What Germany Did Right
Prognosis: Misconception
Bloomberg
4.1 • 838 Ratings
🗓️ 3 April 2020
⏱️ 16 minutes
🧾️ Download transcript
Summary
Italy has been among the hardest hit countries by coronavirus. An outbreak epicenter, Italy’s cases are at nearly 120,000 with over 14,000 deaths. It’s sobering evidence of how vicious the virus can be. And yet, just to the north, Germany seemed like it was escaping the worst of the outbreak by enacting widespread testing and taking the virus seriously earlier. With fewer cases and, until recently, a mortality rate that hovered under 1%, Germany appeared to be a model of how to successfully navigate the crisis. But now there’s some doubt about whether Germany is really a Covid-19 success story. Naomi Kresge reports.
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| 0:34.8 | Welcome to Prognosis. I'm Laura Carlson. It's day 24 since coronavirus was declared a global pandemic. Today, Germany has been seen as having a model government response to the pandemic. Some have compared it to countries like Italy, where the virus |
| 0:55.7 | spread like wildfire after governments took too long to act. But that comparison may be unfair, |
| 1:03.4 | and Germany's fate may be about to change. But first, here's what happened today. |
| 1:26.0 | House Speaker Nancy Pelosi scaled back her ambitions for Congress's next coronavirus stimulus package. |
| 1:32.0 | She wants to focus on making more direct payments to individuals and expanding loans to businesses. |
| 1:41.1 | On CNN today, she said she still cared about infrastructure, but would possibly leave that and other Democratic priorities for a later bill. |
| 1:48.8 | Pelosi said the $350 billion in the last stimulus meant meant to keep small business afloat for two months, |
| 1:50.2 | won't be enough. |
| 1:55.4 | She also said people would need an extension of the expanded unemployment benefits, |
| 2:01.0 | after data showed an unprecedented wave of new unemployment claims in the last two weeks. |
| 2:06.2 | So I'd like to go right back and say, let's look at that bill, let's update it for some other things that we need, and again, put money in the pockets of the American people. |
| 2:11.2 | Another direct payment extending, we had unemployment at six months in our bill. |
| 2:16.6 | It's four. Let's take it to six for the |
| 2:18.7 | unemployment so that people have that confidence. U.S. employment plunged last month. Offering a |
| 2:25.9 | first look at the devastation the coronavirus pandemic has already begun to reek on the once |
| 2:31.5 | strong labor market. Payrolls fell $701,000 from the prior month, |
| 2:37.0 | according to the Labor Department. That data mainly covers the early part of March, |
| 2:43.0 | before widespread shutdowns forced firms to lay off millions more workers. |
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