EU leaders will seek a coordinated response to the coronavirus after global markets plunged on Monday and Italy sealed off much of its industrial north, where six prisoners were killed in a riot over curbs on visits. Joining the global rout, triggered by a 22% slump in oil prices, Wall Street’s main share indexes dropped 7% and the Dow Jones Industrials crashed 2,000 points – which would be its biggest ever one-day ever if there is no recovery by the close.
European Union leaders will hold a teleconference to discuss their next moves, European Council president Charles Michel said, with one official saying the call was likely to take place on Tuesday.
“We need to cooperate in order to protect the health of our citizens,” Michel, who chairs EU summits, tweeted.
In little more than two weeks, the number of recorded coronavirus cases in Italy has surged to 7,375, with 366 deaths, the second-highest death toll after China’s, putting its health system under huge strain.
More than 110,000 people have been infected in 105 countries and territories, and 3,800 have died, the vast majority in mainland China, according to a Reuters tally.
Italian Prime Minister Giuseppe Conte said strict European Union borrowing limits should be loosened and the flexibility envisaged by EU budget rules should be used “in full”.
“Europe cannot think of confronting an extraordinary situation with ordinary measures,” he said.
Recent Comments