he got 2 strings here on the one hand you have got what the minister of finance announced this morning it was about 45000000 euros going to be put aside to help companies through this next couple of weeks and that will mean giving them money make sure they can keep up racing and make sure they complete start you start may still be at high on the government's also said that companies won't have to pay for the time being paid a gas electricity and water bills the minister of finance also said unfortunately that france will probably go into recession now but he had some very comforting words for companies he said that if need be france * will nationalize firms if it comes to that and that comes on top in a big bundle of money are you $300000000000.00 euros that emanuel macron the president said yesterday would be made available to make sure that the country just doesn't fall apart he cannot both of them the minister of finance and the president said the money will be there don't worry if france sticks together it was stays home and nobody loses their head it's a france can get through thi

the federal minister of finances and the minister of economic affairs have stated that we will do everything that is possible this will come in the form of liquidity support there will be funds for serious cases with hardship funds were still in the phase of. spending all of these regulations and rules and rescue packages but this is work in progress and we're dealing with something very unique here we haven't seen the similar situation in the 70 years of the existence of the federal republic of germany but now we are in a situation where we have to do that during the finance crisis is the g 20 framework started to work much more closely together it was an impulse for international color be watching a press conference given by the german chancellor angela merkel and responds to the coronavirus crisis during a war about 5 or 6 minute speech she talks as she talked a couple of times about how unique this situation is they have the measures that she outlined said she said were to decrease social contact mitigate the effect on the economy a guaranteeing medical services and guarantee food suppli

available to make sure that the country just doesn't fall of party cannot both of them the minister of finance and the president said the money will be there don't worry if france sticks together it one stays home and nobody loses their head they say france can get through this next 2 weeks i catherine field in paris thank you thank you. from france to germany where the country's disease control agency has raised its coronavirus risk assessment to high indications from the country's clinics that the number of serious cases is increasing has led the head of the robert cock institute to say that stricter measures are necessary to contain the virus has spread germany now has nearly 8000 confirmed cases of them for the last week and one of the candidates for the leadership of the german chancellor angela merkel's conservative party has tested positive for the coronavirus friedrich met says he only has mild symptoms and will stand home until the end of next week term he's not yet on the general lockdown but the government's appeals for people to stay at home and avoid unnecessary contact are having

companies won't have to pay for the time being paid their gas electricity and water those the minister of finance also said unfortunately that france will probably go into recession now but he had some very comforting words for companies he said that if need be france will nationalize firms if it comes to that and that comes on top and a big bundle of money are you 300000000000 euros that emanuel macron the president said yesterday would be made available to make sure that the country just doesn't fall apart he cannot please both of them the minister of finance and the president said the money will be there don't worry if france sticks together if one stays home and nobody loses their head say france can get through this next 2 weeks i catherine field in paris thank you thank you. from france to germany where the country's disease control agency is raising its coronavirus risk assessment to high increasing indications from the country's clinics that the number of serious cases is rising as lead they had of the robert carr institute to say that stricter measures and necessary to contain the virus

youral as the president of group and also being finance minister of a small -- of euro group, and alsong finance minister of a small economy in the last couple of years is to make sure that these level -- that this level of integration, that the level of interconnectedness in our sonomies do not fall apart, that we can really benefit from being in the european union. i believe we are all winners of this huge experience of building unionetary and economic in europe these days. and we have to continue that in the future. dr. centeno, thank you so much for joining us today. we greatly appreciate it come on the esm, and the crisis that we see in europe. we have got much more to come today on "bloomberg surveillance." television and radio. hugely, francine, a dynamic moment in the united states. we look at the u.s., it is really quite amazing, tom. we are dealing with the same curves in terms of the steepening of the curves and how it is affected. but every country is doing it a little bit differently. today we had a joint letter from the fca, the bank of england, the lending on the back of

are you worried that the market will -- with were in touch sovereigns and ministers of's with sovereigns and ministers of's financeisters of finance. >> where does that leave us with the 2.1 we have on the table today? is it frozen? does it rollover? have decided to adjourn this meeting, but to we aree consultations, optimistic that we will be able proceed goingw to forward. [reporters asking questions] >> we have focused on addressing market,librium in the and the deteriorating market conditions. to do that effectively and efficiently, we need everyone on board. have signed a resolution, re-examining our continued commitment to the target corporation. corporation.red there is no doubt that the board is strong with everyone on board. >> what is on the table with the cuts? is it still 2.1? or 1.5? what's the agreement we have now? >> the opec group is unanimous quarter,ginning second and the extenuation of the current agreement through the end of the year. we have a consensus on that and we are unanimous. within the non-opec, 90% but we to some of the countries, one or two, who need to hold further consultations wi

we will be announcing measures this afternoon that will be done by the minister of finance and early next week that will be further measures to directly help canadians as well. >> obviously we wish good health to all canadians but if you are to fall ill, members of your cabinet for instance, what is the plan for governing? p.m. trudeau: we have continued to engage, we have been busy both yesterday and today. we will continue to work from home and remotely to do the important things that need to be done to keep canadians safe. we have an exceptional cabinet that is working hard on all of these issues as well. we have extraordinary public servants. we will continue to do the work that needs to be done to keep canadians safe while following all of the directions by public health officials. >> i don't think that indicates whether there is a contingency plan in place if you were to fall sick. i am curious why public officials have told you you don't need to be tested. p.m. trudeau: first of all, there have always been contingency plans for cabinet members who are sick or even a prime minis

we will be announcing measures this afternoon that will be done by the minister of finance and early next week, there will be further measures to directly help canadians as well. wish that helps to all canadians, but if you were to fall ill, members of your cabinet, for example, what process of governing? prime minister to go: we will continue to work at home and remotely to do the things that are necessary to keep canadians safe. cabinet.n exceptional we will continue to do the work that needs to be done to keep safe, while following all directions by public health officials. >> i don't think that indicates if there is a contingency plan if you were to fall sick. i'm also curious why you do not need to be tested? ofme minister trudeau: first all, there have always been contingency plans for ministers or even a prime minister who has fallen ill. we will continue to follow all of those correct contingency plans. i am continuing to work extremely hard from home. in terms of advice i've gotten from medical professionals, it was explained to me that as long as i do not show any symptoms a

we will be announcing members this afternoon that will be done by the minister of finance. an early next week there will be further measures to directly help canadians as well. >> obviously we wish you good health to all canadians. but if you are to fall ill, members of your cabinet for instance, what is the plan for governing customer. >> we have continued to engage that been very busy both yesterday and today we will continue to work from home when each of the important things to keep canadians safe. we have an exceptional cabinet that is working hard on all these issues as well we have public servants to do all the work following all directions for all of our officials. >> i don't that indicate that there's a contingency plan is if you would fall sick. and why do you not need to be tested customer. >> there have always been contingency plans for ministers who are sick or even a prime minister who has fallen ill. we will continue to follow all of those correct contingency plans. but as i said, i am continuing to work extremely hard from home. in terms of advice i have gott

he has appointed a highly respected former minister of finance as minister of public enterprises, ands taken the right steps, you can'tjust go and arrest people willy—nilly, the director of public prosecutions says there will be high—profile arrests. it's his colleagues who are sitting in parliament with him who key benefactors of state capture. he, himself, has allowed them to continue to function in parliament. this is a very crucial role that the president has. his hands are tied come as you well know, by the pro—zuma factions in the anc, supporters of cyril ramaphosa issued a statement recently this year saying, "elements engaged in the long term project of state capture regard the ramaphosa presidency is necessary before they are once more in power." a very powerful statements, he opposes the anc, so should the rest of south africa be an audience to anc‘s politics while people aren't doing theirjobs. you have to got to give him time to try to clean up south africa. i completely disagree. if you want to fight corruption, why don't you think about other mechanisms to make it up by

he is a point —— appointed a former minister of finance as minister of public enterprises, and also kindanjust go anti—corruption tsar, so he's taken the right steps, you can just go and arrest people willy—nilly, the public prosecution says there will be high—profile arrests. public prosecution says there will be high-profile arrests. it's his collea g u es be high-profile arrests. it's his colleagues who are sitting in parliament with him who key benefactors of state capture. he, himself, has allowed them to continue to function in parliament. this is a very crucial role that the president has. his hands are tied come as you well know, by the factions in the anc, supporters of him and issued a statement recently this year saying "elements engaged in the long term project of state ca ptu re in the long term project of state capture regard the presidency is a necessary interboro before they are once more in power." a very powerful statements, he opposes the anc, so should the rest of south africa be an audience to anc's of south africa be an audience to anc‘s politics while people aren't

there were some circumstances aside from the economy the minister of finance said and then to do just the opposite to support quebeckers purchasing power are notably seniors who are the most vulnerable in this crisis and to commit the purchasing power of seniors who are over 65 years of age. since the beginning of our government five years ago we decided to invest as they are increasing for the most vulnerable by helping students and with the grandson families and the child benefits. and to be there to help them in difficult times. >> >>translator: mr. speaker the track record looking at that during the election campaign but now we talk about the future. and just a few months away from the budget. and doesn't seem to be doing very much and taking concrete action to reassure people to send a clear message the most vulnerable people in the situation can we guarantee as a 65 years of age the right honorable prime minister the government is always there to act for our seniors and then we increase the gis to help the most seniors investing in home care and housing taking care of our senior

there were some circumstances aside from the economy to have an impact but the minister of finance said given the circumstance we could be stepping back and we have to do just the opposite and support the purchasing power notably, seniors were the most vulnerable in the crisis whiz the prime minister rather to commit to improve the purchasing power of seniors who are over 65 years of age? since the beginning of our government five years ago we decided to invest in seniors by increasing the gis for the most vulnerable of them by helping students also helping families with the child benefit there is a challenge for workers in seniors and entrepreneurs with the coronavirus and we will be there to help them in difficult times. the. >> the honorable member. >>translator: the track record during the election campaign now we are just a few months or weeks away from the budget we don't want to send the alarming message but the government isn't sending out a message and isn't doing much compared to quÉbec that is taking concrete action. can you send a clear message for the most vulnerable people

been meetings has of the ministers of finance, of the g20, there will be a meeting of the leaders of20. that means people are now very aware and very concerned, and now they are looking at every possibility. here, the question is not what we are getting to the big numbers now. the big numbers look like there may be enough to the question is how to allocate those resources because they -- there will be different types of needs, individuals are going to have different needs than the small and medium enterprises and the large enterprises. some sectors are going to need more immediate support than others. we also have to think about what -- the crisis is going to leave us, in order to deal with a going forward. we also have to be prepared for that. shery: when it comes to allocating resources, it is important you do it effectively. i do wonder how effective cash handouts are. the u.s. is looking to hand out $1200 for lower and middle income americans. but then we have seen this happen in the past into thousand nine. we are now seeing it happen in hong kong. do they work? angel: listen, a

steve mnuchin and this week there will be a conference call bebecause of the need to limits on travel. between all the finance ministers of the seven most developed countries in the world. the g. seven in order to coordinate our responses. we will also have thehe eurogroup meetining the finance ministers of the eurozone to coordinate our responses as well. and checking in on today's trading action stimulus expectations definitely showing on u. s. stock indexes monday as wall street and races back from losses of over 10% last week. now getting some eight hundred fifty points defense day up. 5% with apple shares leading the way s. and p. five hundred and the nasdaq not too far behind. european indexes ended the day mixed monday's rebound held back a bit by dismal manufacturing data out of china for february when it's forty one hundred finished the dayay up. just under half percentnt frankfurt's dax in the red buyer about a quarter percent at the close. british airways and ryanair say they're canceling hundreds of flights as travel demand tanks in the face of virus fears. british airways is spending two hundred twenty six

is mobilizing again and at the moment we are speaking there is a teleconference between the ministers of financef the g-20 again, back to the dollar funding, it's very, very important issue and i expect that appropriate cooperation and in the last time, the fed had been cooperating in the present situation again, they have reactivated the swap agreement which permits the dollar to be present in major markets. the problem is that it has to be present at the global level. >> excellent mr. trichet, thank you for your thoughts and we'll continue to have you back as we move through different phases of the coronavirus and its impact on the global economy and the health of many in the world. thank you for your time. jon fortt, back to you. >> pleasure to be with you, rick. >> rick santelli, thank you. as we head to break, want to note the major averages here at session lows the dow down more than 650 points, off about 3.5% s&p off nearly 3.5%. the nasdaq fairing slightly better as new york announces that coronavirus cases surged 38% overnight to more than 20,000 we're back after a quick break so what a

picked prime minister the head of one of the countries banks as his finance minister on monday.er prime minister after a power struggle. let's assess the political environment and bring in former malaysian epi-prime minister from kuala lumpur. -- former malaysia deputy prime minister. we saw the cabinet being announced yesterday. as ad big technocrat named finance minister and we saw familiar unknown names. what to make of the list of names in the cabinet? showsl, the list of names there unknown people because the majority of the mps. even though i hold in high the doctor, excellent, the others are questionable. they are all still tainted with the crisis. they are still there. they were the ones when this crisis unfolded, they did it org to help stop from descending into such a big massive crisis in 1mdb. >> you're suggesting this is back to the old. if that is so, are their policy measures that may be implement it that you hope not to see? >> yes. old wine in a new bottle and hopefully this wind is not turned into vinegar. the policies, the cropped regime , how you are entitled

there were some circumstances aside from the economy, cut have an impact on our economy but the minister of finance said that given the circumstance, we could be stepping back from election promises. and i think, we have to do just the opposite. we have to support the canadians purchasing power and notably, seniors. they are the most vulnerable in this crisis. prime minister, to commit to approve the purchasing power of seniors who are over 65 years of age. spee since the beginning of our government five years ago, we decided to invest in our seniors. by increasing the gis training for the most of them. by having students by creek increasing rents in helping families by creating the child benefits. we realized that the a challenge is ahead for our workers and seniors, entrepreneurs the coronavirus and we will be there to help them in difficult times. the honorable member, mr. speaker, the track record while we look at that during election campaigns, but there were talking about the future in the short-term future because just a few months away. a few weeks away from the budget. we don't want to sen

problem right now there is a 5 member committee set up by the nigerian president that include the minister of finance the governor of the central bank minister of the of planning all these people are coming together to talk or look at the options before for nigeria and this is a country that has been dependent on oil revenues for more than half a century for them to get funding or to get access to money when their source of revenue is drying up is a very very important thing for the government and for the people of this country min while this is a country that in the past few years has been borrowing have the need to finance projects in this country or for the update have a thanks joining us from a pigeon thank you. and the society russian price war could damage the u.s. shale oil industry it needs prices to be at around $50.00 a barrel just to break even a much higher to make a profit bob katter specializes in the oil and gas industry joins me now from houston in texas good to have you with us live on al-jazeera i mean it really is the perfect storm isn't it aside saudi trying to sort of punish. the

and we have secretary mnuchin, and chairman powell, all the leading ministers of finance and central bank governors uniting and expecting from us the international organizations to be the platform to bring speed of action. we need to lean forward in this crisis with collective resources. and i want to make a very important point for our viewers now. we know from previous health crises that only one third of the cost -- the economic cost of the crisis is from direct impact people unfortunately dying. not going to work. production is shrinking. two thirds of thempacts i loss of confidence. and uncertainty. so we have aery important role not only to act but to mmunicate this action together in the face of this uncertainty. so we can reduce the suffering and ruce the economic burden. judy: well, the seriousness is certainly coming across with what you are saying. director of the i.m.f.managing thank you very much. >> thank you. >> good ening. "newshour" west. we will returny to jodruff and the rest of the full program after the latest headlines. an update to our top story. tonight, the go

have monetary options and especially if you look at the monetary side that's not the task of finance ministers that is actually the central banks around the globe that could specially here in the united states of banks are increasing that the federal reserve at the next meeting in 2 weeks will cut interest rates maybe by 75 basis points and that scenario actually is what really kept the markets going here on monday but overall analysts are skeptical if the worst is already behind us. thanks as ever for your insights. staying on this topic pharmacists here in germany are reporting medical shortages as a result of the coronavirus many international drug companies rely on chinese suppliers who've seen their operations interrupted as a result of the outbreak. this should be where an antidepressant is stored but the drug is currently not available from this pharmaceutical wholesaler in germany supplies have dried up and so it can't be delivered to pharmacies around 300 medicines are unavailable all scarce in germany including this vaccine and the spread of the corona virus could make things even wo

taken care of nobody would lose money from it if there were counselors and today that of the bank and the finance minister of what's open about it reconstruction plan a draft that would see essentially the state back of a debt coming in rescuing the bank and ensuring that anyone who has money in it as a deposit or is safe investors on the other hand will have to move some money but anyone who has an account holder their money is safe except for the limits that are there for the next month what about the bank what's going to happen to it. so the reconstruction plan that was put forward today sees the shares diluted quite a bit sees an investor bank presumably the state bank of india bank which would large amounts of cash putting money in then diluting the shares of the existing all of those as well as money potentially coming in from other and best of so you would see this attempt to recapitalize the banks and ensure that it's liabilities don't take it down. but you had this would be a painful process but because the government of india essentially 2 of the state bank of india is coming in deposit those gi

well it certainly seems an unprecedented numbers come out of germany today the german finance minister and vice chancellor scholtz announced that there would be some 600000000000 your bars available in credit to larger businesses here in germany and also a supplementary budget has been announced of some $156000000000.00 euros which would indeed break germany's debt break which is very much in srong mind into german constitution so of course not only are these huge numbers that are being thrown around here in germany in a bid to to limit the impact on business in the economy here in germany but this really is unprecedented the german economy minister peter out my i said earlier today as well that these are figures that are just not being seen in germany's post-war history and there's also an extra 50000000000 euros that will be made available to freelancers for example just small business owners and they will be eligible to direct payments or some 3000000 people could be ready to benefit from these payments which are being handed out by the german government in a bid to protect the econ

that we do need to workd together, 've had secretary mnuchin, chairn powell, all the leading ministers of finance and cenal bank governors uniting and expecting from us, the international organizaons, to be the platform to bring action. we need to lean forward in this crisis with collective resources. i want to make very important point for our viewers now. we know from previous health crises that onl one part of the cost, the economic cost of th crisis is from direct impt, people unfortunately dying, not going to wok, production shrinking. two-thirds of the impact is loss of confidence, unctainty. so whave a very important role not only to act but to communicate this action, be together in the face of this uncertainty so we can reduce the suffering and reduche economic burden. >> woodruff: well, the seriousness is certainly coming across with what you were saying. kristalina georgieva, the managing director of the imf, ank you very much. >> thank you. he woodruff: in the day's news, progressive champion elizabeth warren has ended her bid for the decratic presidential campaign. the massachusetts

portuguese prime minister acosta was very right when he said it was repugnant on the part of the dutch financeminister the transfer said all we need to inquire why are these other countries not able to mount a strong fiscal response of ok aren't because just let me put that idea thorsten is all for fiscal relief to julia in peru julia you are there but the leading edge of this crisis france spain italy they have less monetary breathing room if you will they have less wriggle room anyway and on top of that social distancing means people do not go out they don't put money into the economy they don't spend so fiscal relief is fine in 3 or 6 months but as of now what's the need for you are well what we need right now is for italy to be able to. increase the public debt there's no way going around that and the former president of the e.c.b. my view but i did the italian former president of the e.c.b. has stated this clearly on the financial times just a couple days ago europe has to come together has to be. run by solidarity and i loud these countries that they call the south of europe which is ita

the minister of finance is likely to capitalize state owned if something were to happen to them whichor the moment. if we talk about the large privately owned banks, publicly owned banks,tely as long as they have strong, investors, especially international investors, then we're not worried. family owned banks that may be at risk. now, when it comes to family they're not the biggest. by and not important the ministry has the funds to provide solution for them. they'll be bailed out if they fail. whatcan be liquidity but matters is that the depositors are covered as long as they meet criteria. yvonne: what about on the consumer side? how do you think individuals and are holding up? fauzi: it's definitely deceleration. there's not been a lockdown of the country yet. it's a dilemma. hand, as far as public concerned, weis like to discourage congregation activities. on the other hand, to provide byective stimulus supported interest rate cut, you need economic activities to accelerate. way, is a dilemma and in a they're very much dependent on the medicine,of coronavirusagainst because in man

japan's minister of finance saying it sees nervous moves in the markets.extending losses to 10%. nervous movements in the market. let's get an update on the developments in asia. we are joined by reporters. let's start with the philippines. on president has put manila lockdown. surely this will have implications on growth going forward. >> the president has put the philippine capital on lockdown for the next month after the spike in coronavirus cases and some numbers of his own cabinet being exposed to infected people. so far included in that lockdown, they are barring entry for all foreigners who have traveled through countries that have localized transmission. they are suspending domestic travel in and out of manila. how will are going to implement the lockdown is still up in the air. he has said he will use the police and military. . the capital region is a million -- is a region of 12 million people. many of whom regularly move in and out of the province. the stock market has not taken well to the news. we have triggered the circuit breaker only five m

don't provide any advice or comment on the policy mix, but i know that just an hour ago, or minister of finance, and some new measures in the area of fiscal policy were presented. was asking you about oil earlier. what about airlines? norwegian hairline -- norwegian airlines was met with really negative headlines. you need to provide some sort of backstop to the travel industry? transportell, the industry in general, and airlines in particular, are heavily hit by the actual problems area that's obvious. , they have much stronger problems these days due to the challenges. but i am not in a situation to comment on any measures that should be taken in that area. alix: thank you for joining us. it was really rate to get your perspective on this difficult time. olsen, thank you very much. catherine rivera of bulltick -- kathryn rooney vera of bulltick sticking with us. when you hear central banks saying we are here, we are they are, doing stuff, what is your take? but it: it is necessary, is not going to change the dynamic of sentiment at home. if we have a payroll tax cut, for example, or lending r

you saw this morning's g-7 statement of finance ministers and governors, i think that statement does reflect coordination at a high level in the form of a commitment to use all available tools including health care policy, fiscal poll sained monetary policy as appropriate. so in terms of fiscal policy, not our role. we have a full plate with monetary policy. not our role to give advase to monetary policymakers but you saw the mention of the gmbing-7 statement as appropriate as ell. reporter: the g-7 seemed indicate -- i'm sorry. the g-7 statement seemed to indicate that policymakers would use tools that were not going to do anything imminent. does this contradict that? or is it in keeps with the actions, the statement by the g-7 this morning? and can i ask what would cause you to make -- take another step, what would you be looking for in terms of economic outlook for data? chairman powell: the sense of the g-7 is to -- we have seven country obviously and different policies, different situations, different mandates, a lot of overlap. the sense of that is to get together as a group and

you saw this mornings g7 statement of finance ministers and governors. i think that statement does reflect coordination at a high level in the form of the commitment use all available tools, including healthcare policy, fiscal policy and monetary policy as appropriate. so in terms of fiscal policy, again, not our role. we have a full plate with monetary policy. not our role to give advice to fiscal policymakers but you saw the mention in the g7 statement as appropriate as well. >> so the g7 statement seem to indicate that poly -- policymakers would use tools but were not going to do anything a minute. does this contradict that or is this in keeping with the actions, the statement by the g7 this morning? and can ask, what would cause you to take another step? what would you be looking for in terms of the economic outlook or data? >> so the sense of the g7 is to, we have seven countries obviously and different policies, different situations, different mandates, a lot of overlap. the sense of that is to get together as a group and sit at a high level these o

we also heard from the minister of finance a few minutes earlier, saying continuing to watch the currencyurgency, and you would imagine, a great deal of concern, considering the strength we have seen in the yen. we are also just getting coronavirus updates from china, reporting 19 additional coronavirus cases as of march 9. the total confirmed rise -- cases rising. 17 new coronavirus deaths on march 9. reportingce of hubei 17 new cases on march 9. we are seeing a stabilization picture coming out with the spread of the virus in china. the rest of the world grapples with the spread elsewhere. what does this mean in terms of your favorite currency pairings at the moment, the dollar yen for example? jason: the fed is in an accommodative mood, but they were accommodative last year and the dollar still went up to read as we look at growth rates, the u.s. is probably going to have one of the strongest if not the strongest among advanced economies this year. that will still keep the dollar relatively strong. fed's balance the sheet through the rest of the we should be watching for not just a rate

latest move is seen as an attempt to prevent something on the scale of the 2008 global financial crisis. >>> meanwhile, finance ministers and central bankers from the group of 20 countries discussed the pandemic during an emergency conference call on monday. >> translator: g-20 members have an extremely important role to play. we're determined the take all possible measures without hesitation to overcome this situation. >> he told reporters the development of coronavirus medicines will be the key to overcomie ining the crisis. he said nations should implement sufficient economic and fiscal measures. he stressed the g-20 members should support countries with poor medical services. he says this can be done if the members cooperate with organizations such as the international monetary fund and the world bank. the finance minister says leaders of the g-20 plan to hold a conference call as early as this week. the international olympic committee is looking at the possibility of post poning the world's biggest sporting event due to the pandemic. the president says he is confident there will be a final decision within four week

the delos dragged away cars water and mud levels above one meter flooded a number of homes and businesses. finance ministers and the heads of the central banks from the g 7 nations are to hold talks later today on measures to reduce the impact of the coronavirus number of infections is on the rise around the globe and the world health organization has said we're in quote uncharted territory the total number of infections worldwide is now over $90000.00 nearly $5000.00 of those cases are in south korea country with the 2nd highest number of cases after china worldwide more than 3000 patients have died officials in italy it is the worst hit country in europe say the number of deaths has jumped from 34 to 52 however the number of patients who have recovered from the virus worldwide well that is now at over 48000 the window of opportunity for containing the corona virus is narrowing and shaking hands for some is now out of the question even german chancellor merkel was politely put in phatic we refused by her interior minister. the virus has spread to 18 of the 27 e.u. countries the block center for disease pre

saying that within the g 7 framework there's going to be quote further consultation on the part of finance ministers health minister if the economic ministers in other words at the end attempt to reestablish international coordination and having said that this was something of a unique situation and one of the lines in that the that i think will strike many people outside the country is unusual not being aware of how germany works is they're thinking about abandoning the current ban on sunday trading which is a big deal here. that's indeed a big deal that's something that has been defended very vehemently for many many years by trade unions in germany in saying that people working in shops should not be forced to work on sundays as well so it's very rare that in germany one can shop on the sunday there's very very special days that are designated sundays that are designated for such shopping sunday shopping particularly hate of christmas for instance so that is something very important it's also i think a measure to try and reassure people to prevent people from actually going crazy in their shoppin

shortages of masks and hand sanitizer have been reported with finance minister but on the threatening price controls amid reports of gouging. a large portion of western m medical supplies come from china whose thahat you are severely disrupted the shortages arere leading to a big boost though for business here in france that produce products like sanitizer in thermometers. games forgets and our colleagues at france televisions report. some french factories working at full tilt to meet its orders for hand sanitizer gel. with the rise in demand following the corona virus outbreak it's now producing sixty thousand bottles a day. when the applicant we are producing about 50% more than we normally do. with this. boosting production they've had to hire extra hands. and now have around ten temporary workers on top of the forty four permanent staff. since the crisis started we have extended working hours there is a shift from ten to six am so production is twenty four hours a day six out of seven days a week we're rolling up our sleeves and getting on with it. sales of hyundai tie the gel hav

the economy we saw the finance minister in france announcing a 45000000000 euro aid package i mean how worried is the government about how the economy is being affected by all of us. they're incredibly worried the finance minister just this morning said that he is predicting that the economy will contract by about heart of a percent that's one percent so that 45000000000 euro package for industry that will go to struggling businesses that will help them to keep going help them to pay employees on top of that let's not forget that emanuel macron announced they would be at $300000000000.00 euro package for all companies and that will help not just struggling companies but also big companies who are here now for something to pay you know for their electricity gas water bills it's all suspended so this huge package of measures is going into place and i think just in the last couple of hours the finance minister said the french state will stop at nothing to protect its companies and that means nationalizing some sounds and that's what the government will do he said all right correspondent catherine field there reporting from paris thank you very much researchers in