Lawmakers push for a cross party rescue deal to try to save the economy as the pandemic leaves markets dealing with their worst week since the 2008 financial crisis. By their very good afternoon here at the out into the world to central moscow its kevin i am with you for half an hour as we recap the news as reported by us over the last 7 days its coronavirus that dominates but some of that came in before that in croatia earlier on as you can see on your screen there the aftereffects of it there was an earthquake magnitude 5. 32 aftershocks as well it struck near the capital zagreb local media so the 15 year old who was found in the rubble of a building is in a critical Critical Condition in hospital several other people are reported to have been hurt as well. What was the moment the 1st tremors kicked in apparently caught by c. C. T. V. Inside a shop their streets across the city a little with deborah theres been significant damage to several buildings the quakes reported to be the strongest in the region in the past 140 years mostly damage to the top of one of the spires of the citys iconic cathedral collapsed there are also Power Outages and problems of baltars supplies in some areas the earthquakes all worried citizens come out onto the streets despite current advice to stay indoors to tackle coronavirus the Croatian Army is set to help the city overcome the quakes aftermath we very quickly on spoke to one resident who shared her experience with this. I dont have electricity in my apartment theyre all i have to come to apartment of my 5th eric to be able to do now. I being and then i felt that in my heart breaking i mean my bad the so all who are 1000 out of my apartment but you know when youre in this girl now its your nation and everybody are thinking that you are not allowed to go alt. If you are thinking what to do i think that would go out and them are my neighbors were also in front of the building policeman where all thoughts ive been watching what we do will we be together you know are going to we keep this. Horrible morning. One inescapable issue dominating everyones thoughts of the moment to corona virus the latest on that is now that its claimed over 13000 lives worldwide with the number of confirmed cases at more than 314000 in the week its really reached a grim milestone surpassing china as the country to have suffered the most fatalities currently more than 4800 on saturday alone almost 800 succumb to the disease italy shutting down all production of nonessential goods. In the last 7 days the European Union sealed itself off to travelers from outside europe as part of wide ranging efforts to stop the spread of covert 19. To limits district of the various bubel we agreed to enforce external borders both close coordinates temporary wish to action of essential travel to the e. U. Folk preview it or so to do this france has put the entire nation of 67000000 people on lockdown army trucks have been seen in the streets of paris while large numbers of Police Officers have been deployed to try to ensure compliance with it and next you can see the effects of the measures on the city of toulouse these are new pictures in the country southwest but we throng the tourists the streets are totally deserted. Reports on the nationwide quarantine. France is now on or on lockdown street raked lock down that would be in poor the government has talked about deploying 100000. 00 Police Officers to set up fixed points to check people who are in their vehicles the word from the government to everybody in france is to self isolate president mark warner was incredibly clear when he gave the president ial address on monday night in fact the one thing that came through over and over is the problem is that. We are at war war to be sure we are not fighting another army knew another nation but the enemies that invisible and elusive that decision came after the french took the calls to stay at home and self isolate too likely in fact while bowls and restaurants were being closed all around them and many here in paris came out to the parks to picnic to meet their friends all to sit by the same and do the same but no more. The government has announced new measures to limit new infections by limiting contact between people as much as possible to amplify the impact of this measures paris parks and gardens will be closed. Restriction these are really centered around self isolation 2 people have been told that they can leave their homes but the very specific reasons that could be to go for a medical appointment it could be to top up on Food Supplies or it could be to go for a walk for Health Reasons anybody leaving their property has also been told that they need to look at this in pakistan so to say why been leaving their home for some of those reasons that i just outlined anybody who is cool flouting that law or court going out for a walk just socialise with their friends rather than for Health Reasons could face a fine of up to 135 years. The message is clear stay at home these are containment measures similar to those in spain and italy all persons travelling must be able to justify their movements each person will have to carry a document certifying the reason for his or her journey. Was another casualty of the new stricter regime is the 2nd round the ring is a collection which will now be postponed but many had already criticised the government for allowing the force trying to take place while sproles was a partial lockdown. The makris are pushing the limits you do not say to 67000000 french people stay at home for an indefinite period on saturday evening but then on sunday morning leave your house and put your health and those of others in danger if the Health Situation got this bad losing thursday in today to the point of closing almost all businesses in makes no sense to hold these municipal elections they must be postponed because they cannot be held fairly. Holden municipal elections is completely incomprehensible and contradicts the measures announced by the Prime Minister i hope that the government will take responsibility and change its mind as the lockdown began and many of you played the city possibly going to some of the homes here to stay friends and family anything to want to be isolated in this time of emergency here rants this idea of self isolation is something that many people fear many people who live alone the idea of not having enough social contact face to face for a 15 day period is something that they dreading in fact Something Else that they dreading is the fact that the government has said its a 15 day minimum and that these could be extended but many people here. Just have no idea when their lives are going to return to normal charlotte people ski r. T. In paris during the lock down. Shots from elsewhere in the world china where the break originated while the tide seems to be turning there a little the countrys just recorded a domestically transmitted case this sunday but that comes after 4 days before that without any World Health Organization says other nations could learn from chinas example weve got a report coming up later on how strict measures it seems can make a difference. Over the United States so the battle going on there the u. S. Senate is due to vote on a stimulus package later on sunday to inject stability into the economy after 2 weeks of plummeting stocks and mass layoffs a bipartisan deal hasnt been reached yet but it is reportedly getting close to Congress Leaders are set to get together for their final discussions later President Trump revealed the initial plan on tuesday. By making shared sacrifices and temporary changes we can protect the health of our people and we can protect our economy because i think our economy will come back to really rapidly one day well be standing possibly up here will say well we won and were going to say that sure if youre sitting there were going to say that and were going to win and i think were going to win faster than people think i hope among the trillion dollar plus emergency measures on the table a tax rebates and measures to help struggling Small Businesses one of the president s core ideas is to directly mail checks to americans negotiate is also apparently agreed to paid sick leave thats a suggestion made by the democrats which had remained a Sticking Point between them the republicans will markets reacted positively to the news on choose day for a while which is jumping slightly mostly though those markets spent the week struggling with fridays closure marking the worst week since the 2008 financial crisis more gadgety of our Senior Correspondent next explains whats going on in the world economy. Unless you majored in finance everything thats happening may seem a little overwhelming what is going on why are markets melting down while a bank is working around like headless chickens in a few minutes with this monopoly set ill explain my everything seems to be crashing and burning what the hell is a fiscal stimulus and why is everyone crazy about rate cuts 1st that said the pieces here are investors meaning millionaires youre middle class with modest savings your pension is here all of them have some money saved up these days you know keep your money under your mattress you want to return it right interest a big pensions or you take this money and you put it in the banks depending how smart they are all how greedy they are they promise you x. Amount of profit per month the banks then go ahead and loan out this money to whoever needs it they drive our entire economy the new hotel built in your city the new jet purchased by British Airways the new hips the bar bill down the road from you your mortgage to buy your house comes from the bank so all this money goes into the economy to keep things running and here is how it runs every month these people make payments to the bank here every month the same payment goes back to the bank the bank then pays the investors the investors then put the money back into the bank this is obviously simplifying things but you get the gist of it its a cycle it all works great while it works but then something unforeseen happens like a mortgage crisis or a pandemic virus clubs and pubs are to be closed along with theatres museums do Sports Centers and Similar Establishments and retailers with specific. Sanctions. Now is the time to take extra steps were ordering the suspension of all retail activities with the exception of groceries pharmacies and other outlets selling fancy goods. Suddenly mass shut down quarantine factories businesses come to a standstill people lose jobs stop paying mortgages suddenly people arent paying the banks back and the investors the markets your pension manager they start panicking that is their money stuck potentially lost they see the news pandemic they call the bank they say they want their money out all my money out of the markets out of the dow jones out of b. P. Out of up all the markets crash but the banks dont have it here is where the government step in before this mass panic and a run on the banks the government say the magic word bailout Fiscal Relief lots of words but its the same thing the government pulls money out of thin air the money presses and gives it to the banks so that they can keep paying investors its all pretend play they just simulating that everythings fine by printing ridiculous amounts of money and passing it back and forth between each other the real economy the factories in the businesses these guys are in quarantine and shut down but the entire point of this little show is temporary live this illusion has to work for a little while weeks months to allow the economy to recover to prevent the banks from going bankrupt and recalling all this debt to help these guys get back on their feet and start paying their debts back you dont need to be a new to the economist or an economist to realize how how fickle how fragile this illusion is the collapse of the markets is a clear. Very profound statement the entire Investment Community which is not the small people who have a few shares im talking about the people who manage ancient ones who manage bank work for yours and so on have a massive loss of confidence in the government of the United States or in the private economy to get out of this disaster were running on borrowed time they cant keep printing money for too long or inflation goes through the roof money becomes worthless the illusion will eventually wear off even the most optimistic investors can only live in denial for so long and will realize that banks are living in a dream world then it all collapses see the world up until now has been weighing lives vs the economy for all the criticism and ridicule of the world through a child that they shut down everything sacrificed their own economy to keep the virus from spreading the west didnt the west ridiculed that dismiss chinas response as incompetent they tried to keep the markets happy rather than the people safe and what they got america and europe is the worst of both worlds and economy on the brink of collapse and the death toll fast eclipsing that of china. A sobering assessment there from a cd correspondent infections are all supply in the corridors of power with senior lawmakers falling ill in several countries governments be working on contingencies to try to make sure the wheels keep turning. There are far more politicians who have been infected than you would have by statistical chance politicians are overrepresented in the number of people being diagnosed. 4. In these testing times it was good to get some sound think you dont it was so in the week we sought out some perspective from one of the worlds leading thinkers for nouns levine ian philosopher stuff like this the crisis to a wartime scenario but also emphasize the need for Meaningful International solidarity to. In previous cases people were thinking just about isolation and so on until one day i sure hope we are becoming aware that we kept cool in the unite that coordinate that way we are all the entire humanity in we seat in the same boat the big loser i think will be but he sadly nationality racist and so want within our country to isolate itself until of course we need to get an inch and like for example take europe we should act in a united through a shell pink tribe or we could rate their street in mosques what they would eat whatever is needed and go on and so on i think that. In this sense we should be shape reality in the middle of the military operation we should be im not here appealing to some kind of abstract sense of solidarity its even in our interest in germany now. They will get an Even Stronger probably epidemic and go on and to want so it can think obviously that it is something that is demand from us but he decides if we think as a rational. Step well get that big step back and reflect what this our mobile go through life how should we change it because we should be aware of why i dont think its not let me just go on galilee and in the work that a month it will be over baby in this epidemic. In the fall that i had that if the day me get out ive been a full article about it and so what it was i think that even when i think well go but it doesnt. It will not be the same normality as. We leave now were going to change our mode of life. Well choose day so the World Health Organizations europe direct to call our nations to take the strongest action possible to fight the pandemic lauding the example set by china. The experience of china and others show that this thing called tracing binds with social distancing measures and Community Mobilization when put in place quickly and effectively prevent infections and say lives as already mentioned in the Program China turned a corner of this week for a while anyway on wednesday recorded no new domestic infections for the 1st time since the outbreak began and that continued until earlier today we can report among 46 new declared cases all but one came from abroad chinas tough response to contain the spread of the virus had initially been heavily criticized along the way but as done a quarter reports next to many countries now home to adopt similar measures. Remember when only china had to deal with the coronavirus the west had plenty to criticize about beijings handling of the crisis back then when europe and the us didnt have to get their hands dirty tricks measures should also be implemented with consideration to the publics willingness to comply with government control efforts now that the critics are in the same situation that china was in just a month ago it seems like they werent creative enough to come up with their own solutions after the coronavirus ravaged europe governments across the continent started in forcing lockdowns people confined to their homes streets virtually empty just like in china at the height of the outbreak the. Gatherings family get togethers and social functions will no longer be finished it will king to meet friends in the park or on the streets will no longer be possible any elderly daredevils that venture out of their homes could face hefty fines or even a police baton and all the while militaries across the continent are mobilizing in switzerland its the biggest since world war 2 and in france army convoys are becoming a regular sight in the suburbs. To bomb front. Although its not like they have many places to go the entire European Unions closed its borders anyway and on top of that theyll be under the watchful eye of those dystopian Police Drones just like the chinese ones that frightened more than a few in the western media the country taking some extraordinary measures to contain this Outbreak Police are using drones equipped with a public address system to tell people to wear face masks and stay indoors to stop the spread of coronavirus and drones are flying up to people in public and yelling at them for not Wearing Mask