Huge European rescue plans, vaccine hopes fuel virus optimism
WASHINGTON: A half-trillion-euro European fund laid out by France and Germany sparked optimism Monday about fighting economic fallout from the coronavirus, as did encouraging early results on vaccine research by a US biotech firm. Global markets surged as Europe pushed towards normality with major landmarks reopening after a two-month hiatus, and as China told the World Health Organization it would back an independent inquiry into the handling of the outbreak once the pandemic is "brought under control." Beijing also offered to share a vaccine once one became available.
" Vaccine hope -
In the United States, the hardest-hit nation, deaths surpassed 90,000, but all 50 states have begun easing lockdown measures to varying degrees, and the 24-hour death toll fell for a second day to 759, one of the lowest in weeks. In Michigan, where car assembly lines cranked up for the first time in two months, employees wore masks and endured temperature checks and social distancing protocols.
As death and hospitalization rates continue to drop in Europe-Italy's daily death toll fell below 100 for the first time since early March-Europe sought to pick up the pace on its exit from the lockdown.
St Peter's Basilica at the Vatican and the Acropolis in Athens opened their doors to visitors alongside many European shops, restaurants and churches. In Venice, the gondolas returned to the waters, even if the gondoliers wore gloves and masks.
"It's good news, a sign of everyone's desire to get back to normal as soon as possible, but without ever lowering our guard in order to defeat the virus once and for all," said Giovanni Giusto, city councillor for the Protection of Traditions. Global markets were buoyed by the 500-billion-euro ($540 billion) European fund, along with encouraging early results from clinical trials of a potential vaccine by Moderna.
The first stage trial provoked an immune response similar to people convalescing from the COVID-19 disease in eight recipients, according to the company. A larger phase 2 trial is due to begin soon.