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Merkel, Breaking German ‘Taboo,’ Backs Shared E.U. Debt to Tackle Virus Merkel, Breaking German ‘Taboo,’ Backs Shared E.U. Debt to Tackle Virus
(32 minutes later)
BRUSSELS — Faced with economic calamity and the threat of the coronavirus further fracturing the European Union, Chancellor Angela Merkel of Germany on Monday broke with decades of German economic orthodoxy and agreed to back the idea of collective European debt to help those countries that have been hit hardest by the pandemic.BRUSSELS — Faced with economic calamity and the threat of the coronavirus further fracturing the European Union, Chancellor Angela Merkel of Germany on Monday broke with decades of German economic orthodoxy and agreed to back the idea of collective European debt to help those countries that have been hit hardest by the pandemic.
If the other member states agree to the plan, it would be a major step toward a more unified Europe, and a sign that the pandemic might actually bring the bloc closer together instead of splintering it.If the other member states agree to the plan, it would be a major step toward a more unified Europe, and a sign that the pandemic might actually bring the bloc closer together instead of splintering it.
Ms. Merkel joined with President Emmanuel Macron of France to propose borrowing 500 billion euros, or $545 billion, for a common recovery fund. Its repayment would be the financial responsibility of the entire bloc, but it would primarily benefit the poorer south, which has been hit hardest by the virus.Ms. Merkel joined with President Emmanuel Macron of France to propose borrowing 500 billion euros, or $545 billion, for a common recovery fund. Its repayment would be the financial responsibility of the entire bloc, but it would primarily benefit the poorer south, which has been hit hardest by the virus.
Such a joint approach to borrowing has long been resisted by Germany and other member states in the north, and that reluctance has proved an obstacle to further European integration.Such a joint approach to borrowing has long been resisted by Germany and other member states in the north, and that reluctance has proved an obstacle to further European integration.
In recent years, the European Union has been battered by a series of challenges that have shaken its foundations, from the migrant crisis to the exit of Britain from the bloc. Now, the pandemic is further dividing it, prompting border closures within the bloc and severely damaging the economies of member states.In recent years, the European Union has been battered by a series of challenges that have shaken its foundations, from the migrant crisis to the exit of Britain from the bloc. Now, the pandemic is further dividing it, prompting border closures within the bloc and severely damaging the economies of member states.
Southern states have been turning to Brussels for help and pushing better-off countries like Germany and the Netherlands for less selfishness and greater collective action. Back home in countries like Italy, where many feel abandoned by their neighbors, anti-European and populist sentiment has spiked markedly.Southern states have been turning to Brussels for help and pushing better-off countries like Germany and the Netherlands for less selfishness and greater collective action. Back home in countries like Italy, where many feel abandoned by their neighbors, anti-European and populist sentiment has spiked markedly.
In the face of this emergency, Mr. Macron said, Europe’s two big powers have agreed to try to patch the deepening cracks and pull the bloc together with “a real common strategy to supplement our European budget.”In the face of this emergency, Mr. Macron said, Europe’s two big powers have agreed to try to patch the deepening cracks and pull the bloc together with “a real common strategy to supplement our European budget.”
“This is a major step,’’ he said.“This is a major step,’’ he said.
Mujtaba Rahman, chief European analyst for the Eurasia Group, said, “It’s a European revolution — if it goes through,”Mujtaba Rahman, chief European analyst for the Eurasia Group, said, “It’s a European revolution — if it goes through,”
For the first time, Mr. Rahman said, Europe will be able to “raise money and transfer it directly to the countries, regions and industries most in need, without further impairing their economic situation by increasing their debt.’’For the first time, Mr. Rahman said, Europe will be able to “raise money and transfer it directly to the countries, regions and industries most in need, without further impairing their economic situation by increasing their debt.’’
Although the proposal represents a significant shift in German thinking, Ms. Merkel described it as a “one-off effort,’’ with Germany agreeing to a plan whereby the European Commission, using its excellent credit rating, would borrow money for the fund. The debt would be paid back over time through the joint European Union budget, which is financed by a set formula by member states.Although the proposal represents a significant shift in German thinking, Ms. Merkel described it as a “one-off effort,’’ with Germany agreeing to a plan whereby the European Commission, using its excellent credit rating, would borrow money for the fund. The debt would be paid back over time through the joint European Union budget, which is financed by a set formula by member states.
“We are experiencing the biggest crisis in our history,’’ Ms. Merkel said in a joint video news conference with Mr. Macron. “It is time to fight back. Germany and France are fighting together for the European idea.”“We are experiencing the biggest crisis in our history,’’ Ms. Merkel said in a joint video news conference with Mr. Macron. “It is time to fight back. Germany and France are fighting together for the European idea.”
She added: “Because of the unusual nature of the crisis we are choosing an unusual path.’’She added: “Because of the unusual nature of the crisis we are choosing an unusual path.’’
For Ms. Merkel, the proposal holds political risks at home, where it might bolster the far-right Alternative for Germany party, founded on a euroskeptic platform. That party is just beginning to stir back to life as the country reopens.For Ms. Merkel, the proposal holds political risks at home, where it might bolster the far-right Alternative for Germany party, founded on a euroskeptic platform. That party is just beginning to stir back to life as the country reopens.
But the move might also be the only way to salvage a deeply divided currency union and the chancellor’s legacy on European unity.But the move might also be the only way to salvage a deeply divided currency union and the chancellor’s legacy on European unity.
The proposal must be agreed to by the other 25 member states of the bloc, some of which have flatly rejected collective indebtedness in the past. Austria has already suggested that it and countries like the Netherlands want to help the afflicted states only with loans, not grants, as called for in Monday’s proposal.The proposal must be agreed to by the other 25 member states of the bloc, some of which have flatly rejected collective indebtedness in the past. Austria has already suggested that it and countries like the Netherlands want to help the afflicted states only with loans, not grants, as called for in Monday’s proposal.
“There is still work to do,” Mr. Macron acknowledged. “But it is a profoundly unprecedented step.”“There is still work to do,” Mr. Macron acknowledged. “But it is a profoundly unprecedented step.”
Details of the plan were scarce on Monday, but the leaders said that the money would be provided to the sectors of the economy and the regions the worst affected by the virus. That would include countries like Italy and Spain, whose borrowing costs are much higher than countries like Germany.Details of the plan were scarce on Monday, but the leaders said that the money would be provided to the sectors of the economy and the regions the worst affected by the virus. That would include countries like Italy and Spain, whose borrowing costs are much higher than countries like Germany.
Those receiving the funds would not be responsible for repaying them, Mr. Macron said. That would be the responsibility of the European Union as a whole through its joint budget.Those receiving the funds would not be responsible for repaying them, Mr. Macron said. That would be the responsibility of the European Union as a whole through its joint budget.
Both Ms. Merkel and Mr. Macron underscored that all the member states of the bloc must agree to the proposal, with the specifics of the plan to be worked out by the European Commission.Both Ms. Merkel and Mr. Macron underscored that all the member states of the bloc must agree to the proposal, with the specifics of the plan to be worked out by the European Commission.
But traditionally, any joint French-German agreement carries enormous weight inside the bloc, since they are the largest economies, and have even more influence now that Britain has left.But traditionally, any joint French-German agreement carries enormous weight inside the bloc, since they are the largest economies, and have even more influence now that Britain has left.
Criticism, if not outright opposition, is likely to emerge from the Netherlands, Finland, Sweden or Austria, considered fiscal hawks. In the past, they have often hidden behind Germany in opposing collective European bonds.Criticism, if not outright opposition, is likely to emerge from the Netherlands, Finland, Sweden or Austria, considered fiscal hawks. In the past, they have often hidden behind Germany in opposing collective European bonds.
The bold move by France and Germany was an attempt to resolve a deadlock faced by the commission and its president, Ursula von der Leyen, who has been struggling to come up with a European recovery fund that would get consensus. The commission said last week that it was unlikely to have a proposal ready for member states until May 27. Updated June 24, 2020
Updated June 22, 2020 Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles.
A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico.A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico.
The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.
The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.
So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested. The bold move by France and Germany was an attempt to resolve a deadlock faced by the commission and its president, Ursula von der Leyen, who has been struggling to come up with a European recovery fund that would get consensus. The commission said last week that it was unlikely to have a proposal ready for member states until May 27.
Mr. Macron, in a rare moment of modesty, noted that the commission would soon make its own proposals and said, “We hope that the French-German deal will help.’’Mr. Macron, in a rare moment of modesty, noted that the commission would soon make its own proposals and said, “We hope that the French-German deal will help.’’
Ms. von der Leyen said in a statement that she welcomed “the constructive proposal made by France and Germany” because it “puts the emphasis on the need to work on a solution with the European budget at its core.”Ms. von der Leyen said in a statement that she welcomed “the constructive proposal made by France and Germany” because it “puts the emphasis on the need to work on a solution with the European budget at its core.”
But then she added a sharp word of caution and asserted her role, saying: “This goes in the direction of the proposal the commission is working on, which will also take into account the views of all member states and the European Parliament.”But then she added a sharp word of caution and asserted her role, saying: “This goes in the direction of the proposal the commission is working on, which will also take into account the views of all member states and the European Parliament.”
Mr. Macron called the Franco-German proposal “a real change in philosophy.”Mr. Macron called the Franco-German proposal “a real change in philosophy.”
“We are proposing to do at the European Union level what we are doing at the national level,” he said, adding: “I think that it is a very deep transformation, and it is what the European Union and the single market need to keep their coherence. It is what the eurozone needs to keep its unity.”“We are proposing to do at the European Union level what we are doing at the national level,” he said, adding: “I think that it is a very deep transformation, and it is what the European Union and the single market need to keep their coherence. It is what the eurozone needs to keep its unity.”
Analysts agreed that the proposal, if accepted, could represent a breakthrough.Analysts agreed that the proposal, if accepted, could represent a breakthrough.
“I think it’s quite significant,’’ said Guntram Wolff, a German economist who heads Bruegel, a Brussels think tank. “It is borrowing that will be repaid through the E.U. budget, and so it is the first genuine creation of long-term E.U. fiscal debt.”“I think it’s quite significant,’’ said Guntram Wolff, a German economist who heads Bruegel, a Brussels think tank. “It is borrowing that will be repaid through the E.U. budget, and so it is the first genuine creation of long-term E.U. fiscal debt.”
Henrik Enderlein, president and professor of political economy at the Hertie School of Governance in Berlin, said in a Twitter post that the proposal indicated that collective European debt, a long-held “taboo,” for German politicians, “could become reality.”Henrik Enderlein, president and professor of political economy at the Hertie School of Governance in Berlin, said in a Twitter post that the proposal indicated that collective European debt, a long-held “taboo,” for German politicians, “could become reality.”
This, Mr. Enderlein said, could signal a “Hamiltonian moment” for Europe. The federal assumption of state debt engineered by Alexander Hamilton played a crucial role in forming a collective identity for the United States in its early days.This, Mr. Enderlein said, could signal a “Hamiltonian moment” for Europe. The federal assumption of state debt engineered by Alexander Hamilton played a crucial role in forming a collective identity for the United States in its early days.
“What matters most today,’’ Enderlein went on, “is that France and Germany have agreed that in a crisis the E.U. can issue its own debt at a large scale. The political signal here is that the E.U. is more than a grouping of nation states and has its own federal identity.’’“What matters most today,’’ Enderlein went on, “is that France and Germany have agreed that in a crisis the E.U. can issue its own debt at a large scale. The political signal here is that the E.U. is more than a grouping of nation states and has its own federal identity.’’
Aurelien Breeden contributed reporting from Paris, and Katrin Bennhold and Christopher Schuetze from Berlin.Aurelien Breeden contributed reporting from Paris, and Katrin Bennhold and Christopher Schuetze from Berlin.