A handful of countries consider it is time to open up their economies and ease the lockdown measures.
One of the most eager countries to open up is Italy. During his Sunday briefing regarding the pandemic, Prime Minister Giuseppe Conte said that the containment measures would ease starting May 4. Across Europe, this can be a test on restarting public life and a frozen economy. Even though he spoke about the opening, the Italian Prime Minister still fears a second wave of infections that can profoundly damage the economy: "But the only way to live with the virus in this phase is not to fall ill — and social distancing." The Italian economy expects a contraction of 8% this year, according to analysts.
Construction and manufacturing sectors will be the first to open. During the next two weeks, retail and museums will restart their activity. Starting June 1st, bars, restaurants, and barbershops may open. Schools will resume their activities beginning in September.
Sunday, Italy reported the fewest deaths in 24 hours in six weeks.
Italy40 lost more than 41% since the pandemic took over.
France and Spain are also looking for ways to restart their economies after lockdown. France had the lowest number of cases in a month, while Spain recorded the smallest increase in number of cases in more than a month.
The French Prime Minister, Edouard Philippe, will present Tuesday a plan to ease the lockdown. According to some officials familiar with the matter, the schools will be the first to open.
France40 index decreased since the pandemic started. The biggest drop was of 12.3% in just one day.
Sunday, the number of newly reported infections was lower than 2,000 for the second day in a row. Heiko Maas, the Foreign Minister, dismissed the rumors about a reopening of the European travel destinations.
Germany30 lost 40% since the pandemic started, dropping more than 7% in just a single trading day.
Sunday’s report: over 20,000 overall victims, and only 413 new deaths. It is the smallest number since March 31st. Prime Minister Boris Johnson returned to work today after being treated for Coronavirus in the last few weeks. People are expecting a decision regarding the lockdown.
UK100 lost in just one session 11% after WHO declared Coronavirus a pandemic, reaching a low unseen since October 1987.
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Sources: Bloomberg.com, marketwatch.com, investing.com
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