of volatility one trader has called this sort of like the panic buying we're seeing in grocery stores where investors are just selling everything and trying to hoard up on cash. from food think it's a much. the c.e.o. of lufthansa has warned that the coronavirus is jeopardizing the future of aviation costs governments may need to save the entire industry from the fallout of the pandemic he added that europe's largest airline is a good financial shape for now international industry group is to made up to $20000

e.u. leaders and other senior officials including the likes of christine lagarde the head of the european central bank has been meeting via video link up such as the concern about the spread of the virus given that several lawmakers in france including the minister of culture has tested positive for the virus ordinarily it's down to individual e.u. states to come up with their own policy when it comes to health care but given concerns about the impact on the whole of the economy particularly in countries like italy they're already already teetering on the edge of recession the feeling is now is the time to try and connect the dots put aside regional differences and come up with some concerted action on how to move forward in the best possible way we know also that the european parliament has been meeting and debating the role of a future coronavirus task force a vote will take place on thursday to establish what exactly that body will do outside the european union the united kingdom as of january 31st no longer a member of the e.u. saying that it's come up with its own strategy to deal with the corona

e.u. is spending more than $155000000.00 on the search for a virus vaccine as well as treatment and testing the european central bank is buying 840 $1000000000.00 of government debt to stimulate the economy and euro zone rules on government debt have been suspended to allow a member states to spend what they need to survive the break. ok let's bring in our panel joining us today from perugia in italy julia the journalist and field producer working with foreign media from santander in spain fabrice pati a chief strategy officer at the political advisory firm rasmussen global and from berlin we have thorsten ben a director of the think tank global public policy institute welcome to you all julia can i come to you 1st paint us a picture what it's like where you are right now. well. it is quite the saw terri confinement at the moment at least still on lockdown. though the raise in contagion and have had diminished we actually still have a growing number of people suffering from corona virus and a growing number of deaths so as of yesterday we had 900 in one day a little less than the day before when we had a 1000 the wh

e.u. parliamentary session due to happen this week it's already been moved from strasburg to brussels party leaders are talking about that the european central bank has raised the alarm about the possible health of the european banking system in the face of the stock market falls and and the sort of cumulative economic impact of all of this on individual countries across europe approaching the sort of levels of the 2008 financial crisis and as you mentioned there the international monetary fund calling on countries to provide stimulus wherever needed those sorts of things they're talking about cash transfers to businesses tax relief wage subsidies calling on central bank banks to institute interest rate cuts such as they can and so it goes on the numbers continue to climb italy we know is the worst affected we've heard lots and lots about the extraordinary dramatic measures in place there with a quarter of the population under effective lock down france and germany in sort of joint 2nd place lots of crowd distancing measures in place there are no gatherings in france of over a 1000 people school closures affecting 300000 pupils spain is about to

e.u. parliament session due later this week that's already been moved from strasburg to brussels and the european central bank is going to be meeting later in the week following dramatic falls on stock markets across europe that begin to approach the sort of levels of falls that we saw during the financial crisis in 2008 they want to know that european banks are healthy there are widespread concerns about the impact the economic impact country to country but also across the event globally with some signs pointing to the possibility of a global recession italy of course that were the worst hit still you saw all of that in in saunas report there a quarter of the population on effective lockdown nobody gets in or out of the long body region in the north which includes with 14 other provinces which includes venice and the financial capital milan without exceptional sort of reasons health related or in some cases work related so a substantial amount of pain being felt there economically and among the population here in britain we await word from the government they've been in emergency meeting during the morning a

central-bank question. nejra: kallum pickering from berenberg staying with us for the hour. turning to the outbreak in europe, e.u. leaders struggle to agree on a concrete strategy to contain the fallout from the coronavirus as they push for more radical steps and a credit line from the bailout fund including proposals such as joint debt issuance. leaders are leaving key details to be hammered out by e.u. finance ministers. joining us, maria tadeo. good to see you. was anything at all agreed between e.u. leaders on the call? maria: no. it was disappointing. it was underwhelming. if you look at the picture in europe in which a recession is very much -- going forward, if you look at the number of people who are pretty much still dying on a daily basis, european leaders were simply not able to put anything to paper yesterday. what is emerging here is there is a huge division when it comes to corona -- this is the focus of the debate. there are countries in europe that file credit line that is down to a bailout fund, it will not be enough. they want new tools and they want it now. i am thinking of countries like spai

e.u. the blocks chief executive herself on the line is having to assess the situation in the region today. and as the global economy falters over fears surrounding the coronavirus $27.00 finance ministers and central banksare due to hold talks about how to reduce its impact on the world health organization says the world is an uncharted territory but it still can contain the baucus. bill don't forget it all is going to be in the news on the go download our app from google player from the app store and i gives you access to all the latest news from around the world as well truth as well as push notifications for breaking news and if you're part of the news you can use that app to send us photos and videos of what's happening whether. this is the interviews live from berlin we have more coming up at the top of the hour up next is our documentary series close up i'm brian thomas for the entire news team thanks so much for being . clothes that you're going to wear with a clear conscience. the fashion industry is going green a lot of companies write sustainable on their labels. but does this clothing really meet sustainability standards we go undercover to find out eco friendly fashion green sheen for the re

e.u. the last chief executive was left on the line it's heading to the region to assess the situation. as the world economy slumped so her fears surrounding the coronavirus of g 7 finance ministers and central banks are due to hold talks about measures to reduce its impact on the world health organization says the world is in uncharted territory but can still contain the virus. coming up next on deja vu news asia hong kong or stay indoors to avoid the new coronavirus we look at one can live life under self-imposed a lot. and in the philippines world war 2 veterans remember the battle of manila which ended just 75 years ago today. to respond and yes those stories and more coming right up on g.w. news asia state of. they're on a mission. to save the mob marvel comics started in $1039.00 and since then they've created a vast empire of superheroes who also have human weaknesses. the creators have had their share of clashes the moving story of a comic giant marvel in the stores march 10th. what secrets lie behind these walls and discover new adventures in 360 degree. and explore fascinating world heritage sites. t.w. world heritage 360 get passed now. to use crime fighters are back that africa's most

global stock markets have plunged again despite central banks around the world announcing a quarter needed effort to ease the effects of the virus and the e.u. is considering suspending all nonessential foreign travel to the walk for 30 days this is airlines across the globe make unprecedented cuts to flights costs and staffing as lockdowns take their toll on the industry. now cases of the coronavirus have been confirmed throughout more than half of africa at least 30 countries there are grappling with nearly 400 infections in kenya the president says encourage people to work from home but as catherine sawyer explains from nairobi many don't have medical insurance and have no choice but to risk their health but. most kenyans use public transport to get around that's why some bus service providers are taking no chances this is one of the busiest bass stations in nairobi city center you've got. you know little of that an hour they're not. enough for each and every one you look at on one place yeah. i've got. a long. ask you know our conduct of the nature of the because up until a day but it's all been in the above doesn't windows. on sunday t

e.u. single market. when do you use that lever and is it better to use other central bank tools?her that be more targeted liquidity measures or whether that be reducing countercyclical offers. there are other tools other than monetary policy. delicate brings up a question. let me go to karen ward. are we going to see a rate cut this morning? i don't want to put you in an uncomfortable position, but we have gotten use to emergency rate cuts. why not do it on a monday? karen: i think the emergency cut did not do what it was hoped to do, which is provide a clear support to markets. if it was coordinated, perhaps so, but it is hard to coordinate when we are at the limits of ammunition and every central bank has complicated decisions to make. the ecb this week, what will they do and maybe some very targeted liquidity measures, it is hard to put out an emergency statement. they are all doing lots of different things. i think the fed going alone will not necessarily help. i would like to see an emergency g7 finance ministers meeting and something coordinated come from that. that i think

e.u. ly looking at the very much scarred. anna: are we going to see a nice at thes, because the can just spend, spend, and central banks will buyending in 1996, the debt. good time to try out. >> i never believed in mmt as such. he issue is can and should governments resolve to direct financing from central banks. overblown think it's because at the moment governments or most governments markets, ebt in the and then it's up to the central banks as well. debt ant to buy that through programs of quantitative he'sing. i don't think that ends up different fromat direct monetary financing. f you look at the pure analytics, it's difficult to see much to make a fuss about. you look at the history, inflations, assive and you look at the politics of all this, and the thing about governmentscing and is it's a sort of taboo, and the goal -- there may be something at the bottom of it, but there's a lot of magic and mystery and nonsense. it comes to time it we can see central banks governments ncing without that much difficulty or trouble. say government automatically leads to inflation. well, i think the answer is doesn't know. it might do

e.u. court of justice, a court ruling on whether or not customers who were sold mortgages that were tied to the central bankat the court said, they were handled case-by-case. a pretty positive ruling. many were expecting it to be much harsher. wasa bank was -- kasha bank -- francine: annmarie hordern with main stock movers. we are getting breaking news south africa. south africa, the fourth quarter gdp saw an annualized 1.4% instead of the -0.2 percent we were expecting. that means the economy is slumping into a second recession in two years, having an immediate effect on the south african rand. the daily move currently at 15.5921. inger-term, the chart moving the south african rounds. moments ago, the south african economy slumping into a second recession in two years with the 1.4%nnualized 1.4 -- down for the fourth quarter. joe biden is consolidating support for his democratic presidential campaign. centrists are lining up behind him to try and block bernie sanders from winning the party nomination. here is what to expect from super tuesday. [cheers and applause] >> the self-proclaimed democratic-sociali