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Business Daily

Business Weekly

Business Daily

BBC

Business

4.4816 Ratings

🗓️ 25 July 2020

⏱️ 50 minutes

🧾️ Download transcript

Summary

After the second-longest summit in the bloc's history, EU leaders agree a deal between themselves for a coronavirus economic recovery plan worth hundreds of billions of euros. But will it keep the so-called Frugal Four satisfied? And is now the time to reassess the health insurance industry in the United States? Plus, why Kenyan farmers have been hit by a drop in Muslim pilgrim numbers for the upcoming Hajj.

Transcript

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0:00.0

Hi, if a week is a long time in politics, a day is a long time in business at the moment,

0:06.1

and it can be exhausting trying to keep up with all the latest developments.

0:10.1

That's why we've interrupted your Business Daily pod feed to bring you Business Weekly,

0:14.4

a new weekend programme which brings you an hour of the most interesting, inspiring and thought-provoking stories you might have missed

0:21.7

from the BBC's business team.

0:27.7

Hello and welcome to Business Weekly with Lucy Burton. To date, there have been over 15 million

0:34.2

cases of the coronavirus worldwide, leading to over 600,000 deaths.

0:39.8

The virus has changed the way we all live and work, but has also focused our minds on the

0:44.4

future, on recovery and what our world could look like when the pandemic abates.

0:49.8

So on today's show, we'll be looking at how economies, healthcare systems, workplaces,

0:56.0

travel and the environment could change.

0:58.8

But we're going to begin by playing a little bit of Beethoven. Music Whoever has succeeded in the great attempt to be a friend's friend, add to his the jubilation.

1:22.9

So sing the lyrics to O To Joy, the anthem of the European Union.

1:27.3

And there was satisfaction,

1:28.7

if not jubilation this week, as EU leaders agreed an unprecedented relief package to enable

1:34.1

member states to rebuild their economies after the coronavirus pandemic. President Macron of France

1:40.0

said it was an incredibly positive outcome for the bloc. I believe that today with this summit, that not only has been one of the longest summits in history,

1:50.7

perhaps the longest, which is an even greater success after several months in which we have not met physically.

1:56.9

But above all, the conclusions of this summit are truly historic.

2:00.5

We have set up a capacity to borrow collectively to put in place a recovery plan for the first time.

2:06.5

Let's have a look at the numbers.

2:08.1

The Commission will dole out €750 billion, that's nearly $860 billion,

...

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