The Pak Banker

Sydney enters full lockdown to fight Delta variant

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Australian authoritie­s announced a two-week lockdown in the city of Sydney and surroundin­g areas as the Delta coronaviru­s variant continues to rapidly spread.

Why it matters: This is the first full lockdown for Sydney since the beginning of the pandemic in 2020. It takes effect from Saturday at 6 p.m. local time until at least midnight on Friday, July 2.

Get market news worthy of your time with Axios Markets. Subscribe for free. The state of play: Sydney residents will only be allowed to leave their homes for "essential" reasons, such as shopping for food, getting medical care or for "work and education, where you can't work or study from home."

Exercising outdoors will be allowed as long as it is in groups comprised of 10 or fewer people. Community sports and weddings will not be permitted. "Funerals will be limited to one person per four square meters with a cap of 100 people, and masks must be worn indoors," according to a press release from the New South Wales govt.

Residents of surroundin­g areas have more relaxed restrictio­ns. Household visits will be limited to five guests, masks will be required in all indoor nonresiden­tial settings and all outdoor events.

Weddings are still permitted, but wedding parties must be limited to 20 people. What they're saying: "We don't want to impose burdens unless we absolutely have to," New South Wales Premier Gladys Berejiklia­n said, per the New York Times.

"Unless you stay a step ahead of this virus, it can very easily get out of control." Zoom out: Australia is one of the many nations "that continue to struggle with ups and downs of the coronaviru­s, mainly because of new variants and a slow rollout of vaccines.

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