we need new and strong responses, and i really think that chancellor merkel and president macron havele, both together, to provide the necessary response to the crisis. this is a major step, and i would say a historical step that has been decided yesterday by president macron and chancellor merkel. for the first time in our history, we are ready to provide 500 billion of expenditures, public expenditures, to fight the economic consequences of the virus and to face the economic crisis. this is a historical step for france and germany and, i hope, for all european countries. but let us be clear, minister — you say mr macron and mrs merkel have decided, but frankly nothing at all has been decided. this is simply a proposal, and it is a proposal that is so historic — to use your word — that it seems very likely significant numbers of other member states of the eu will not accept this idea of debt sharing which, in essence, is what this is. i know what that it will be difficult to convince the other partners — some of the partners, for instance, austria, denmark, sweden, the netherlands —

but let us be clear, minister — you say mr macron and mrs merkel have decided, but frankly nothing atll has been decided. this is simply a proposal, and it is a proposal that is so historic — to use your word — that it seems very likely significant numbers of other member states of the eu will not accept this idea of debt sharing which, in essence, is what this is. i know what that it will be difficult to convince the other partners — some of the partners, for instance, austria, denmark, sweden, the netherlands — to go this way. but when you look at the steps that have been already decided, i think that we are on the right way. we have been able, with the 27 member states on 9 april, to adopt a global package for the economic recovery within the eu with a new loan from the eab, with the so—called mechanism sure, with their use of the esm, and with this recovery fund. now france and germany have been able to find an agreement on the funding of this recovery fund with the common debt... but minister... i just want to explain to the other member states... there is no agreement — let us b

angela merkel and emmanuel macron agreeing on a 500 billion euro package.y fromterview jean natixis. we will get his thoughts on consolidation within the investment management space. this is bloomberg. ♪ there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us. matt: 30 minutes away from the start of cash equity trading. futures higher on optimism around a lot of things, including the vaccine development, but also an agreement yesterday among europe's most powerful leaders. they backed a breakthrough to help the eu recover from the pandemic. angela merkel and emmanuel macron agreed to a fund that would make gr

there were other ones like oderna and macron/merkel. think the fed is putting itself into a corner because there is so much dependency on the fed to the market that now, it will have to deliver and they will have to deliver on qe, which is expected to be massive going forwards, and negative interest rates, although the market, if you look at it, starting to price slightly positive interest rates going forward. held by theing market. correction.e a we have seen that. that is where we are. >> late to speak to you. you know what, what you are actually saying in terms of the fed kind of being backed into a corner echoes what we heard from howard marks yesterday when he said that ted support is not forever, that distress coming artificiallyes are supported so it is not necessarily a simple story of shadowing the fed, but that said, are there areas of the market that you want to move into more aggressively based on the stimulus from the fed? part, a fewrst comments. we have learned that it is very difficult to find the fed and very difficult

vonnie: and in fact, we are seeing chancellor merkel and president macron speak. ande is chancellor merkel the like. can see that at live should you wish to. what is your base case forecast for gdp this year? i assume it will be contraction and not growth. erik: we think the euro zone is going to contract about 13% this year. i saw the consensus come out the other day, we are the most bearish in the market. with think your will have a good bounceback, but so far the numbers suggest that we are not too pessimistic compared to what this year will be. the downturn is dramatic, so those who have forecasts like the imf and the oecd in the -16 -10%, if they look at the --bers asked the -6% to -10% -10%,e oecd in the -6% to if they look at the numbers, i don't see how they get to that. so we are at the very bottom of the range of the consensus forecasters. as we see macron and merkel , we are also getting the bank of england speaking as well, saying the longer the lockdown, the longer the stimulus is going to be required. while we wait for headlines, let's talk about

merkel and macron propose a 500 billion rescue fund. germany offering its excellent credit rating to borrow money for the fund. more criticism from the trump administration aimed at the world health organization. white house officialsls said it allowed the coronavirus outbreak to be a global killer. 100 countries are backing an investigation how the w.h.o. handled the pandemic. and homeless people in the u.s. and virus. activists say the resources are there to help get them off the streets and reduce the risks. so why isn't more being done? and french cinema loses a legend, star of the stage and silver screen has passed away at the age of 94. i'm brent goff to our viewers on pbs. half a trillion euros to help weather the worst crisis in decades. angela merkel and president macron have a joint plan to speed the funds. and in a first, chancellor merkel ended her resistance to the european union raising joint debt to fund relief efforts. >> it's wishful to think that europe's economy. even before the e.u. commission presented its aid packa

emmanuel macron unveils a .8 billion dollar plan to revive the french autondustry.nd, four minneapolis police officers are fired over the videoof a black man after murders of a white police man kneeling on his neck. ♪ >> concern is growing at the potential scale of the coronavirus outbreak in latin america. the continent is nearing 150,000 deaths. the world health organization says the spread is exhilarating in brazil and chile. brazil is a particular concern as it has the second-highest number of infections in the world. a u.s. study is warming -- is winning its number of deaths could multiply fivefold by august. from the sandy beaches andio de janeiro, willie his friend are trying to locate covid patients. just recovered from covid-19 themselves and are now working on their day off to help those in need. >> hospitals are full. serious.s were not this way, we can help and guide people where to go. we are visiting people. small houses with not a lot of airflow. we can give an overall guidance on care and cleaning. >> is the amount of cases of covid-19 continues to r

i think that's would present macron and chancellor merkel announced. the answer to this crises was , putting iny-state place to effectively an emergency line to the various companies. and what they did yesterday with stronger statements. do question about the markets, i the markets have reacted extremely optimistically to the various announcements, the name the assets was about rallied whatever the fed was able to buy, you look at the program in the u.s.. now it's only about providing the additional program effectivelyy, but to have the economy back in place. you've any position in it has around 26 billion in assets and you focus on forming groups. about the mostry going forward given the type of recession? wouldn't talk about the opportunities. there is tremendous action providing opportunities. objective to make sure theyidmarket companies, got the capital market wide open. steps,the appropriate talking about the real economy, with the across europe market being well-capitalized. we know european companies have been historically undercapitalized. ten

in paris, president macron laid a wreath at the tomb of the unknown soldier.nd german chancellor, angela merkel, laid a wreath at the new guardhouse memorial in berlin. as events take place at home and online to pay tribute, some communities are still managing to hold socially—distanced celebrations. this is the scene at inverness war memorial, where ve day commemorations continue. in other news, there's to be limited easing of lockdown restrictions in wales with people able to exercise more than once a day and garden centres re—opening. let's take you straight to inverness war memorial where ve day commemorations continue. let us hear a little of this life. bagpipes play. just one of the many celebrations and commemorations up and down the country. a two—minute silence has been held across the united kingdom to commemorate the 75th anniversary of ve day. events are taking place all day, but public gatherings have been cancelled as the country remains in lockdown because of coronavirus. victory in europe day marks the day in 1945 when britain and its allies ac

this is the scene live in paris where president macron will lead a minute's silence.s events take place at home and online to pay tribute, uk ministers urge the public to maintain the coronavirus lockdown. fundraising hero, captain tom joins the veterans remembering the part they played in a key moment in our history. it was going well here, but they were still out there, risking their lives and battling on, as they always did. welcome to viewers in the uk and around the world as the 75th anniversary of ve day is marked. iam i am annita mcveigh. queen elizabeth, the prince of wales and the uk prime minister will mark the moment when nazi germany surrendered to allied forces and the second world war in europe was declared over. in berlin, chancellor merkel will lay a wreath at germany's central war memorial. in paris, they're holding a minute's silence, then president macron will lead a small ceremony at the arc de triomphe. commemorations in the uk have been adapted to reflect social distancing measures — but people are still being encouraged to celebrate safely at ho

i mean, is this a sign that the chancellor is warming up to president macron's grand vision of europe? >> this is a big deal for germany and has been a political taboo that idea of issuing joint

also coming up, emmanuel macron berates -- for insisting the u.s. has -- very vexing.he drugmaker's chief executive is scheduled for next week. good morning, everyone. this is "bloomberg surveillance." good afternoon, good evening depending on where you are watching the world. gdp is a good sign of things to come. it is a little bit backward looking, which is why we tend to look at other indicators. certainly when you look at euro-dollar, it is probably moving on the back of it. german economy shrinking some 2.2% in the first quarter. now to your bigger asset classes. european stocks are actually jumping. u.s. equity futures pretty much unchanged. the one thing that we need to watch out for is basically the second wave of infections, but also the simmering tension between america and china. oil climbed, treasuries edging higher let's get to the bloomberg first word news in new there is in the u.s., no guidance from the centers for disease control and prevention on how to reopen bars, restaurants, and workplaces. it includes social distancing, limiting group sizes, and

macron to the rescue.t is set to announce support for the country's auto industry today. we are live in paris, next. this is bloomberg. ♪ to bloomberg back markets, this is the european open. 23 minutes into the trading day and we are looking at big green arrows. the ftse up zero point 25%. the european indexes were up take yesterday with the german index up 300 points. some of the movers we will show you a focus on germany. deutsche's lufthansa gaining more than 6%. the whole airline industry is doing well today for a number of reasons. for moved on set it is the 9 billion euro bailout from the german government. lufthansa, it is the 9 billion euro bailout from the german government. there will be travel warnings they say but they are going to then, iagictions and also gaining for the same reason. spain is apparently going to be reopening from july 1. i don't think you could make a that on that. you could make a bet but there are no guarantees on spain because of the political situation there that the ope

really y was about presesenting a united for merkel and macron as france and germany have had some trouble seeing eye to eye recently over how to finance economic rescue. up to this p point you have managed to put together a spspending package around five. forty billion euros largely in the form of loans to member states that's expected to come into full effectt on june first. european central bank has also launched a seven hundred fifty billion euro plalan to prop up debt markets by promising to buy your- and- in. in once an ex state repayay that money. and that's all in addition to around one point seventyty. rescue packages announced by jewel european governmnments piper fifty. euros fromom germ three on forty five here in france. it's a huge amount of money but for many people it is stilll not enough meps in brussels on friday called for a two trillion euro stimuluss and- commission president ursula von der leyen has said she w wants t least one and a half trillion at her disposal. clear estimates however put franco german plan people expecting it to be three hundred twenty billion to

thank you very much for being with us emmanuel macron says he wants to include workers from the arts and culture sector and the government's income support scheme screen actors captained another jump shot on it- masi. among the sick the trees of the column in the newspaper le monde calling on the president to act to prevent job losses and definitive closure is s due to the covered ninety lockdown over a million people are directly employed.d. in the sector across france millions more visit the country for the cultural experience these workers help create and sustain. showing support for the arts and culture indndustry. during a video conference with french artists. president emmanuel macron said the country would allow certain c cultural places to re open from may eleventh such as independent bookshops small museums and galleries. and that the government would start looking at ways to re open theaters with reduced audiences in coming months. could you place is a creative expression must be revived. artist must create again and be together. and they must be able to engage with an audi

we have french president macron presenting a plan to support the automobile industry.ome pressures running high. temperatures are running high on these supports, particularly in the airline industry. for example, ryanair saying it will appeal germany's plan to bailout lufthansa, saying the bailout will distort the market. ceo michael o'leary says, "whenever there is a crisis, lufthansa's first reaction is to put its hand in the government's pockets." joining us now is michael o'leary, ryanair ceo. i just read out a statement to the effect that you say left anza always puts its hand in the -- you say lufthansa always puts its hand in the government's pockets, and he will appeal this bailout. will review -- where will you appeal to? untill: we have to wait the german government approves this. they will also be speaking to the swiss government, the austrian government, and the , all of whichment are giving up state aid like a drunken uncle. ryanair, we all compete with of tons of in -- with lufthansa in the german market. they are receiving enormous payroll from the germa

some news between emmanuel macron and angela merkel. the u.k.lans for a 30 billion pound tariff cut after brexit. we will have a full roundup of market news and have great conversations coming up including the chief executive valve -- the chief executive of bank of america. tom spent a lot of time looking at gold. emerging market shares are rallying. your organic attached, 0.4% higher. this is bloomberg. ♪ there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us. ♪ alix: the day after the rally, equities take a pause after monday's monster move. european leaders stunned the market with a breakthrou

so whether that is sure optimism from merkel and macron was probably warranted at the time, more detailsrge that show this is going to be a long road. it is not going to stop here, and there are bound to be more discussions. for: mike, round this out us. what if's are we looking at today? michael: it was reported in a turkish newspaper the bank of england and bank of japan might establish swap lines with turkey. we know the turks have had a lot of trouble recently with the economy, and the turkish lira has struggled. the lira is moving quite a bit this morning on that report, but no news from the bank of england or bank of japan, and no word on why either bank would do that. i am kind of curious, modernity yesterday, big news -- curious, moderna yesterday, big news that they vaccine might work. then they announced they would sell $1.3 billion in additional shares in the company. you have to wonder what the ftc and others are going to thing of that. is that the smartest thing to do when everybody is locked down and you're trying to get government support to help you with your vaccine deve

m macron is trying to shore up the auto industry stung by the coronavirus crisis. eight weeks of lockdown have messily reduce the number of car sales and left tens of thousands of jobs at risk. jean-pierre, a specialist on the french car industry. thank you for your time. just how badly has the car industry been impacted by this pandemic? worse t than the 2008 8 isis. t thes than three months, european car industry, and 2.5 million vehicles will never be recovered. months the three retail sales were 76% everywhere in europe. the automotive industry up to 7% of the european gdp. employed ineople the automobile industry. the industry is facing major challenge because they have lost clientnts. they have lost produduction. renewing contact with the offer to suit an the needs of consumers, which have less money to buy a car. the industry is facing a paradox. arene side more people about to take the car to go to work, to commute. clearso, they have no vision of the evolution of the technology and of the market in europe. --ryone is talking about president micicro will ma

i have been asking guess about formerkel-macron proposal the last couple of days.the frugal four. it is a phrase that i think people love to use. but also, there are some countries in the european union that are famously frugal. >> yes. look, this is something that we were expecting. there are two things that are, to say the least, interesting. the prime minister of the netherlands has been very quiet. he used ar is that lot of his political capital to be tough on esm, which looks like a drop in the ocean. he has decided to stay quieter until he sees the numbers. the austrian and swedish government don't want to flat out say no. they want to see the numbers before they say anything before they commit to it. what i often hear is the fact that angela merkel is now working closely with paris to really change the balance of power here. she removed a little bit of that momentum. the biggest economy in europe is now seen piling on debt on countries that are already fiscally week. she needs a single market that is strong to be able to sell exports. matt: it's a very good

coming up, french president emmanuel macron is not happy with pharma giant sanofi.ell you why he wants to meet with the ceo, next. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn this is "bloomberg markets."it is time to get a deep dive into the markets. we are seeing a little bit of improvement. here with more is kailey leinz. kailey: i want to focus on one stuck in particular, and that is norwegian cruise lines. it was lower by as much as 9% after its first quarter results, but has recovered a huge chunk of those losses. the coronavirus has caused major disruption to norwegian's business. demand for cruises is really plummeting. the stock has lost about 80% of value your to date. as far as what the actual numbers were, when it comes to the top line revenue, it was down 11% year on year. the company reported a much greater than expected loss on the bottom line. i also expect net loss for the second quarter and the full year. plus, they are still burning about on hundred $20 million to $160 million per month. the good news is the company does have

president macron saw it as deserving of france's highest order of merit, legion d'honneur.ly for ve day, for courage, for sacrifice and for marjorie. all: we support marjorie. she's never given up. she's just really generous and compassionate in the nhs and what they're doing at the moment. cheering. social distancing has brought communities closer — the restrictions on liberty an emphatic reminder of what freedom means. cheers. cheers to the generation that channelled the wickedness of war to imagine goodness in peace, to build up our beloved national health service. it comes out of the wartime spirit of sacrifice and actually putting other people first. so, in a way, when we clap on thursday, we also clap the vision of that generation? yes, absolutely right. village shopkeepers told me how the qualities of the wartime generation still shine through. it wasn't that generation that was doing the panic buying. for example, we sell two chickens for £7, that's the offer — they would buy one and say, "i must leave one for someone else." it's resilience, it's mental fortitude th

president macron saw it as deserving of france's highest order of merit, the legion d'honneur.d come. let the flags fly for ve day — for courage, for sacrifice and for marjorie. all: we support marjorie! she's never given up. she's just really generous and compassionate in the nhs and what they're doing at the moment. cork pops. cheering. social distancing has brought communities closer — the restrictions on liberty an emphatic reminder of what freedom means. cheers! cheers to the generation that channelled the wickedness of war to imagine goodness in peace, to build our beloved national health service. it comes out of the wartime spirit of sacrifice and actually putting other people first. so in a way, when we clap on thursday, we're also clapping the vision of that generation? yes, absolutely right. village shopkeepers told me how the qualities of the wartime generation still shine through. it wasn't that generation that was doing the panic—buying. for example, we sell two chickens for £7 — that's the offer — and they would buy one and say, "i must leave one for someone else"

macron and other e.u. leaders have given their strong backing to the w.h.o. which has come under harsh criticism frorom th trumump administstration as it s to cut off u.s. funding to the organization. calling it, quote, very china-centric. any rapid medical solutions for covid-19 face significant technical hurdles. even the most optimistic estimates for a new vaccine put it at 12 to 18 months away. but with some 0 candidates currently in -- 90 candidates currently in development, hopes are e high that even that timele can be further accelerated. equitable distribution will be key. with affordability in developing nations a particular concern.n. annette: after an interview with fox news, u.s. president donald trump says as many as 100,000 americans could ultimately die from covid-19. he also said he believes that a vaccine for the virus would be developed d by thehe end of thi yearar, a much more optimistic time frame than we're heaearing from infectiouous diseases specialists. douglas herbert, ouour international affairs commentator, has more.e. >> he's jujus

this morning, president macron laid a wreath at the statue of charles de gaulle here in paris. the colours of the french flag from their windows and balconies. a moment of shared european history remembered today in isolation. lucy williamson ending that report. we will have more about ve day later in the programme. at the start of the bank holiday weekend, the westminster and devolved governments have played down suggestions that there could be a significant loosening of the lockdown restrictions. it follows accusations that there have been mixed messages about easing the measures. in the last hour, the welsh government unveiled minor changes, following a review that otherwise left the lockdown in place. the prime minister borisjohnson, will address the country on sunday. our political correspondent helen catt has the latest. on another bank holiday, these streets would be full of people out enjoying some may sunshine. not today. lockdown restrictions have been extended again in all four nations of the uk. but political leaders are now looking very cautiously to what comes nex

under france's war memorial, president macron stood isolated and apart, the usual crowd of dignitariesced by a handful of officials carefully spaced for protection. a poignant way to mark a time when france never stood alone. today the nation requires new kinds of protection, a bottle of hand gel by the book of condolence, the president's own pen. the national story of world war ii is one of solidarity against an enemy at home. 75 years on, it's being remembered by a country in isolation. the celebrations in france that day were a way of forgetting the shame of occupation that had gone before. the new national story of solidarity and resistance broadcast to the nation by general charles de gaulle as he announced the german surrender. translation: the homeland turns its thoughts and love first to those who died for it, to those who have fought and suffered so much. no effort from its soldiers, sailors, airmen, no act of courage or selflessness of its sons and daughters, no suffering of its men and women prisoners, no mourning, no sacrifice, no tear will have been lost. in germany today,

emanuel macron placed a wreath at the tomb of the unknown soldier in paris.to the public, people have been encouraged to decorate their balconies in the national colours. 0ur correspondent phil mackie is in kenilworth, in warwickhire, with local residents who are going to be holding a street party this afternoon. which is quite a challenge under current conditions. absolutely, it is really difficult. absolutely, it is really difficult. a lot of the events which would have taken place a lot of the events which would have ta ken place have a lot of the events which would have taken place have been cancelled but people have perhaps fewer alternatives, you can't go swimming, do lots of other things, so, more people might come out on to their front lawn which is what we are expecting here this afternoon at three p m. a few minutes ago, we observed the two minutes' silence, a poignant moment, people coming out of their houses, heads bowed, then, a round of applause. a little bit like that later on as people come out to toast ve day at 3pm. the bunting is out here p

speaking after talks with president emmanuel macron, chancellor angela merkel said the bloc should actrengthened". the fund would offer grants to the countries and regions hardest hit. the uk government has changed its guidelines for symptoms of the coronavirus. a loss of taste or smell is now classed as a main symptom in addition to a high temperature and a new, continuous cough. some doctors say that these symptoms should have been added weeks ago and hundreds of thousands of cases may have been missed as a result. our medical correspondent fergus walsh reports. we would spray some pepper spray into this hood, and if we could smell it, then the mask will have ——wasn't fitted properly. this person realised he had lost his sense of smell when he was being fitted with personal protective equipment. he kept on working and it was only days later when he had developed a fever that he was swabbed and found to have coronavirus. i couldn't smell it, after 20 or 25 sprays. clearly if you're walking around unaware that you are covid positive, then you are a potential source of spread of the vir

in paris, president macron laid a wreath at the tomb of the unknown soldier. and german chancellor, angela merkel, laid a wreath at the new guardhouse memorial in berlin. as events take place at home and online to pay tribute, some communities are still managing to hold socially distanced celebrations. in other news, there's to be limited easing of lockdown restrictions in wales with people able to exercise more than once a day and garden centres re—opening. we will stay with the ve day sxhemrations. there is —— commemorations. one of the things happening tonight, we are being encouraged to sing along to we'll meet again, made famous by dame vera lynn. she is the remarkable age of 103. i'm pleased to say we can speak to her daughter, virginia lewis who, joins me from the family home in east sussex. hello to you. hi, guys. we are delighted to have you with us, what are you and your mother doing today, how will you and how are you marking the day? it's all been frantic, with lots of interviews and we had a wonderful fly past by a spit fire at 10 past one, who di

in paris, president macron laid a wreath at the tomb of the unknown soldier.nd german chancellor, angela merkel, laid a wreath at the new guardhouse memorial in berlin. the red arrows flew over central london, and there were fly—pasts in edinburgh, cardiff and belfast. as events take place at home and online to pay tribute, some communities are still managing to hold socially distanced celebrations. in other news, there's to be limited easing of lockdown restrictions in wales with people able to exercise more than once a day and garden centres re—opening. at five, we'll bring today's coronavirus briefing from downing street, led by the environment secretary, george eustice. a two—minute silence has been held across the united kingdom to commemorate the 75th anniversary of ve day. events are taking place all day, but public gatherings have been cancelled as the country remains in lockdown because of coronavirus. victory in europe day marks the day in 1945 when britain and its allies accepted the unconditional surrender of nazi germany, bringing the war in europ

phone conversation between president macron and borisjohnson yesterday evening.nson announced that there would be this quarantine requirement for people arriving in britain from outside, president macron, it seems, pointed out to the uk, to borisjohnson, that france had generously, in its view, included the uk in its definition of what constituted european travel, schengen area travel, and under those french rules, people coming from the schengen area, and britain, don't require to quarantine or self—isolate when they arrive in france, and the french felt that this was a little bit unfair, if the british were including france in their proscriptions. it looks like macron said that he would reciprocate if britain went ahead with this, and as a result that stand—off, there was this deal under which neither country will require quarantine for the other. thank you very much, hugh. the headlines on bbc news... borisjohnson will make a statement to mps this afternoon about his plans for easing restrictions in england, after criticism that his statement last night had ca

same kind of argument that emmanuel macron sent out a couple weeks ago.ll be more geopolitical issues. very interesting, where will the u.s. election go? way, in terms of the u.s. election, it should be on the side of -- look at how trump won. trump won in the classic midwestern states from a lot of voters who were on the lower paid side. in that case, the republicans won with backing for lower paid workers -- from lower paid workers. anna: some of the politics may be with us for a long time. you said the economic effects could be with us for a long time. what does this mean for deflation? how low will it stay and for how long? guest: we have been a low path for years. hard to see inflation. i know some people are worried about quantitative easing, but the evidence shows there is no relation between quantitative easing and inflation. the more subtle aspects, which evenss talked about, is with inflation, interest rates are ridiculously low even before this crisis. what i mean is the normal premium you see with inflation, inflation on the low side, normally

. -- emmanueled macron pledged a different -- additional stimulus.l discuss the outlooks in britain next. this is bloomberg. ♪ ♪ a strong financial sheet, balance sheet repairing for 9/11. this is three times worse. >> we think in june there is going to be more demand for flying. demand is lower, there could be some consolidations. is rescuing the airlines. >> why is it the german and french government, are the biggest -- the inworrying is leveling of the playing field. >> it will take years for the traffic to recover. taste of what a is coming up. guy johnson host a special report weighing in on the future of flying. "coronavirus: grounded." government iss preparing a second phased stimulus between 50 billion euros and 100 euros. wantocial democrats spending at the higher level while the conservative bloc are pushing back. officials will present proposals this tuesday. were talking about the recovery globally. you said you expected it to look little bit more like a tick. given the stimulus in the cards for germany, do you expect the stimulus coming

more than 300 mayors in the capital region including the paris mayor urged macron to delay reopeningscheduled for next week. they called the timetable untenable and unrealistic. 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 a mark crumpton. this is bloomberg. scarlet: thank you for that update. just want to let you know that the disney earnings conference call is still taking place. a headline that disney will opening shanghai disneyland on may 11. some of the disney theme parks getting back to some sense of normalcy. obviously, no word yet on when the u.s. parks will be reopening. that is something investors will be keeping an eye on. that does it for "what'd you miss?" this is bloomberg. ♪ ♪ emily: welcome to "bloomberg technology." i am emily chang, currently sheltering in place in san francisco. markets ending in the positive territory for a second day despite cautious comments on the fed. more countries around the world taking small steps toward reopening. after hourss down after rep

norway committed to $1 billion, angela merkel and emmanuel macron pledged half a billion from germanynce each, while non—eu members from the uk and japan, to saudi arabia and south africa, vowed to contribute too. our europe correspondent gavin lee sent this update. it's probably no coincidence that the people who make eurovision, ebu, and it's not on this year, perhaps it makes up for the fact that there was more than a nod i think to the way they were doing this, with a ursula von der leyen crossing from paris to germany, saying they are sea, paris to germany, saying they are sea , grassy as paris to germany, saying they are sea, grassy as to the french and spanish premises, many technical problems in there as well —— saying merci and gracias. it was either pre—recorded or a life pitch, there was a message from the leader, for example emmanuel macron, the french president, saying this has to be for a vaccine that is universal, for eve ryo ne a vaccine that is universal, for everyone to use in this $8 billion that has to be something everyone can that has to be something everyone ca

this morning, president macron laid a wreath at the statue of charles de gaulle here in paris.le to hang the colours of the french flag from their windows and balconies. a moment of shared european history remembered today in isolation. and we'll return to ve day celebrations in a few minutes' time. i will be speaking to a veteran of that period serving in the royal navy at the time of ve day. we are bringing you some more updates about the coronavirus. the welsh first minister, mark drakeford, has announced that all stay at home regulations must stay in place for another three weeks, but that there are three modest changes to coronavirus restrictions in wales. first will be to the once—a—day exercise rule. because the more we learn about coronavirus, the evidence shows us that the risk of infection is reduced outdoors. we will adjust our regulations to allow people to be able to go outside to exercise more than once per day, but we will strengthen our regulations to make it clear that that exercise must be local. it should begin and end at home, and it should not involve any s

emmanuel macron was pushing for1 trillion euros fund. is 500 billion going to be enough?”ey will be distributed to, and for how much of an impact it will have. we have to remember that sometimes we have to ta ke ba by remember that sometimes we have to take baby steps, and as long as we had in the right direction, this is a positive thing. in the us, $3 trillion has been agreed upon by congress. when you compare it to that, the scale of this is still far too small. as i say, we are moving in the right direction and i think this is an agreement as far as, especially in terms of being a grant, an agreement that i think many people were sceptical would ever get over the line. good to see you. thank you for your comments. let's get some of the day's other news. walt disney's top streaming executive, kevin mayer, has announced he is leaving the firm to become the chief executive officer of popular video app tiktok. mayer led the successful launch of the disney+ streaming service in november, but in february was passed over as disney's new chief executive. tesla is raising the p

a top german judge says the ecb is not master of the universe and must be held macronable as merkel and agreed to reopen. welcome to "bloomberg surveillance." i am francine lacqua. a lot going on in markets and the german constitutional court as we have reports why they came to that decision. first to your markets. on torkets are latching the gdp figure than the forecast, and people are expecting worse things to come. these are the markets we are looking at. there is a little bit of stabilization compared to what we saw on our ago, but the focus is from what we heard from dr. soon.cannot reopen too treasuries and gold holding onto the previous games. that's get to the first word news in new york city. >> the european central bank is not master of the universe and should not pretend otherwise, according to the german judge who gave his opinion on the qe program. he is asking for the bank to take responsibility for its qe program and explain it to those negatively affected. level coronavirus cases have topped 4.2 million. in the u.s. cases slowed to 1.4%. 's licensing its potential treatm

macron, there is this huge attention about this pandemic forward. francine: it certainly is and how you distribute all the medication. let's get straight to the bloomberg first word news. bless you, tom. >> good morning, francine, tom. china denying it try to cover up details of the coronavirus outbreak. beijing says it did not know until january 19 how infectious the new disease was. china says they release that information the next day. -- chinese the federal government is out with new guidance on how to reopen bars, restaurants, and workplaces. of cdc has outlined a number steps, among them, including social distancing, and how to tect coronavirus cases. germany has ended a historic recession with its biggest month in over a decade -- slump in over a decade. government spending and construction helped stabilize the economy somewhat. oil is headed for its third weekly increase in a row. west texas intermediate futures closed about $27 per barrel for the first time in over a month. major producers have been cutting supplies and consumption has been

what that has done in particular for highly indebted european member states like italy, so getting macron and merkel to agree on things is really no mean feat, but if i were to describe how europe is being put to the test with relations to china, it is between a rock and a hard place. france, and it's historically protectionist stamps, has always been more skeptical. i think we are likely to see a bit of a holding pattern when it comes to china, but the u.s. is pressuring europe when it comes to relations with huawei and all of that. there isn't a lot that europe can do right now. ok. let's talk a little bit about what you just mentioned with reference to italy. does this pandemic represent an existential threat for the european union? aboutare serious concerns italy's debt load and whether it can manage to maintain itself as part of the single currency. what is your expectation? do you think that italy represents a threat to the fabric of the european union, and by extension, the single currency? tina: i think italians are justified in their great disappointment with the poor response fr

president emanuel maccallum still -- emmanuel macron still leled a celebration. let's speak with our correspondent in berlin. president steinmeyer had been addrdressing the natations. what mesessage was he keen to gt across you repororter: -- acros? reporter: yes, very strong and solemn words t to commemorate te end of the war in europe. may 8, 1945 was a day of liberation also foror gerermany, alonong and painful process for many germans which forced them anying to face up to paininful questions from the pa. he said that this process took decadedes of strugglining. he said something quite strong country,aid this germany, can only be loved with broken hearts because it bears the responsibility for the death and suffering of millions around the world. he called on t those out today t minimize germany's responsibility. he also called for germany to think european. he said, we must feel, think, and act as europeans and if we do not help europe together during and after the pandemic of coronavirus then we will really have shown we are not worthy of the may 8, 1945. o

the miracle macron plan is big it will direct 500000000000 euros it industries in countries most severely hit by the pandemic importantly these are not loans but grants meaning the money will not have to be repaired 8 and the cash will be borrowed by the e.u. commission on the capital markets and paid back over 20 years. so has miracle turned her back on her principles all this represents a huge change of tank for germany until now the chancellor was against cash transfers to economically troubled countries like spain and italy they are now likely to receive the lion's share of the help the plan involves taking on debt at the e.u. level also previously a to boom in german eyes but change has come because of corona and the desire for compromise with france this sees history course step for france and germany and this is all short historical step for the whole european union because this is the 1st time when france and germany stands together to have a phone ding through dept of munich vestment for the e.u. countries despite the break with previous strict financial caution the plan has the

cheers in paris, president macron laid a wreath at the tomb of the unknown soldier. and german chancellor, angela merkel, led commemorations in berlin. the red arrows flew over central london, and there were flypasts in edinburgh, cardiff and belfast. music: a nightingale sang in berkeley square by vera lynn # i may be right # i may be wrong # but i'm perfectly willing to swear... # and, ahead of a special evening of celebration, we'll speak to the welsh soprano, katherinejenkins, who has performed a medley of wartime favourites to an empty royal albert hall. in other news, there's to be limited easing of lockdown restrictions in wales. at 5:00, we'll bring today's coronavirus briefing from downing street, led today by the environment secretary, george eustice. good afternoon and welcome to this bbc news special. we'll be bringing you all the latest on coronavirus with the downing street news conference at 5pm. but first, a two—minute silence has been held across the united kingdom to commemorate the 75th anniversary of ve day. events are taking place all day, but pu

this after angela merkel and emmanuel cry problem -- and emmanuel macron presented their vision. continues to emphasize the commission will acknowledge some sectors will be hit harder. in an exclusive interview with bloomberg tv, dumb brzeski elaborated -- dombrosky elaborated. as a part of our recovery plan, the solvency support supportnt, indeed to investment among other things, to companies equity, but mainly an indirect way. controversial. joining us to talk about what is happening is bloombergs maria tadeo. , what we find ourselves here is a situation where we have an uneven playing field team generated. the commission will be taking statements and i'm curious to hear your take on what the details of that are, then we have this growing concern that germany is able to leverage its might to aid its companies to make sure they recover from this more quickly. maria: that is exactly the problem. i am sure you remember at the start of the covid crisis, every european government says they would protect their companies, they would protect their industries, and do whatever it takes t

emmanuel macron here. he's making his way up. very quiet. the only people who are out are the policemen. he's with just a few dignitaries where he'll be laying a wreath. >> and he's doing that right now. let's just listen in for a few seconds. ♪ ♪ >> thank you so much in paris. yes, as you said, very solitary commemoration there across europe today. we'll be coming up next with more stories. the covid crisis will be keeping some people, beach goers apart from each other. a clear fact of plexiglass safety measure. - i've been pretty stable with my schizophrenia for a while, and then my kids asked me why my body was rocking back and forth. my doctor said i have tardive dyskinesia, which may be related to important medications i take for my schizophrenia. i also felt my tongue darting and pushing against my cheeks. i was worried what others would think. td can affect different parts of the body, and it may also affect people who take medications for depression and bipolar disorder. i know i shouldn't change or stop my medication so i was reliev