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The European Commission on Wednesday proposed a €750 billion (about $826 billion) stimulus package to help the European Union recover from a recession brought on by the coronavirus pandemic. Paolo Gentiloni, the European commissioner for economy, described the stimulus package as a "European turning point to face an unprecedented crisis." The package would be the biggest in European history, far outstripping the post-World War II Marshall Plan. The European Commission said it aimed to fund its recovery plan by raising unprecedented sums through the financial markets. The euro gained 0.4%, to $1.10 in European trading. Visit Business Insider's homepage for more stories. The European...
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Germany's Lufthansa has been hit particularly hard by the pandemic, reporting losses of around $1 million per hour. The 67-year-old flag carrier relaunched in 1953 following the dissolution of its initial iteration after World War II.  During its tenure in the world's skies, Lufthansa has established itself as one of the world's leading premium brands.  The German government ultimately stepped in on May 25 to offer assistance in the amount of €9 billion (roughly $10 billion). Visit Business Insider's homepage for more stories. Germany's largest airline is in trouble.  Like most global carriers, Lufthansa has found itself bleeding money as its planes sit idle at...
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I was supposed to fly to Europe the night after President Donald Trump announced travel restrictions due to the coronavirus pandemic.  After the announcement was made, I began the long process of tearing down the trip and getting my money back, which was harder than expected and is still on-going two months later.  The pandemic revealed which airlines were financially responsible and which were less than enthusiastic to assist customers in the wake of a global health crisis.  Visit Business Insider's homepage for more stories. In the weeks leading up to a planned trip to Spain and Morocco in March, I was constantly...
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The US is withdrawing from the Open Skies Treaty, an international pact that allows countries to conduct observation flights over the territory of other member states on short notice to promote transparency. The US has accused Russia of violating the treaty by restricting flights and not upholding its obligations. In a 2018 letter, former Secretary of Defense Jim Mattis said that he felt the treat was "in our Nation's best interest" despite Russian violations. European allies and partners, including France and Germany, issued a joint statement Friday expressing "regret" at the US decision to withdraw. Visit Business Insider's homepage for more stories. European allies...
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Recent polling suggests Europeans are turning away from the US under President Donald Trump's leadership. Public opinion toward America has declined in major European countries since the start of the coronavirus pandemic. Seventy-six percent of Germans in a new poll said their view of America had deteriorated because of the crisis. Roughly equal numbers of Germans in the poll favored maintaining close relationships with China and the US in a head-to-head matchup. One poll last week found that just 2% of French people trusted Trump to provide world leadership. China is exerting growing political, diplomatic, and financial power across Europe. Visit Business Insider's...
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Sweden recorded the most coronavirus deaths in Europe per capita over the past week, according to data from Our World In Data, an online research publication based at the University of Oxford. Sweden never issued a formal coronavirus lockdown and has instead encouraged citizens to stay home when they're sick and maintain social distancing when in public. Johan Giesecke, Sweden's former chief epidemiologist who is now a health adviser to the World Health Organization, told Business Insider that while Sweden's relaxed policy had not yet been successful in curbing its COVID-19 outbreak, it would in the future. Visit Business Insider's homepage...
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Last Updated on Tuesday, 12 August 2008 16:50