Record rise in cases and a warning for americans Top University predicts 118000. Deaths. And South Koreans the 70th anniversary of the war with north korea. Australias Largest Airline quantas is cutting 6000. 00 staff to reduce costs as it fights to survive the crown of virus pandemic the airline is grounding 100. 00 planes for at least a year and will keep 15000. 00 workers on leave for months its boss alan joyce says hes hoping to save 10000000000. 00 over 3 years in response to what he says is the biggest crisis the industry has ever faced. This crisis is still hit those very very hard and the impact will be felt for a long time particularly im sorry to say the impact on our people it is very clear that International Travel is likely to be stalled for some considerable time i outed the peak body for the Airline Industry says it will take more than train years for Global Travel to return to 2019 levels and make a leg aids joins us now live from kamber and so nick a call this is a big
And head back to their villages. We begin with new developments in the global Aviation Industrys efforts to survive curing the pandemic more than 40 Major Airlines have been forced to ground their entire fleet many have suspended over 90 percent of their flights australias Largest Airline quantas has today announced 6000. 00 jobs are to be cut in a bid to lower costs as it fights to stay in operation across in the us air travel is still down more than 92 percent as compared to this time last year even though some flights have resumed since april germanys love turn sir the 2nd biggest in europe has signed a deal to secure a 10000000000. 00 government rescue package dominic cain has more now from berlin. Remember that this deal needs still to be approved by the shareholders of loved ones and the devils in the detail that because in order for the shareholders to approve this deal they have in effect to accept the dilution of the power of the shares that they own and that has proved to be
Back and devastation which will take many years to recover. 70 percent of the state of the year has already been developed the forested for lucrative timber then burned to create land for cattle rearing and sawyer production the rest is up for grabs and no one it seems is stopping them at the moment if you burn the forest you are backed up by a president and then you do exactly as you want to do because you know nothing will happen and thats a problem and we have seen statistically when this Law Enforcement fires in deforestation goes down when we dont have it it goes up. The thought has a still burning but will boast not bend on the bay heat of International Pressure or bow to the ambition of some of the strongest supporters that their aljazeera grown donya state north west of brazil pay in the news ahead President Donald Trump downplays north korea koreas latest Missile Launch its 7th in a month and indonesias Coffee Growers are in trouble theres been a bumper crop but not a bump a p
Repayments i dont think that is as much an issue as we thought weve sort of gone away from our debt and deficit fetish in a stride because its been saying its more political scare campaign than anything of you know grounded in an economic theory. Does debt matter i mean i guess it does for argentina still under its i. M. F. Program what is the state of argentinas economy right now. Well i was i was listening you know to the to the other answers and thinking well if you print money for long enough then you push it into so many electoral cycles then it becomes a structural problem so youre talking about you know that a Monetary Policy no matter what stage you are within a government so i mean of course that matters to argentina and the key question right now is whether the next administration whoever it may be you know will be able to repay dead or needs to restructure the payments schedule with the i. M. F. You know its unrealistic for argentina to face its that payments in 20202021 so
Choice frankly when they started printing money it was an unprecedented policy approach but they felt they were facing unprecedented times jim should we be worried about debt the new thinking it seems among more than Monetary Policy advocates is the debt no longer matters who are strongly we had our debt and deficit. Before the election now the elections over its sort of gone on why are very low in any case i think. Provided youve got. An export process as i cry in the in the last issue the last question where we talked about brazil and china both a strong brazil we have. Help with strong Commodity Prices so you know stride is had a morning boom with exports to china or brazil which had a dawning boom would saw your bones and so on so i think if youre a situation where your commodity. I mean you can make your interest free payments i dont think that is as much an issue as we thought weve sort of gone away from a debt and deficit fetish in a strike because its been saying its more polit