Hello that was Headline News 247 this is our international. Break welcome to the program u. S. Stock market suffered its worst trading day since 1907 with share prices tumbling by 13 percent on monday the coronavirus pandemic is causing turmoil on Financial Markets worldwide despite drastic action from Central Banks to limit the damage discussed whats driving the selloff with our senior correspondent. Well theres only one way this is going and it is going down look at yourself in a matter of weeks the Dow Jones Industrial average this is this is an average of many major corporations so an index of their stocks the average it is plunged to levels that we saw that the world was out in 2070 so over the course of a few weeks weve raced all economic progress made over the last 3 years and this is still early days yet i mean the pandemic in the United States it is predicted to get much much worse essentially what were seeing is the equivalent of a run on banks so if a bunch of people right on by scene are trying to get their money out this is what investors are doing now with the stock markets with the stock markets in the United States and. Their reaction has been so far to come out and say theyre obviously trying to avoid inciting panic theyre trying to calm everyone down and theyre pulling the money out of thin air billions and billions 700000000000 that they announced in Financial Measures which is quantity of easy which is a bailout which is its essentially printing money pulling it out of thin air and giving it to bags the whole point of this is to keep keep banks running what is a bank to bank has money what does it do with this money doesnt sit on it it gives it out so you give it gives it out to you youre a business youre a mortgage owner you get all this money and heres the bag it has hardly any left suddenly all these. Debtors all these that is come to the bank and say look we want our money back the bag doesnt have any money i mean youve got all the money you pay every month you pay every month the situation were in now is the entire industry is collapsing while manufacturing italy is on lockdown and the banks rule exposed to this so nobodys paying the banks of the back of the banks com pay the eventual. You know the people who invest that money in a bag how this is affected markets around the world 1st it was china they shut everything down and this was you know this was the 1st wooden bell because this would this is a knock on effect the entire World Economy is interconnected a small bag somewhere in chicago has ultimately an interest in keeping things running in china because see it own stock in apple apple produces its ruins in china so then surely theres no phones being produced in china. New for new phones being sold so the bank takes a loss ultimately its all a knock on effect with genius across the entire world more quantitative easing and rate cuts theyre going to keep rates of this is this is to stimulate borat to stimulate bags to give out more loans on top of loans that are being paid back so that we can at least pretend that things are going on as as usual we have these fiscal measures out there and theyre very powerful i mean the sum total as well over 800000000000. 00 from our forward this is it is sort of kicking the ball down the road. All this money the more than a trillion if if though those 800. 00 a printer to get more than a trillion dollars that people are going to have to pay back this is banks this is ultimately borrowers that are going to have to pay back all this huge amount of money but theres no alternative. Is to watch the entire thing crash and burn and the europeans especially worried about it we support our companies we support the small and Medium Enterprises and above all we support people we support them in their jobs we support them with their income losses so right now the focus is on strengthening our economies and investing what ever is necessary to have the economy going on further in the future looks very blue. Because you will have hundreds hundreds of millions of people all around the world sitting at home without jobs and entire interests industries at a standstill but everyone has to eat you know their loans to pay there are responsibilities that must be attended so its anyones guess uncertainty how this is going to go uncharted territory and theyd how we also sounded out economist Richard Wolfe who thinks confidence is slipping in government and that it could spell a disaster on a par with the Great Depression because lots of the markets today down 10 percent roughly here in the United States in new york city where im sitting is a clear very profound statement that the entire Investment Community which is not the small people who have a few shares im talking about the people who manage Pension Funds who manage bank what follows 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 after a cut in the Interest Rate last week and even bigger double the size cut this week and the announcement of stimulus plans we do not see a recovery a turnaround we see that these are interpreted as signs that this situation is out of control and i think you see that in the Business Community you see it in the mass of the working class you see it in average people everywhere are we are out of soap in our supermarkets we are experiencing the kind of meltdown that you associate with events like the Great Depression of the 1000 birds and the World Health Organizations announced that the global death toll from the corona virus is now overtaken chinas ground 0 for the deadly outbreak. In the past week we have seen an amputee skull luzhin of cases of course 19. More cases and have now been reported in the rest of the word than in china according to the latest estimates deadly cases for a round the rest of the world have now outstripped china by around 600. 00 approximately 16000. 00 more people have been infected around the globe compared to the total number in china where the Virus Outbreak was 1st reported on monday beijing announced that it was sending additional experts to help tackle the pandemic in italy the 1st team arrived in rome last week with tons of medical aid including masks and respirators its been reported that if anything you have allies have refused to help saying they need to stockpile essential for their own citizens dr packing one a senior lecturer in International Relations of barking diversity in the u. K. Explain to us why china stepping in to help italy. To china italy has a very special crease because italy was the 1st country who signed a one bill one rule agreement so i believe as italy has already the extent that how we quest to china china has taken it very seriously and cement off the entire 40 did ask help from the youll however it didnt work thats why italy has to ask for help from china. Are the european. States members who experience all know or is crisis and i believe that the Chinese Government would also be willing to extend help cement offer its the core no waras ulbricht its not will not do china is also this to be Major Economies in europe and in north america as well as disrupting all these Global Supply trends saw i believe we are actually already only her into recession. Spread of covert nineteens taking its toll on big Decision Makers too with the sickness striking down many in the corridors of power a growing number of lawmakers falling at least causing concern over how effectively governments will be able to coordinate their responses to the outbreak. 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. So. Then all the uncertainty and unknown of all this its easy to get a bit worked up so we thought wed get a sound ahead onto it we spoke to the celebrated slovenian philosopher about the pandemic hed like in the crisis to wartime scenario and emphasized the need for Meaningful International solidarity. In previous cases people were thinking just about isolation and so on until one day i shook we are becoming aware that we cant go in there unite that coordinate that way we are all the entire humanity in we seat in the same bug the big loser i think will be pretty sally and nationality racist and to 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 them straight in mosques what they would eat what their bodies need that and go on and so on i think that. In this sense we should be shaping riyadh in the middle of that military operation we should be im not here appealing to some kind of abstract sense of solidity even in our interest in germany now thats a look at it they may get an Even Stronger probably epidemic and go on and to want so it can think obviously that the east some think that demand from us but he decides if we think as a national. 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 gollum really and in talk that he months it will be over baby in this epidemic. In the fall that i bet if the day may get out i think its an article about it and so what it was i think that even when things go well that it doesnt normally it we did not beat the same normality as denver might be because we leave it now were going to change our mode of life. Well here in russia the number of confirmed coronavirus cases is approaching a 100 and a few hours ago the government announced a temporary ban starting on wednesday on almost all foreign nationals entering the country colton looks at the other measures being put in place. Russias corona virus infections have jumped to 93. 00 people only 7 of which were actually infected within the borders of russia the vast majority came from abroad and the whole situation has really set off alarm bells with officials moscows now banned public gatherings of more than 50 people until april 10th schools and universities will also be closed by the end of the week for about just under a month but students will be able to continue their studies over the internet now russias also decided to close its border with neighboring bella ruse to halt the spread of the virus as for russian nationals returning from the u. S. In europe theyll be confined to self quarantine for 14 days president putins also already ordered the creation of a new group within the state council to address nationwide mobilization against the spread of the corona virus and starting tomorrow special volunteers will be sent to all of russias virus stricken regions to help the most vulnerable the elderly to get through this difficult time but most of all moscow wants to make sure that a panic doesnt occur and its assuring everyone that they need to stay calm while many countries are implementing aggressive measures to contain infections the British Governments been shopping criticized over its perceived lack of action some of the latest concerns came after the countrys chief scientific advisor mentioned going down the route of socalled immunity and other words infecting more than half the u. K. Population. In terms of building up a unity within the u. K. Well i mean what sort of percentage of people need to have contracted the virus probably about 60 percent of the countrys Health Secretary matt hanko claim to deny that achieving community is u. K. Government policy a case in britain. Now surged to beyond 1500. 00 with 55. 00 people dead as a result of petitions being launched calling for schools to be closed across the country the government also stated that it plans to ban large events after delaying on the decision additionally the u. K. s Health Secretary has said that people aged over 70 could be isolated for up to 4 months we asked people in london what they think about the governments high risk approach to tackling the pandemic. And its probably true if you take your view i dont really describe how the 1st project responsible should you believe what you. Already knew so we put at risk for a situation like this i can see the argument doing that but really i can also see the n. T. Say were going to you know push it out of people to get that virus if we make sense weve come down to date. Which scared to justify this but weve got to carry on living. Overseas i dont say that far this is a peak into about 10 weeks time so thats when i will get really concerned what we dont know yet is full range of data and evidence that we would need to know whether or not we do become immune to this virus possibly. Its a great strategy possibly wrong so i. Dont know but nobody seems to be giving this old the range of thinking so one year my told lee is an associate professor of Infectious Disease modeling at the university of warwick in the u. K. Has been explaining to us why its slowing down the epidemic is so crucial. To your 3rd immunity is that when enough people have been in fact he finds a virus then. The epidemic will eventually die out so essentially what were still trying to do is were trying to control the outbreak so were trying to put in interventions that will delay the peak of the epidemic and also reduce the size reduce the height of the epidemic. The point is that a certain number of people would be infected then it could no longer in fact any more people because the sensually people had all their contacts and been infected and so it reduced to a low enough level that the epidemic would die out is the risk to we know that the over seventys and particularly the eightys. Because they may have Underlying Health conditions are more risk some obviously you want to protect those. Those people in the population which is why these sorts of measures are being considered its really important now that we keep up these good hygiene practices that have been recommended we keep the necessary isolation and quarantine policies. And the crucial thing here is to reduce the demands on the Health Service to make sure that those people that really do need hospital cat have access to it. The other stories were across this hour the leader of israels blue and White Party Benny Gantz has accepted an official request from the president to try and form a Coalition Government it comes after the longtime rival of Benjamin Netanyahu was endorsed by a majority of lawmakers in the knesset following a 3rd inconclusive election in under a year the gerund discuss the prospects of a new government with our correspondent in tel aviv. What does this mean for Benjamin Netanyahu. Well its certainly not good news i mean hes going to be hoping that theres going to be a 4th round of election hes also very surprised because he was the one who actually won these elections and. Particularly from his voting bloc was that he would be the one to form the next Coalition Government what are the chances that guns can become the next pm look at this stage they seem quite small hes facing 2 main problems the 1st problem is that hes formed a coalition between our parties and a right wing Political Party belonging to a former army defense minister Avigdor Lieberman they are not natural allies so youll just have one issue that will be wrapped in the 2 sides will fall apart guns also faces threats from 2 members of his own party who say that because hes formed this coalition they are going to withdraw and if they withdraw he wont have the 61 majority that he needs at this stage however the countrys president weve been living in has tossed guns with forming the next government or at least trying to pick the law gives you 28 days beginning tomorrow to form a government this is a short amount of time but given the current circumstances of national and International Crisis even this is too long. I will do whatever it takes to form within a few days as possible national petri arctic and broad government so if guns doesnt manage to form a Majority Coalition one next. Well then theyre going to be for the elections and the question here for everyone is how do you hold elections when you have the coronavirus epidemic at the same time israelis are really fed up weve already had 3 elections here in the space of one year and its costing the country a fortune but that will be the ultimate solution or at least the next step. And if it goes through a 4th round of elections would that benefit nicer yahoo or guns it will probably benefit netanyahu because we have really seen a lot of criticism from the guns camp he campaigned on a ticket where he said he would not have anything to do with the right wing Political Party they now have come on board and they complained on the ticket saying they have no. Thing to do with the arabs and here you see them forming some kind of alliance so that that kind of support is going to be lost also done city wouldnt have any kind of relationship with the extreme of parties a party called balad and he is having a relationship he needs them for the 61 coalition so people are likely to say the next time around hang on can we really trust guns can we really trust the coalition that hes going