the european central bank has spent billions in recent years buying bonds from member countries yang was to prop up economic growth in the flagging euro area. but last week germany's constitutional court said some of the c b s actions were illegal under german law it ruled the bank should have thought more about the possible negative impact of its policy it's the 1st time the top german court has pitted itself against the u.s institutions in this way so does it mean a big clash at the heart of europe not according to the german government is. an example of the european court of justice is the guardian of the european treaties in our view the constitutional court has not questioned that it is merely called for a careful balance and justification of the policy. but the european central bank said it does not follow the rulings of national courts and commission president on the line is considering legal action against germany opposition politicians in berlin since this battle could last for some time. because in the short term we do not expect any fallout from the court's decision but in

does this for i am sadly this is above all a political failure of the european central banks hands at time by politicians it's not allowed to bankroll of financially support the member states but on the other hand there's no common financial policy this conflict will require a political solution. it's not helpful that other countries which were told to leave gracile such as poland have applauded the decision of the german court. chancellor merkel has so far only said she wants a clever response to the questions raised by the case that response could have a big impact on the future of the euro and her government has been given just 3 months to react. well they say necessity is the mother of all invention and that's something many businesses are learning during the krona virus crisis to germany small wine makers are having a tough time with the loss of tourism due to the pandemic their solution is to go online if there's germany's oldest wine growing region the most. family have been here for generations. from the us i'm from i find that just incredibly exciting that i can sell what i'v

interpreter a few people all the highest sorry interpreter of european law and we have to reaffirm the independence of to be in central bank because we as a european as a german bundesliga open a pandora's box every single of course parliament can do that and we don't have to talk about independence of the central bank anymore so these are the consequences you have to take from that. ok so france is the german government spokesperson said that this is not a clash at the heart of europe but we now have the e.u. commission to essentially threatening legal action against germany how can it not be. so far there is no european law that has been really broken but it might be to potentially and of course it's a role of the european commission to go and look into that only the european commission is responsible for the treaties for the e.u. treaties and making sure every vendor state is responding to that so i you know it is of course the role of the european commission to go and look at that as it into that into very much detail so we're looking to have results of the european commission and ever and in the meantime we have to ma

it does seem to be giving a bit of a win to the european central banks. european central bank two months to fix this 2.7 trillion euro asset purchase program. the markets are not too worried about it. initially they were, but the judges said that some parts of the quantitative easing program are not backed by the european union treaty. we are speaking with tony aarons, and what he was saying that this should be a fix -- maybe not an easy fix, but it certainly could have gotten worse. the ecb's controversial asset purchase program has been a concern for the german court since at least 2015 when the case was filed. we will have plenty more market movement. tom keene joins me out of new york. this is bloomberg. ♪ w?w?uhió'ñó francine: germany gives the ecb a three-month ultimatum to fix qe. the judges say parts of the program are not backed by e.u. treaties. europe continues its gradual easing as the number of people furloughed tops 40 million. global virus deaths pass 250,000. and bnp paribas shares rise on resilient earnings, despite a $1.2 billion hit from

house want the country's central bank may have to pull out of the key euro zone bond buying scheme the german constitutional court has upheld several complaints against the european central bank as project begun in 2015 to boost the euro zone's economy all says the e.c.b. must clarify that the asset buying program is not disproportion if it doesn't germany's bundesbank would be barred from participating in this deal. so what does that mean let's ask our financial correspondent conor boozman joins us from frankfurt comma will the european central bank now have to stop their huge amounts of months the acid. low get hot the asset purchases by the e.c.b. can continue at least for now that is of course the most important signal for the financial markets today and the reason why there has not been a shock reaction on the markets after the decision has come out what the german constitute constitutional court has said today though was that the bundesbank our reserve bank the national reserve bank here in germany which executes the e.c. peace asset purchases here in germany must act according to the german constitution and that this in the past has not enough been the cas

matt: that was the european central bank vice president talking to paul gordon ahead of the european rage in frankfurt. cb right now,at nie the ecb ticker on the bloomberg terminal. red headline here. christine lagarde says the economy is likely between the ecb's medium and severe scenarios. she says it is playing out nine the worst case scenario, but not on the best -- not on the worst case scenario, but not on the best case scenario, but middle-of-the-road. to answerntinues questions from the european youth on facebook. we will continue to track that for you. up next, the eu is set to unveil its recovery plan later today. the so-called frugal four are opposed to the franco german proposal. we will get the latest from brussels next. this is bloomberg. ♪ ♪ >> and making sure that possible -- as much as so that economic activity can continue unaffected by financing restrictions. we also have to make sure that is and wasy policy channeled and was transmitted whichhout the euro area, we indeed have a responsibility for. i would say the final thing that we did and then i will go to your q

by germany's top court has ruled that the european central bank must limited in its involvement in ane.u. stimulus program complainants argued that the purchases were unconstitutional as speak to dominic cain about this is alive in berlin dominic talk us about the significance of this ruling and what does it mean. while the case was brought by people who argue sanch the e.c.b. activity in buying government bonds over the past several years was something it really should not be doing and the they would mainly german complainants there are arguments was that the german constitution did not allow money from the bundesbank that's the german federal bank to be used for such activities now the ruling from the constitutional court backs that up to a certain extent and effectively says that what the e.c.v. house done is potentially beyond the constitution of germany point about the significance of this is that it represents something in this ruling as it were for everyone because the bundy. spanks the federal bank of germany now can examine this ruling and it effectively has to decide over th

germany's highest court is demanding the european central bank prove its bond buying scheme designed to bring stability to the euro zone is legal or otherwise is threaten to stop any further monetary cooperation the move as enraged the e.u. commission peter all of this taken a closer look at the spat. the coronavirus pandemic is putting pressures and strains on many relationships one of those that's feeling the pinch is not between brussels and when it comes to financial burden sharing in the eurozone germany's highest court said the european central bank's corona bond plan would need to prove it was fit for purpose if the single currency is largest economy was to take part the e.u. commission boss didn't like that one bit the recent ruling of the german constitutional court to put under the spotlight to ease use of the european union in the euro system and the european legal system the final word an e.u. law is always spoken in luxembourg nowhere else so with their well not quite that statement from a sort of on the line gave those that will be vying for the job of german chancellor

provokes the fury of brussels after its constitutional court questions the legality of the european central bank's monetary policy shoring up the euro zone and threaten to stop cooperation with it in the full story after the short break. on all of. the 8. ball. or and you cannot be bold with yeah you know what i am. well germany has started to ease its border restrictions with some of its neighbors including france and austria it's not being so friendly towards everyone in europe the country's highest court is demanding that the european central bank prove its bond buying scheme designed to bring stability to the euro zone is in fact legal otherwise threaten to stop any further money tree corporation and the movers in raise the you commission it to oliver takes a closer look at the spat. the coronavirus pandemic is putting pressures and strains on many relationships one of those that's feeling the pinch is not between brussels and when it comes to financial burden sharing in the eurozone germany's highest court said the european central bank's corona bond plan would need to prove it was fit for pu

provokes the fury of brussels after its constitutional court questions the legality of the european central bank monetary policy in shoring up the euro zone and threaten to stop cooperating with it to bring you the full story after the problems. in. join me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics or business i'm show business i'll see you then. welcome back while germany has started to ease its border restrictions with some neighbors including france and austria will be quite so friendly towards everyone in europe the country's highest court is demanding the european central bank prove its bond buying scheme designed to bring stability to the eurozone is legal otherwise it's threatening to stop any further military cooperation and that move has embraced the e.u. commission of a takes a closer look at the spat. the coronavirus pandemic is putting pressures and strains on many relationships one of those that's feeling the pinch is not between brussels and when it comes to financial burden sharing in the eurozone germany's highest court said th

called european central banks. would need to prove it was fit for purpose the single currency slot used to call them because to. commission boss didn't like. the recent ruling of the german constitutional court to put under the spotlight is of the european union the euro system and the european legal system the final word in e.u. law he's always spoken in luxembourg nowhere else with their well not quite a statement from a sort of on the line gave those that will be vying for the job of german chancellor next year when angle of merkel calls it a day and opportunity to show just how tough they are mistaken from the u. commission in particular that bar the european law all this takes precedence over national law especially in such a conditional form is simply not accurate chancellor merkel selfless and that kind of reasoning being a fiscal helping hand to corona should rely on existing other news like the european stability mechanism the despite the view it's a slap in the face by member states like. crippling auster

central banks you know the people who can create money. out of thin air in germany courts as i mentioned are pushing back against the central bank the european central bank by the way in the name of citizens they argue don't have enough of a say so let's start there shall we but our correspondent reporting from berlin here is our tease peter all over. the coronavirus pandemic is putting pressures and strains on many relationships one of those that's feeling the pinch is not between brussels and when it comes to financial sharing in the euro so. called european central bank screwed up on would need to prove it was fit for purpose the single currency is launches to call to be used to the commission. like . the recent ruling of the german constitutional court to put under the spotlight is of the european union the euro system and the european legal system the final word in the e.u. law he's always spoken in luxembourg nowhere else with their well not quite a statement from a sort of on the line gave those that will be vying for the job of german chancellor next year when angle of merkel calls of the day i don't get unity to show just how tough

provokes the fury of brussels after its constitutional court questioned the legality of the european central bank's monetary policy ensuring a eurozone and threatened to stop cooperation with. the 90 buffy bosses arrested across italy after a spike in criminal activity comes after convicted mobsters were temporarily released from prison on the plan to stop the corona virus spreading in jail. very good of you thanks for joining us here on r.t. international. and we'll start with a quick update on the latest global coronavirus figures the total number of infections around the world that us now risen to above 4300000 more than 293000 lives have been lost but more than 1600000 people have recovered. and with tight restrictions slowly being lifted all around the world people are starting to think about life after lockdown from walks in the park to perhaps the 1st vacation experts there were sounding the alarm because examples from asia show the threat of a 2nd wave of infection is indeed real for instance the chinese city of work over 90 was 1st detected was one of the 1st to lift restrictions due to th

provokes the fury of brussels after its constitutional cold questions the legality of the european central bank's money tree policy ensuring up the euro zone and threaten to stop cooperating with it for you the full story after the sprog. we go to work so you stay home from. school seemed wrong. wrong just don't. get to shape out these things become educated and engagement equals betrayal. when so many find themselves worlds apart we choose to look for common ground. welcome back now while germany has started to ease its border restrictions with some neighbors including france and austria isn't quite so friendly towards everyone else in europe the country's highest court is demanding the european central bank prove its bond buying scheme designed to bring stability to the euro zone is in fact legal otherwise it's threatened to stop any further monetary cooperation and the movers and raise the e.u. commission peter all of a closer look at the spat. the coronavirus pandemic is putting pressures and strains on many relationships one of those that's feeling the pinch is not between brussels and when

we have the european central bank's lending this week with a survey how banks are seeing how they areerforming, and what is interesting is you saw banks expect to ease lending conditions to companies over the next three months. normally when you have a recession, banks are desperate to tighten lending conditions to businesses. the credit easing policies we have seen launched by the central bank and government do seem to be having the desired effects. loans in march to business the across -- businesses across the euro area were up strongly. it is early days but it does look as if these policy mechanisms in terms of getting liquidity into the real economy have so far in the euro area been successful. they deserve some credit for that. matt: we will keep you with us. neville hill, chief european economist, credit suisse aboutties, talking to us the great pandemic. coming up, strategist expectations hit rock-bottom among the highly volatile earnings season. we will look at the opportunities next. this is bloomberg. ♪ welcome back to "bloomberg markets: european open." we are 36 minutes aw

this time around central banks have acted very swiftly, and in the case of the fed we have seen unlimited bond buying. the european committed to such, although there are other constraints to the ecb. i would argue central banks have as much as they can be expected to do. there are limits to what policy can achieve in an environment like this, and that is where governments come in. the u.s. stimulus has been substantial, probably more to come. on the european side it has been a mixture. germany has done a lot. the u.k. has done a lot. it has been smart trying to ensure businesses are able to get up and running again once conditions start to normalize. this, it isall of not going to be enough to offset the massive impact of this crisis. it can limit the damage. anna: we will talk more about the u.k. shortly. sarah hewin, managing director / chief economist americas & europe, standard chartered bank. thank you very much for being with us, and staying with us. coming up, we will talk about the u.k. slowdown, the economy shrugging by 5.8% in march. ♪ matt: welcome back to "bloomberg markets: european open." we are 10 m

is not clear the ecb should actually allow the german central bank to deal with this, but fundamentally, you are seeing two reactions. the europeantral bank is taking note of this, but the independence of the central bank is above any of this. to turn thisant into a nasty fight between the ecb and the german court, so what is unclear at this point is whether they will do anything at all or delay the action. almost saying this is something you have to do with, it is not our response ability. secondly, you are seeing strong language between the german ecj, the european aurt, saying that this is not place for the court to intervene, and it sent a resident -- it set a precedent that we are starting to question on rulings. and you are allowing members of the european union saying i don't like this, i'm going to take it to court and perhaps not even follow. i will have guidance coming from the court, being institutionally above them. guy: the problem with all of this is that ultimately german politicians answer to the german people. you have only got to look at the front pages of the german newspapers at the moment to appreciate the gr

the european central bank looks set for another testy debate on stimulus. has criticized of the p. that's what forces the central bank to buy government bonds in proportion to the size of the national economy. the ecb vice president has played down the importance of relaxing the rules. that we havere you --, but simultaneously, we have flex ability -- flexibility. as well in terms of the timing of the purchases. russia is determined to start easing oil output cuts from july. that is despite saudi arabia -- the market with additional production. sources tell us russia wants to stick to the original plan. global news 24 hours a day, on-air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. coming up, a return to risk. mega cap safety trades go out of fashion as investors look to size if the economy is passed to the bottom. we will discuss that next. this is bloomberg. ♪ ♪ nejra: this is "bloomberg daybreak: europe." i am nejra cehic in london with the manus cranny in dubai. risk on prevails even with

the ecb being the european central bank? european central bank.mber states questioning the legitimacy of european institutions, that's pretty much the beginning of the end. now, on the other point you made about the lack of solidarity between the north and south, and so the divisions between the alleged saints of the north and the alleged sinners of the south, this essentially can have profound consequences because so far, the european union has tried to come up with a comprehensive response to the coronavirus, and so the not exactly 27 different solutions, the approaches of each member state, are actually extremely similar, but europe will need to come up with a marshall plan for europe because the economic consequences of covid—19 will be very, very dire. we're going to see the impact, for instance, of the closure of the tourism industry in southern europe. this is going to be completely catastrophic. it's predicted a doubling of unemployment in europe until the end of the year. this is extremely concerning. and so if the european union does not

germany said its economy could shrink by more than 6 percent this year and the president of the european central bank warned the eurozone economy could fall 'd by 15 percent china's has declined by a record 6.8 percent and japan's is also projected to contract further it already face its fastest contraction rate in 5 years at the end of 2019. all right let's introduce our panel in london greg swenson partner at investment banking firm brig mcadam in maryland robert scott senior economist at the economic policy institute and in washington d.c. jeff hauser executive director at the revolving door project at the center for economic and policy research welcome to you all jeff let me start with you many of the restrictions have been put in place in the u.s. . now you have this 4.8 percent contraction that's happened and the restrictions were put in place before this is only really hinting at how bad things will get. absolutely the 2nd quarter the economy might be the worst in american history the intentional debt reduction in economic activity is unprecedented it's necessary if anything it's actually insu

withld like to start first ourselves, because the european central bank is accountable to the europeanent. we have a quarterly monetary dialogue. these dialogues are very well -- they have not reached the same depth of debate which we have seen now between the courts. therefore, i think we also should take steps, for instance, to give more space for experts to directly discuss with the ecb so that the quality of the countability tour the european parliament is increased rather than -- of the accountability toward the european parliament is increased rather than judgment. francine: coming, morgan stanley warns that an inflation breakout is on the horizon. we discussed the strategies called for in the british shift, and we look for openings in paris as they loosen restrictions on businesses in france coming into effect today, as the country embarks on a gradual process designed to avoid a second wave of infections. those are live shots from paris, and this is bloomberg. ♪ francine: economics, finance, politics. i'm francine lacqua and lender. the coronavirus bring an end to the 30 year r

central bank is expanding its paycheck protection facility . this after the initial round of funding was spent in under two weeks. european central bank looking to ease money market stress. it is introducing pandemic emergency longer-term refinancing operations. they are to ensure sufficient liquidity. china may have chosen not to contain the coronavirus. speculation from donald trump. he says he has seen evidence a lab in wuhan was the origin and it got out due to a lab mistake. the u.s. intelligence officials say they are investigating the exact cause. says that is unfounded. -- boris johnson and it is his pledge next week that he will set up details on how businesses can reopen. people will be encouraged to wear face masks he says the u.k. is passed the peak and is on a flow.rd global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm viviana hurtado. this is bloomberg. much.hank you so equities bounce. it is really simple, a mayday pullback and want to emphasize, in the confusion of global volumes and trading, it is a different frid

the fight over the european central bank is wrapping up.uropean commission threatens twice over the weekend to sue germany. the issue of ruling by the german constitutional court that challenged the ecb's monetary authority. the european commission says the final word will come from luxembourg, or the e.u.'s top court is headquartered. global news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in i amthan 120 countries, ritika gupta. this is bloomberg. tom? francine? tom: thank you so much. it is the 114 miles from indianapolis to louisville. interesting, most congressional district. we will speak with, rissman hollingsworth of the indiana district here in a bit on the challenges forward for his republican party. please stay with us. this is bloomberg. ♪ timeow, this is not the simply to end the lockdown. we are taking the first capital step to modify our measures. i know, you know it would be madness to throw away that achievement by allowing a second spike. u.k.ine: that was the pr

employees. $3 trillionhe wanted to do easing program, from the top court in germany to the european central bank. judges ruling some parts of the program are not asked by aropean union treaties u lawsuit claims the bank overstepped its bounds. and oil is on its longest winning streak in nine months. for the fifth day in a row, new york crude up. supplyns that the global glut might be over. global news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in i'm than 120 countries, that the on hurtado. this is bloomberg. francine? you so much.nk we have plenty more of course on your markets. we want to try to understand what comes next, where you see value, and what we should be staying away from. one of the smartest guys that puts out daily notes is john normand, a jp morgan. great to have you on the program. if you look at exactly what we are seeing, do you worry about the recovery phase more than the crisis phase? there are questions about inflation versus deflation, and there are questions about what central banks can do to support the econom

money markets and bonds showed immediate signs of relief after the european central bank is to restrictionslong-term loans to banks. it has also introduced bonds. president christine lagarde introduced the bond rally when she said the ecb is ready to increase efforts. uncertainties,gh growth scenarios produced by ecb staff address the euro area gdp could fall by between 5%-12% this year. depending crucially on the duration of the containment measures and the success of policies to mitigate the economic consequences for businesses and workers. nejra: that was ecb president christine lagarde. edward parks from brooks macdonald asset management is still with us. to carry on the conversation we were having earlier, i know you think that the policy accommodation we are seeing globally could turbocharge the economic recovery and risk assets rallying to reflect this but when i look at your credit views come you have upgraded the u.k. and international investment grade, does that include the eurozone raised on what the ecb is doing or might do? edward: mainly in the u k and in the u.s. we still hav

the european central bank has repeated its pledge to do whatever is needed to contain the economic falloutthe coronavirus. although germany's top court has cast doubt on the bank's ability to do just that. our global economics and policy editor, kathleen hays, is here with all the details. germany's constitutional court says the ecb must prove its bond purchases are legal, and then the ecb said it will keep buying bonds regardless. kathleen: well, there you go. i mean, why would the european central bank -- there was a meeting late today, and this is what came out of it. onically, the judges germany's constitutional court ruled that quantitative easing is not consistent with e.u. treaties and german authorities should have challenged this in the past. the ecb acknowledged what they said in a statement but they also responded saying, number one, the e.u. has already ruled that these purchases are illegal, and then they went on to say this, "the governing council remains fully committed to doing everything necessary within its mandate to ensure that inflation rises." that is their mandate. i

now for a brief look at some other stories making headlines around the world european central bank president christine lagarde has warned the eurozone economy is facing a dramatic contraction of between 5 and 12 percent this year she said the slump was on a scale never seen in peace time the e.c.b. has unveiled stimulus measures to protect the economy. amazon's profits fell 29 percent during the 1st 3 months of the year that's despite revenues rising by more than a quarter the company says it's being wiped out by costs associated with the corona virus outbreak including taking on new staff. russia's prime minister has tested positive for the coronavirus state media say the 54 year old will now solve isolation 1st deputy prime minister andrei billets or will be his temporary stand in. in libya's civil war rebel leader has announced a ceasefire for the muslim holy month of ramadan the statement follows international calls for a truce of the country's internationally recognized government says its forces will keep fighting citing a lack of trust and have to upholding the proposal. to the u.s. n

germany's highest court has largely upheld several complaints against the european central bank purchase of government bonds as part of a program designed to boost the eurozone economy since 2015 the court ruled that the e.c.b. best clarify that the scheme is proportionate or else germany's bundesbank made no longer practice of pay the. federal prosecutors have issued an arrest warrant in connection with the cyber attack on the german parliament in 2015 lin has accused russia's g.r.u. intelligence service of hacking the bonus talks computer systems and the suspect is also wanted by u.s. authorities for interference in the 2016 presidential election turkey has begun easing coronavirus lockdown measures president out of one said interesting the travel restrictions in 7 provinces will be lifted but not in istanbul and ankara seniors and those under 20 years of age will be allowed outside for 4 hours one day a week. but as well as already say they've arrested 2 u.s. citizens among a group of alleged mercenaries involved in what caracas says was a failed invasion the government claimed a grou

really isn't going to have the petitions for other central banks like the united states or japan because this deals with a treaty that put the europeannion together rather than anything fundamentally inside the central bank itself. totally fair. steve, do you agree? did you make anything of it this morning, the ruling? we did see btp's push higher. steve: i agree with mike that the practicality is low. i do think it underscores the challenge for europe and international markets in general. you have population decline in these economies. more densely populated populations. then you have political structures, particularly in europe, that are just not efficient. because of that, when you're dealing with a crisis like this, the response is less robust. this is the second time now and the last decade that the response is less robust, less coordinated, and it causes europe to fall behind the united states. i can't believe i am going to say this, given the recent history of our government, but our system is just better. it is more efficient, and it allows for much more robust responses, and therefore better recovery. it is one of the reason

germany's highest court has ruled that the european central bank's stimulus program partially contravenes german law because neither the german government nor parliament signed off on the spending the ruling cast doubt on key stimulus measures introduced to kick start the eurozone economy in 2015. 1 german auto executives have held talks with chancellor merkel in a bid to secure potential government aid for the country's struggling car industry carmakers want the government to offer cash incentives to car buyers to help demand recover from the coronavirus slump but not everyone is keen on the idea. no tax money for gas guzzlers that's the message environmental activists unfurled outside angle america's office window ahead of her crunch meeting with car industry bosses the german chancellor has a lot on her plate at the moment but the future of the car industry may be the toughest challenge. these are dark days for carmakers folks bargain may have projected an image of its logo eating the coronavirus but the truth is this pandemic has sent its sector into its deepest slump since 1991 peter

the international edition of the financial times focuses on a warning from the european central bankblic debt is poised to heap pressure on the eurozone. and the times' main picture story is of astronauts doug hurley and bob behnken on their way to the cape canaveral launch pad, of course before the bad wether got in the way. welcome to you both. let's start with the metro, several papers picking up on the liaison committee appearance by the prime minister today. anna, what did you think of the prime minister's performance? first of all, he appears in front of the liaison committee which is just a corrupt clarify is the most senior mp in every single type of committee. not all of them were included today but they tend to have the punchy is questions for the fai minister and that was the same today with dominic cummings. i thought the most important bit of it was meg hillier is question where she just asked very to the point had ec seed in any evidence that dominic cummings story was true and he hadn't broken the bull rules that we re hadn't broken the bull rules that were alleged to

other stories making headlines around the world germany's highest court has ruled that the european central bank stimulus program partly contravenes german constitutional law because neither the german government nor parliament signs off on the spending the ruling costs out on key stimulus measures introduced to kick start the years in his own economy in 2050. years president donald trump has denied any involvement by his government in what venezuelan officials have called a failed incursion in the south american country and israel and also it is arrest of 2 u.s. citizens among a group of mercenaries they came to group wanted to overthrow president nicolas maduro. a leading philippine t.v. station that has reported critically on president tessa has been forced off air the network's license expires after hearings under a new application which in late and a temporary license was to night government officials deny the closure was a press freedom issue. around the world people have been finding ways to pay tribute to the doctors and nurses working on the front lines to save lives during this pandemi

matt: the european central bank is defiant in the face of a european central court ruling criticizingts bond buying program, saying that it is overreach. the ecb is pledging to continue doing everything necessary to revive inflation. in a statement, the bank also noted europe's top court previously said its quantitative easing program is legal. in the u.k., the death toll has topped italy in terms of people dying from the coronavirus, great britain the worst-case country in europe. the grim milestone adds pressure on the government, which is facing criticism for his handling of the pandemic. it comes as a nation's start easing lockdowns. and the british chamber of says businesses could reopen in days with small businesses being the first to get back on their feet. disney has taken a $1.4 billion hit from coronavirus, and the worst could be yet to come. earnings plunged more than half in the quarter. rose driven by the assets from fox entertainment last year. the giant's parks and other businesses are being pummeled particularly hard, but one bright spot is disney seeing a recovery in

german parliament and government to fail to scrutinise the way german money is used by the european central bank and set a deadline for ministers to provide evidence that what has been done so far is proportionate and constitutional if not the german central bank would have to withdraw from the european public spending payment program and while that possibility is a few months away right now the coronavirus has plunged germany into recession the economy is projected to shrink by almost 10 percent in this quarter but ministers have just learned of a near 100000000000 euro shortfall in tax revenue in. one area that has traditionally been seen as crucial to the german economy is the automotive industry around 800000 jobs depend on it and yet now that same sector is stalling many firms have placed staff on short working and some forecasters predict as many as 40. scent of jobs maybe cut on god he. is specially here in germany a lot of people think that we have reached the lowest point already that the worst is over but unfortunately the general perception does not correspond with reality the outlook

a look at sweden economically now data released from sweden central bank showed that their economy will be just as badly hit as their european neighbors if not worse and sweden central bank give 2 possible scenarios for their economic outlook for 2020 now in this 1st scenario g.d.p. contracted by 6.9 percent in 2020 now meanwhile unemployment could reach 8.8 percent now in a more negative prediction g.d.p. could contract by 9.7 percent with unemployment over 10 percent and now both rebound but not on toll 2021 and lockdowns in germany spain italy france and the u.k. have also hit their economies severely you know in fact the international monetary fund predicts that germany in the u.k. will see their economy strength by 6 and a half and 7 percent france 7.2 spain 8 percent italy will see their economy shrink by 91 point one percent and. sweden is neighbor finland and denmark which also impose lockdowns their economies will shrink by 6 percent and finland add 6 and a half percent so back to your question brad it does not appear that sweden is actually doing any better r.t. correspondents haven't are thank you for keeping us u

the problem comes if the under spanked the people in charge of the bonus bank see what the european central bank has been doing as not being acceptable as being unconstitutional well then that becomes a much greater problem for the e.u. for the eurozone. can you shelters nearly half a 1000000 refugees from neighboring somalia and south sudan 11 crowd of camps at risk of a corona virus outbreak with little or no access to health care malcolm web reports now from nairobi. anima da fled fighting in her hometown in south sudan and she was 2 years old. her parents brought her here to carcamo refugee camp in northern kenya it's been a home ever since. over 2 decades it's become a city of shacks home to nearly 200000 people trips to the water pump the market are essential to the way people get food to eat she's worried about the spread of the coronavirus in a company. where we fetch water we have to queue and social distancing is practically impossible that scares me. and is among nearly hoffa 1000000 refugees in kenya many escaped the conflicts in neighboring somalia and. most live in camps like. so f