laurence boone in paris, welcome to hardtalk. thank you, thanks for the invitation. pleasure to have you on the show, your own president, president macron talks about a war. has country in the world being engaged in a war against coronavirus. do you see that actions are matching the words when it comes to trying to say that the world economy? there are actually three fronts on which we have two fight this battle. health, financial and social. with health, i think there could be more cooperation with the who because at the moment it is about data collection, provision of supplies, equipment, and testing. there seems to be a little black. 0n economic and finance, we are actually seeing a lot happening stopping many governments are putting in place measures to address the healthcare system, but also people to make sure they can support people to make sure they can support people during this virus as well and firms make sure that firms do not go under with the hardship that is going on at the moment. but there is this question of urgency, because you talk about individua

my guest is laurence boone, chief economist at the global economic forum, the oecd.l we get the dramatic, co—ordinated emergency intervention needed to stave off economic disaster? laurence boone in paris, welcome to hardtalk. thank you. thanks for the invitation. well, it's a pleasure to have you on the show. of course, you're in paris. your own president, president macron, talks about a war. has country in the world being engaged in a war against coronavirus. do you see that actions are matching the words when it comes to trying to say that the world economy? there are actually three fronts on which we have two fight this battle. one is health, and the other is economics, financial and social. with health, i think there could be more cooperation with the who, because at the moment, whether it's about data collection, provision of supplies, equipment and testing, there seems to be a little lack of co—ordination. 0n economic and finance, we are actually seeing a lot happening. many governments are putting in place measures to address their healthcare system, but also

laurence boone, the oecd chief economist from paris. ?hy such a dramatic statement why is the comparison with the financial crisis a good one? it is the size of the be --which may [indiscernible] -- which are having a big impact on the economy. , so what weertainty have done is have a base case based on geography and magnitude. that would remove global growth. then we also have the downside scenario equation, where the america,goes for north europe, and a wider range, and that is a much bigger blow to the economy. guy: a lot of people are now speculating that we are going to see a monetary policy reaction, that the fed, the ecb, the mek of japan are all going to cut -- the bank of japan are all going to cut. what effect is that going to have, given that monetary policy is incapable of helping us with the virus? dr. boone: this is a very good question. there was a shakeup at the end of last week. central banks showed that they are ready to act. they can provide the liquidity that the market stability will need. we do not need a financial c

laurence boone, i thank you very much forjoining me on hardtalk. hello, there.land that had the best of the day's bright weather, with some spells of sunshine coming through, for example in this weather watch picture from the aviemore area. it was not like that everywhere though. for england and wales, we've had a slow—moving weather front with us for a couple of days now, and that's been bringing some murky weather and outbreaks of light rain and drizzle. that front is this stripe of cloud you can see here. and it is this weather front that separates the mild but rather murky weather to the south, to the clearer, sunnier conditions, but colder conditions that we have across the north of the uk. now, over the next few hours, that weather front is still with us, bringing cloud and rain, murky as well across parts of the midlands, wales and southern counties of england, with some hill fog patches. but it is the cloud that stops it from getting too cold, so it's actually quite mild. temperatures for some at around eight celsius over the next few hours. whereas, fur

finance minister s tuesday weighing some sort of fiscal coordinated response, and the way that laurence boonef the oecd was discussing with the program within the last hour. that is potentially providing a little bit of a catalyst for the financial markets. the other headline is the one we are watching right now, ryanair to cancel up to 25% of italian flights on coronavirus. remember, these low-cost carriers have significant exposure to the italian markets at the moment. i am going to be speaking to michael o'leary tomorrow. we will have that interview here on bloomberg television with the take on what is happening with this market. right now, we are seeing the airline stocks in europe under a considerable amount of pressure. -- just ryanair, but i ag easyjet, lufthansa under considerable pressure. argue,l action, i would is at the front end of the curve, particularly in the united states. we are still six basis points lower when it comes to german ,en-year -- german two-year -83. let's get more of the impact of the coronavirus right now. we are joined for analysis by john hardy, saxo bank he