Spain has registered 2,002 people infected with the Coronavirus (COVID-19), according to the latest count from the country’s Health Department today, with the death toll rising to 47. Half of the infected are reported to be from Madrid, where 10 people have died from the disease in the last 24 hours (31 deaths so far).
The President of the Central European Bank, Christine Lagarde, has already warned that if EU countries don’t take ‘immediate and coordinated’ action, we could face a similar economic crisis to that of 2008.
The Italian government today has also announced funds of 25 billion euros to alleviate the country’s social and economic impact of the Coronavirus. This follows the EU Commission’s announcement yesterday to create a 25 billion euro fund to support healthcare, jobs and small businesses affected by the Coronavirus across EU states (as reported).
Earlier today the UK cut its interest rate by 0.5% – from 0.75% to 0.25% to help cushion the economy from the economic impact of the crisis.