PARIS, April 10 (NNN-AGENCIES) — Tentative signs of hope emerged Thursday that the coronavirus pandemic was peaking, as the European Union sealed a rescue package to help the hard-hit continent.
With the death toll passing 94,000, there remained plenty of grim news, with the IMF warning that the world was dipping into a new Great Depression and new data showing the United States has shed a massive 17 million jobs in a matter of weeks.
But hospitalizations dropped in several countries and British Prime Minister Boris Johnson, the highest profile of the 1.5 million people infected by the virus, exited three days of intensive care.
“The fire started by the pandemic is starting to come under control,” said Prime Minister Pedro Sanchez of Spain, where fatalities inched down to 683 from 757 a day before, pushing the total above 15,000.
“Our priority now is not to turn back, especially not to return to our starting point, not to lower our guard,” Sanchez told parliament.
France reported that 82 fewer people were in intensive care for COVID-19 — the first fall since the pandemic broke out.
EU finance ministers agreed in late-night talks to a 500 billion-euro rescue package aimed at reducing pain across the 27-nation bloc, especially hardest-hit Italy and Spain.
“Europe has decided and is ready to meet the gravity of the crisis,” French Finance Minister Bruno Le Maire tweeted after the talks.
He warned earlier in the day that France’s economy is expected to shrink six percent this year, even with the country’s own 100-billion-euro relief plan.
EU finance ministers put aside proposals by France and Italy for pooled borrowing. The Netherlands relented and let the deal come through after pushing hard for Italy and other affected countries to undertake economic reforms.
“Today we answered our citizens’ call for a Europe that protects,” Eurogroup chief Mario Centeno said.
“This response contains bold and ambitious proposals that didn’t seem possible just weeks ago,” added Centeno, who is also Portuguese finance minister.
Both workers and companies are suffering as half the planet is being told to stay at home.
In a move to build international solidarity over the crisis, Germany on Thursday led a videoconference session of the UN Security Council on the pandemic.
Secretary-General Antonio Guterres opened the session by calling the pandemic “the fight of a generation — and the raison d’etre of the United Nations itself.”
Guterres has appealed for a global halt to conflicts to concentrate on the COVID-19 fight.
Saudi Arabia embraced the call by announcing a unilateral pause in its brutal offensive against rebels who control much of Yemen, which has been experiencing one of the world’s most acute humanitarian crises.
US President Donald Trump said he spoke Thursday both to Saudi Arabia’s crown prince, Mohammed bin Salman, and Russian President Vladimir Putin and thought they were near a deal to end an oil price war that has thrown further uncertainties into the global economy. — NNN-AGENCIES