Tag Archives: Madrid

Flags planted in Spanish gardens to represent victims of the pandemic | Instant News


MADRID (AP) – An association of families of coronavirus victims has installed 53,000 small Spanish flags in Madrid parks in honor of the pandemic dead.

Volunteers lay flags on a grassy slope overlooking the highway in the capital on Sunday morning.

COVID-19 has claimed 31,232 confirmed lives in Spain. But difficulties in testing at the start of the crisis meant many more victims were likely to go unrecorded.

“I think this is a beautiful tribute to the victims, much better than the tribute given by the prime minister,” said 62-year-old retiree Honorio Hernandez. “I was at Arlington National Cemetery and it reminds me of that. These people deserved at least this, if not more. “

Elsewhere in Madrid, more than 1,000 protesters rallied to demand a firmer response to the escalating second wave of the coronavirus.

Madrid has been the epicenter of the virus rebound in Spain, once again the worst-hit country in Europe. Spain had 319 cases per 100,000 population over 14 days. France has 229 cases per 100,000, UK 96.

Copyright 2020 Associated Press. All rights reserved.

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Coronavirus: Brazil reports a record 33,274 cases in 24 hours | Instant News


Brazil has surpassed Russia to become the second country in the world with the highest case of the Coronavirus novel, second only to the US, after reporting more than 33,000 infections, a record high, on Saturday.

According to Reuters, Brazil’s health ministry said the country on Saturday registered 33,274 new COVID-19 cases, bringing the total to 4.98,440. The death toll also rose to 28,834, with 956 new deaths in the past 24 hours, the ministry said. Despite the sharp increase in cases, some states plan to ease locking, ignoring health experts’ warnings that the worst is yet to come, Reuters reported.

‘The US suffered 1L death early May’
Meanwhile, an analysis of overall deaths during the pandemic shows that the US probably reached 1.00,000 milestones three weeks ago. The country said that the number of people reported to have died of COVID-19 infection surpassed 1,000,000 this week.

Between March 1 and May 9, the country recorded about 1,01,600 excess deaths, or deaths beyond the normally estimated number for the year, according to an analysis conducted for The Washington Post by a research team led by the Yale School of Public Health. That figure reflects about 26,000 more deaths than those attributed to COVID-19 on death certificates during that period, according to federal data.

1.05,500 ‘excessive death’
26,000 deaths were not always caused directly by the virus. They can also include people who have died from epidemics but not from the disease itself, such as those who are afraid of seeking medical help for unrelated diseases. Adding or reducing other categories of death, such as motor vehicle accidents, also affects the calculation.

The “excess deaths” analysis is a standard tool used by epidemiologists to measure the exact number of deaths from infectious diseases and other widespread disasters. The researchers estimate that the number of excess deaths between March 1 and May 9 is most likely between 97,500 and 105,500. “It is clear that the burden is a little higher than the total amount reported,” said Daniel Weinberger, professor of epidemiology from the same university who led the analysis.

4,98,440
Total no. COVID-19 cases in Brazil

28,834
Total victims of COVID-19 in Brazil

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Spain says Germany needs to fund post-virus recovery throughout Europe | Instant News


German need to understand it must fund post-pandemic recovery across Europe, the Spanish economy minister told CNBC on Monday, just days before another important meeting for the European Union (EU).

The 27 European countries that formed the EU remained at odds over how to reduce economic shocks from Covid-19, even though they were united a half trillion euro package for faster shopping needs earlier this month. Their main concern now is to present a second plan that will be dealt with a lot of debt related to the virus which is expected to creep throughout the region.

Nadia Calvino, Spain’s minister of economic affairs and deputy prime minister, told CNBC Monday that Germany has a budget surplus that is “sufficiently determined” to be used.

“Now, what we need is for them to understand that we also need to fund the recovery of other (EU) countries, that we need to fund the recovery of all of Europe,” he added.

That corona virus pandemic reappeared old divisions among the countries that make up the EU. Countries that are more fiscal conservative, such as Germany and the Netherlands, are reluctant to take unprecedented steps and issue mutual debt – a financial instrument often dubbed “corona bonds” – to face the economic consequences of the crisis. These countries argue that it is unfair for their taxpayers.

On the other hand, countries that are deeply indebted, such as Italy and Spain, say this is the only way to overcome the “symmetrical shock” of the virus. Italian Prime Minister Giuseppe Conte repeated last weekend that it was time for “corona bonds.”

The next European budget must be Europe’s answer to coronavirus.

Ursula von der Leyen

President of the European Commission

However, Calvino said he had noted some openness from Berlin to design the so-called Recovery Fund.

“What I am seeing is a far more constructive approach on the part of Germany and I hope from now until Thursday, other countries, who may be more reluctant, understand that we need to find ways to fund joint recovery too, if we want to be effective and start our economy as fast as possible, “he told CNBC’s Squawk Box Europe.

The 27 EU heads of state held a video call Thursday to discuss more alternatives to dealing with the financial crisis.

MADRID, SPAIN – FEBRUARY 26: Minister of Economic and Digital Transformation Affairs Nadia Calvino attended the ‘Reino de España a la Trayectoria Empresarial’ award, in honor of Placido Arango ‘In Memoriam’ at the El Prado Museum on 26 February 2020 in Madrid, Spain.

Carlos Alvarez

To resolve disputes about mutual debt, the European Commission, the European Union’s executive body, has proposed to set aside a portion of funds from the next European budget to support various post-pandemic economies.

European leaders must come up with a new budget as soon as possible to fund European projects between 2021 and 2027 – regular but politically toxic exercises are carried out every seven years.

“The next European budget must be Europe’s answer to the corona virus,” Ursula von der Leyen, President of the European Commission, said last week.

However, by doing that, European heads of state will add another layer of complexity to the issue that has been debated.

The new budget involves transfers from each country to a joint European Union basket which is then redistributed throughout the region for various purposes. The main obstacle is deciding what should get funding, because governments often do not have the same political priorities.

“Hopefully EU leaders will face challenges on Thursday and agree on policy responses,” Florian Hense, economist at the Berenberg bank, said in a note Monday morning.

“Good or bad, the way in which the eurozone countries work together in the acute phase of the pandemic can shape perceptions about European integration for a long time in the future. It is better to immediately get it.”

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coronaviruses make more unemployment in Spain than Italy | Instant News


MADRID, SPAIN – APRIL 06: A butcher wearing a mask is seen working at the Butchers ‘Carnes de Pedraza’ in Alpedrete on April 6, 2020 in Madrid, Spain.

David Benito

Spain and Italy may be equally hit by the coronavirus pandemic, but the first can see a greater impact on its workforce, according to International Monetary Fund.

Spain’s job situation is predicted to deteriorate faster than Italy this year. The unemployment rate can reach 20.8% – an increase from the October forecast 13.2%, The latest World Economic Outlook shows. In comparison, Italy’s unemployment rate is seen at 12.7% in 2020, from 10.3% in October.

“The problem in Spain is that they have a much larger share of workers on temporary contracts. In the previous crisis we also saw a very rapid increase in unemployment, with employees with temporary contracts bearing the biggest burden,” Maartje Wijffelaars, senior RaboResearch Economist in the Netherlands, told CNBC Tuesday.

Spain has grappled with high unemployment for years and it is one of the main legacies of the 2011 sovereign debt crisis. At the height of the crisis, more than 26% from the population of Spanish workers out of work. In contrast, Italy’s unemployment rate does not exceed 13%, according to the European Union statistical office.

Although Spain has succeeded in lowering these levels, the country’s labor market is in a more dangerous situation than Italy before the pandemic struck. In February, 13.7% Spanish workers are unemployed versus 9.8% in Italy.

The two countries implemented national lockdown in March to help stop the spread of Covid-19. This policy effectively stopped economic activity, with people only allowed to go outside to buy food and medicines.

“We expect surprises in the first quarter to be worse for Italy than in Spain, because the outbreak hit Italy earlier this year and lockdown measures were implemented earlier,” said Wijffelaars from RaboReseacrh.

I hope the government (Spain) will prove to be quite responsible when trying to get out of this crisis.

Anna Rosenberg

Head of Europe and Britain at Signum Global

However, he added that the economic shock in the second quarter would be greater in Spain “because the hardest hit sectors such as tourism and hospitality are more important to the Spanish economy than to the Italian economy.”

Data from Spanish Ministry of Manpower shows that in March, the construction sector saw 22.92% of newly unemployed people and the service sector saw the highest increase in absolute terms.

Madrid is more ‘responsible’ than Roma

However, some economists are optimistic that the government in Madrid will know how to overcome the economic impact of the pandemic.

“I hope the government proves quite responsible when trying to get out of this crisis when it comes to economic problems,” Anna Rosenberg, head of Europe and Britain at the Signum Global think tank, told CNBC Tuesday.

He mentioned that the controversial move in Spain to restart some construction and industrial production work Tuesday was “clearly an economic decision.”

Prime Minister Pedro Sanchez Spain has said that it wants to find agreement with other political parties regarding the “big pact for economic and social reconstruction” of the country.

“The fact that the new government is reluctant to announce an enormous fiscal stimulus against Covid-19, shows you they are reluctant to direct the fiscal situation to negative territory again,” Rosenberg said.

Madrid has announced a fiscal boost soon 8.8 billion euros ($ 9.6 billion). Compared, Rome has proposed 16 billion euros in direct fiscal stimulus, according to the Bruegel-based think tank.

Italy also has a greater fiscal stimulus in the form of deferral and other liquidity measures. Italy has a debt to GDP ratio (gross domestic product) of around 130%, while Spain is under 100%.

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Spain raised several lockdowns; fewer deaths in Italy | Instant News


A construction site in Valencia on 26 March 2020.

JOSE JORDAN

Construction and factory workers in Spain returned to work on Monday when the government lifted some of the most stringent locking measures, but opposition parties warned against easing “unwise” regulations.

Spain, one of the countries hardest hit by Covid-19, has allowed several factories to reopen and some construction work has resumed, after the sectors were ordered to stop production two weeks ago. However, the message from government officials is that the country remains in locked mode. Schools, bars, restaurants and other services continue to be closed to the public and Spaniards should stay at home.

The decision to relax some restrictions on Spanish lockdowns has been opposed by political opponents, at a time when Prime Minister Pedro Sanchez wanted a “big pact” to boost the economy.

“We must start the de-escalation in current political tensions and provide a way for unity, dialogue, consensus and agreement as soon as possible,” Sanchez said Sunday.

“We need a big pact for the economic and social reconstruction of our country,” the prime minister added.

The Spanish government was formed by the Socialist party Sanchez and the anti-austerity group Unidas Podemos. The coalition gained sufficient parliamentary support in January thanks to abstaining from small parties. The executive also faces some friction with the local government, including in Catalonia.

On Monday, more than 166,000 people in Spain contracted the corona virus, with 17,209 deaths nationwide, according to data collected by Johns Hopkins University. Spain has recorded most cases of virus in Europe and number two after the US for the total number of infections.

Opposition parties have criticized the government’s decision to reopen factories and construction businesses, saying it is “unwise” and “courage” to relax some locking steps.

The pandemic began to have an impact on the Spanish economy. Jobless claims rose by 302,265 last month, according to Spanish Ministry of Manpower. This represented a 9.31% increase from February.

Italy will reopen several stores starting Tuesday

In Italy, there were 19,989 deaths registered on Sunday, representing a daily jump of 431 deaths from the previous day and the lowest daily increase since March 19.

Meanwhile, the number of infections reached 156,363 on Sunday night – the third highest globally.

The Italian government announced Friday that the current locking measures will remain in effect until May 3. However, bookstores, stationery and children’s clothing stores will be allowed to reopen starting Tuesday.

However, factories – which represent the main drivers of the Italian economy – have not been allowed to open their doors.

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