Desperate Europe shuts borders UK releases $398bn ‘wartime’ funding

CORONA CRISIS RAGES Global death toll from Covid-19 goes past 8,000; total number of infections surpasses 200,000

BRUSSELS/ PARIS: European Union leaders agreed to restrict most travel into the continent in an unprecedented move aimed at slowing down the spread of the deadly coronavirus pandemic and curbing its effects on the bloc.

Soon after the move was announced, the global death toll crossed 8,000 and the total number of infections surpassed 200,000.

The new restrictions will apply to all non-eu citizens and last for an initial 30 days, German Chancellor Angela Merkel told reporters after a video conference with her fellow leaders. Merkel said that the group expressed a “great readiness” to do whatever is necessary to contain the outbreak and was braced for a “very serious” economic impact.

Banning all travel to foreign nationals adds to a series of restrictive measures that would have been unthinkable in western democracies only a few weeks ago. Several EU member states have imposed curfews and lockdowns, shutting shops, bars, schools, and restaurants in a lastditch effort to stop the disease from overwhelming the continent’s healthcare systems.

For the UK, which has left the EU, the question becomes how this will affect its travellers. From the EU perspective, the ban does not extend to them but in practice, everyone is being told to stay put, given that the UK has advised its citizens to avoid nonessential travel anywhere in the world. With flights cancelled, crossings between the UK and the continent have now become impossible.

While the moves are deemed essential by many epidemiologists, they are bound to deal a severe blow to the European and global economies. EU governments officially acknowledge the bloc is heading to a recession this year - the first since the sovereign debt crisis.

The sealing of Europe’s external border is aimed at lifting an ever-growing number of internal border closings, which have disrupted free movement within the

bloc - one of the key pillars of European integration. It’s unclear whether the internal border checks will be phased out following the latest decision.

850 MILLION STUDENTS NOT AT SCHOOL: UNESCO More than 850 million young people, or nearly half the world’s student population, are barred from their school and university grounds because of the coronavirus pandemic, the Unesco said.

Calling it an “unprecedented challenge” for education, Unesco said schools had been closed in 102 countries, with partial closures in 11 more.

SPAIN REPORTS MORE THAN 2,500 NEW CASES Spain on Wednesday announced 2,538 new cases of coronavirus infections, bringing the country’s total to 13,716.

Nearly half of those have been hospitalised and 774 are requiring intensive care, according to national health authorities. There are at least 588 deaths officially recorded, 67 more than on Tuesday.

LONDON: UK Prime Minister Boris Johnson’s g o v e r n me n t announced a massive rescue package of loans and grants for businesses in a desperate attempt to stop the coronavirus pandemic wrecking the UK economy.

Ministers announced help with mortgage payments, and support for airlines, shops and the hospitality industry, with 330 billion pounds ($398 bn) worth of government-backed loans for struggling companies. In a coordinated move, the Bank of England said it will set up a new lending facility for affected businesses. The pound pared losses after t h e measures were announced. “We must act like any wartime government and do whatever it takes to support our economy,” Johnson said at a press conference in London.

Tuesday’s announcements marked yet another dramatic escalation in Johnson’s response to the pandemic crisis. The premier has been battling criticism that he’s failed to act quickly enough. Even though he urged sweeping restrictions on social contact and mass gatherings on Monday, Johnson has so far refused to close schools, unlike leaders of other countries.

The government’s measures came after its own fiscal watchdog called for big spending to support companies. The Office for Budget Responsibility likened the threat to the economy to a world war, and said it was not the time to be “squeamish” about building up debt.

UK chancellor of the exchequer Rishi Sunak announced the huge package less than a week after delivering his budget and said the measures were only the “first step,” promising further action to protect people’s jobs and incomes in the coming days.

“The coronavirus pandemic is a health emergency but it is also an economic emergency,” Sunak said. “We have never in peacetime faced an economic fight like this one.” Britain is acting from a position of relati ve f i scal strength.

A decade of austerity has cut the budget deficit to just 2% of gross domestic product from 10% during the financial crisis.