“A temporary downturn in some sectors or areas of the country is preferable to a longer crisis that could spread to the whole economy via demand and supply effects.”
But the Italian Stock Exchange — propelled by broader declines linked to the oil market’s collapse — took little comfort from the government’s move, falling almost 10 percent by the early afternoon.
Italian Prime Minister Giuseppe Conte gloomily cited the wartime firesides chats of Britain’s Winston Churchill as evidence that great nations persevere when the going gets tough. “Support measures will be adequate to the difficult circumstances and aimed at preventing lasting damage to the supply side of the Italian economy and permanent employment losses,” the Italian economy and finance ministry said.
Schmieding also questioned whether the Italian lockdown — seemingly less restrictive and less punitively enforced than the one-China imposed on Wuhan — would actually work.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus Kills 233 In Italy, Sports Minister Demands Serie A SuspensionCoronavirus Kills 233 In Italy, Sports Minister Demands Serie A Suspension
Read more »
Erdogan says will go to Belgium Monday for talks with EUTurkish President Recep Tayyip Erdogan said he will hold talks in Brussels Monday as he called on Greece to 'open the gates' for migrants at Turkey's border trying to get to Europe.
Read more »
Coronavirus: No cause for panic - Buhari tells Iran, Italy, South Korea - Daily Post NigeriaPresident Muhammadu Buhari Sunday, sent messages to Presidents Hassan Rouhani and Moon Jae-in of Iran and South Korea respectively, and the Prime Minister
Read more »
Nigerian Newspapers: 10 things you need to know this Monday morning - Daily Post NigeriaGood morning! Here is today’s summary from Nigerian Newspapers 1. Imo State Governor, Hope Uzodinma, was attacked Sunday afternoon at Ohaji area of the
Read more »
Italy suspends Serie A, all sports events over coronavirus
Read more »