Will Italy Leave The EU, European Union, And Italy, Coronavirus in Italy, the European Union Countries:- On 9th April Italian prime minister, Giuseppe Conte warns European Union Countries if EU fails to help countries that were hardest-hit by a coronavirus IT could collapse.
European Union On Coronavirus In Europe
From Italy to other European countries Coronavirus become Europe’s worst problem, since the outbreak started in Italy all countries reported their Coronavirus situation in their country.
Around 16 lakh confirmed cases reported and 3.5 lakh death Recovered from the virus and 1 lakh death reported. while in Europe around 4 lakh cases and 40 thousand death reported. Italy and Spain are the worst affected country in Europe
The European Union (EU) is a political and economic group of 27 countries that are basically located in Europe. The European Union economy consists of an internal market of mixed economies based on the free market and advanced social models. For instance, it includes an internal single market with free movement of goods, services, capital, and labor. (Source Wikipedia)
Italy in the time of coronavirus
More than a month after the first confirmed cases Of coronavirus was recorded in Europe, Italy has q become the Western world worst-hit country, second- only to China in terms of the number of deaths caused by the virus. ‘The Italian government has placed temporary restrictions on visiting relatives in nursing h omß, has canceled public and sporting events, and has urging elderly people not to go outside unless absolutely necessary.
Those moves followed an announcement that all Italian schools and universities would be closed and people were warned to avoid mixing with crowds and keep physical contact Italians are not just worried about the Virus, but the effect it could have on jobs, tourism, and the economy could be devastating. Tourism and its related industries amount to roughly 13% of Italy% gross domestic product. Nationwide the tourism industry is expected to lose an estimated €7.4 billion because of the virus.
Spain in the time of coronavirus
A number of Spanish coronavirus cases go above 140,000 with 5,478 new infections – 1,200 higher than yesterday’s increase – as deaths rise by 743 to 13,798.
Both countries are under full lockdown since early March but have started plotting routes back to relative normality because the crisis has eased.
European countries’ economy after coronavirus epidemic
Europe, our Common House The Political Economy Implications of the Coronavirus Eoin Drea The Coronavirus (COVID-19) is continuing to spread quickly around the world. It is a highly transmissible virus that impacts disproportionally on older age cohorts.
Large gaps in our understanding remain, particularly with regard to the possible extent of undiagnosed cases and whether the virus will naturally reduce in Europe as the spring develops. till April 10 16 lakh global cases have been confirmed with over 95 thousand deaths.
Euro-pean countries like Italy and Spain are in worse condition due to epidemic are now for large increases in the number of affected people requiring treatment and hospital care.
On March 1 IT, COVID-19 was declared a global pandemic by the World Health Organ- isatin. Understandably, much of the current commentary on the virus still focus on the fluid situation regarding the tie number of infections, the mortality rate and the differing containment measures enacted by varying states.
The level of societal unease at the implications of the virus — restricted activities span all aspects of daily life from cinemas to cafes, from schools to universities and businesses — is currently dominating the media discourse. Such a focus reflects the overwhelming priority of all societies to protect human health where possible. Immediate Impacts will be severe and wide-ranging.
Will Italy Leave The EU
However, from an economic perspective, it is important to look past short-term fluctuations if we really want to gain an understanding Of the longer-term economic and political implications for Europe.
Based on the experience of China (and to a lesser extent South Korea and Italy) it is clear that widespread and prolonged containment measures are required to combat very high transmission levels. However, such measures are accompanied by a rapid deterioration in economic fundamentals.
For example, regarding China, the IMF estimates that while “the drop in manufacturing is comparable to the start of the global financial crisis, the decline in services appears larger this time — reflecting the large impact of social distancing”. The index of Chinese manufacturing and non-manufacturing economic activity declined by 14% and 25% respectively in February 2020 alone.
More recent data highlights a much more significant impact on the Chinese economy than previously anticipated. In lt- aly panial_data relating to the second weekend of forced closing highlight a 96% decline in revenue for clothing/fashion enterprises and a 70-80% drop for bars and restaurants throughout Italy.
Even before the implementation of restrictive measures in Bel- gium, hotel_bQQKings in Brussels had declined by It should be noted that in late 2019, before the COVID 19 outbreak, major economies in Europe were already experiencing a softening of economic The political Economy Implications to the Coronavirus