The coronavirus outbreak, which was first detected in China, has infected people in 185 countries. Its spread has left businesses around the world counting the costs.
Over all, analysts at Goldman Sachs forecast that earnings of companies in the S&P 500 will decline by 33 percent this year, but then surge by more than 50 percent in 2021.
As Europe has become the epicentre of the coronavirus pandemic, governments on the continent have closed borders and turned inwards, scrambling to curb the outbreak and minimise the economic fallout.
A Coronavirus ‘Marshall Plan’ Alone Won’t Be Nearly Enough | The German Marshall Fund of the United States
Senior figures across Europe, from the presidents of the European Council and the European Parliament to the prime minister of Spain and the head of the OECD have all called for a "Marshall Plan" to deal with the enormous human and economic costs of the coronavirus crisis. But to give these references substance, leaders need to remember what the Marshall Plan really meant. It is about politics and strategy as much as it is about money.
Leaders’ comparison with post-war recovery program is largely misplaced, experts and officials say.
Few lawmakers, at least so far, expect their government’s emergency measures to be abused. If, by contrast, his European counterparts have little confidence in the Hungarian prime minister, that is his own fault.