And Senior Writer for the american prospect, good sunday morning. Thank you for being with us on cspan, we appreciate it. My pleasure. Let me begin with the frontpage headline of the Washington Post as congress gambles to work on a stimulus deal now approaching close to 2 trillion which is an unprecedented amount for congress. Your thoughts on whats to transpire over the next couple hours and days . It is unprecedented. This is an unprecedented situation. Weve never had a situation where we basically ground the entire American Economy to a halt all the sudden. With every other recession we had there mightve been some kind of a shock that precipitated it but it still unfolded over somewhat of an extended period of time where you could see it coming. This really happened all at once. You have this huge shock to the system and that has led congress to say that we really need to do something of a scale that we havent done before. Right now the two democrats and congress through publishing
Is your Business Model for us in berlin welcome to global stocks are seeing a slight rebound from mondays brutal trading sessions coronavirus and the steep drop in oil prices durham a big concerns for investors but there are signs that some are reconsidering just how concerned they should be or prices were up by roughly 4 percent on tuesday to put that into perspective that follows mondays 30 percent plunge in prices due to a dispute between all producing nations stock markets in asia also all steadied on tuesday saying in hong kong the Shanghai Exchange in china and the nikkei in tokyo all closing with gains expectations that the u. S. Federal reserve might cut Interest Rates again help fuel that positive sentiment and that optimism extended to the opening of european markets where both germanys dax index and londons footsie both started with gains now help explain the recovery and discuss what might lie ahead and joined by our financial correspondent Chelsea Delaney in frankfurt and
Markets followed suit both germanys dax and londons footsie making nice gains today the italian stock exchanges well looking somewhat better but italy has announced the equivalent of a nation wide lockdown to talk more about that chelsea de laney is standing by for us in frankfurt. Tell us about the effects then on the eurozone considering whats happening to the euro zones 3rd biggest economy. Well for italy this a lot of economists say this basically guarantees a recession expectations for italys g. D. P. This year were basically flat there was expected to be no growth and these containment measures are going to have a Significant Impact on the economy what the government has said so far is that people can still go to work if they need to Public Transit is still open in some cities but this is obviously going to head you know travel tourism retail all sorts of industries and it could certainly push italy. Into recession but what this means for the broader eurozone is really going to b
Announced the equivalent of a nation wide lockdown to talk more about that chelsea de laney is then by force in frankfurt. Tell us about the effects then on the eurozone considering whats happening to the euro zones 3rd biggest economy. Well for italy this a lot of economists say this basically guarantees a recession expectations for italys t. T. P. This year were basically flat there was expected to be no growth and these containment measures are going to have a Significant Impact on the economy what the government has said so far is that people can still go to work if they need to Public Transit is still open in some cities but this is obviously going to head you know travel tourism retail all sorts of industries and it could certainly push italy into recession but what this means for the broader euro zone is really going to be determined by what happens to other euro zone countries and in terms. Spread of the virus germany for example is also dealing with the surge of corona virus c
Markets followed suit both germanys dax and londons footsie making nice gains today the italian stock exchanges well looking somewhat better but italy has announced the equivalent of a nation wide lockdown to talk more about that chelsea de laney is standing by for us in frankfurt. Tell us about the effects then on the eurozone considering whats happening to the euro zones 3rd biggest economy. Well for italy this a lot of economists say this basically guarantees a recession expectations for italys t. T. P. This year were basically flat there was expected to be no growth and these containment measures are going to have a Significant Impact on the economy what the government has said so far is that people can still go to work if they need to Public Transit is still open in some cities but this is obviously going to head you know travel tourism retail all sorts of industries and it could certainly push italy. The recession but what this means for the broader eurozone is really going to be