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GUIDEPOST LOVES GOOD NEWS: The EU Approves its Own Marshall Plan* Following the Devastating Corona Pandemic! »
European Commission President Charles Michel: “This is a good deal. This is a strong deal. And most importantly, this is the right deal for Europe. We negotiated about money. But, of course, it is about a lot more than money. It is about workers and families, their jobs, their health and their well-being. I believe this agreement will be seen as a pivotal moment in Europe’s journey, but it will also launch us into the future. That is the magic of the European project”
Spanish Prime Minister Pedro Sánchez: The Agreement in Brussels of the Coronavirus Recovery Plan marks “one of the most brilliant pages ever written in EU history.” It is “a historic agreement for the economic recovery of our country [i.e., Spain], not only in offering a response to the COVID-19 crisis, but also to the transformations needed.” The Agreement is 95% satisfactory for Spain and 100% for the whole of the EU.
I had given up finding my favorite Street Performer Don Quixote. I was afraid he had gone the way of the many other performers, not to be found again. But to my surprise, on one of my last days in Madrid I rounded the corner and there he was. Tall, handsome, and lance in hand, waiting for people to take his picture. I have always loved finding him.
The EU economy will experience a deep recession this year due to the coronavirus pandemic. The Summer 2020 Economic Forecast projects that the euro area economy will contract by 8.7% in 2020 and grow by 6.1% in 2021. The EU economy is forecast to contract by 8.3% in 2020 and grow by 5.8% in 2021. Early data for May and June suggest that the worst may have passed. The recovery is expected to gain traction in the second half of the year, albeit remaining incomplete and uneven across Member States.
Since 18 February 2020, Madrid folk can go up and down Gran Via on Bus 001 of the Zero Line free! You get to pass stunning avenues along the way. You get another free ride on Bus 002. 002 is dubbed the slowest bus in the nation’s capital, its tortous but historic and titillating route being narrow streets.
Earlier this month France, Germany, Italy and the Netherlands joined forces to form the Inclusive Vaccine Alliance, in order to have a stronger negotiating position in the race for a coronavirus vaccine. All EU member states will have the opportunity to sign up to the deal, under the same conditions as the
alliance members. But something might go wrong at the last minute and production might just end up where all pipe dreams go — down the drain!
Economists Moritz Kuhn, Moritz Schularick and Ulrike I. Steins: “Historical data reveal that no progress has been made in reducing income and wealth inequalities between black and white households over the past 70 years.”
“We’re turning a tragedy into an opportunity. We’re bringing everyone in… It’s all about helping people grow and redistributing the wealth properly so we can solve the problems that currently exist.”
“As businesses begin to open, you’re going to see the demand side of the economy rebound,” says Treasury Secretary Steve Mnucin. But Kevin Hassett, advisor to Pres. Trump, doesn’t expect a V-shaped recovery. The economic impact of the coronavirus lockdowns have been felt around the world, and the US is no exception.
At a minimum, there seems to be a willingness among business and labor to work together in order to overcome the extreme social and economic difficulties brought about by the coronavirus pandemic in Spain and in the Eropean Union.