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Europe’s Tough Debt Dilemma, Trade Tensions Return: Eco Day

Cold War Warning, Relying on Science, Trade Tensions: Eco Day

(Bloomberg) -- Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week:

  • Europe’s leaders may be united on the need to throw money at economies during the coronavirus crisis, but they have yet to confront how to pay for it all.
  • Russia faces years of economic stagnation as demand for its carbon-heavy exports gradually drops.
  • Boston Fed chief Eric Rosengren said he expects companies to begin receiving money through the central bank’s long-awaited Main Street Lending Program within two weeks.
  • U.S.-China trade tensions are back: Global Economy Week Ahead
  • The U.S. should give up its “wishful thinking” of changing China, Foreign Minister Wang Yi said, warning that some in America were pushing relations to a “new Cold War
  • As sections of the global economy tip-toe toward reopening, it’s becoming clearer that a full recovery from the worst slump since the 1930s will be impossible until a vaccine or treatment is found
  • The U.S. jobless rate may still be in the double digits when President Donald Trump stands for re-election in November
  • China’s plans to raise its debt level to stimulate demand and combat the economic effects of the pandemic are feasible and necessary, a senior official at the top economic planning agency said. But the government is holding some stimulus measures in reserve in case the pandemic worsens, economists say.
  • In Australia’s tropical north, Kate Agrums was hopeful her river-cruise business would get an influx of tourists eager to spot crocodiles when the coronavirus lockdown began easing. But that’s unlikely. Meantime, a Senate committee will call in Treasurer Josh Frydenberg to explain how the government overestimated a jobs-rescue package to the tune of A$60 billion ($39 billion)
  • With South Africa’s economy in freefall, the government will allow most businesses to reopen next month even as coronavirus infections continue to mount heading into winter

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