World faces potential new ‘Great Depression’ as virus toll mounts
Thursday, April 9, 2020 | Tag Cloud Tags: coronavirus, Economic Collapse, epidemic, EU, Euro, Europe, Israel, News, Security, Spain, UN Security Council, virus, War, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs! | Printer Friendly
(Worthy News) – World powers scrambled on Thursday to build a global response to the human tragedy and once-in-a-century economic collapse caused by the coronavirus epidemic, as death tolls in the US and Europe soared higher.
In a locked-down New York, the UN Security Council was to meet on the pandemic for the first time. And, by video conference, EU finance ministers were wrangling over how to bail out their worst hit members Italy and Spain.
“We anticipate the worst economic fallout since the Great Depression,” said IMF chief Kristalina Georgieva, warning that all but a handful of countries will see incomes fall and urging governments to provide “lifelines” to businesses and households alike. [ Source: Times of Israel (Read More…) ]
Latest Worthy News
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
Tag Cloud Tags: coronavirus, Economic Collapse, epidemic, EU, Euro, Europe, Israel, News, Security, Spain, UN Security Council, virus, War, Worthy News