European countries are writing blank checks to save their economies from coronavirus [CNNMoney.com]
RENAULT SA UNSP/ADR (RNLSY)
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Source: CNNMoney.com
European countries are writing blank checks to save their economies from coronavirus London (CNN Business) European governments are writing blank checks to protect businesses and workers from the deep recession into which the global economy is sinking rapidly because of the coronavirus pandemic. France has so far taken the boldest approach, promising that no company will be allowed to fail as a consequence of the disease that has prompted businesses large and small to suspend operations. The government will guarantee hundreds of billions worth of loans, delay tax payments and suspend rent and utility bills for smaller firms. And the French state is ready to go further, nationalizing industries if necessary. "No French company, whatever its size, will be exposed to the risk of collapse," President Emmanuel Macron said in televised national address on Monday. The world's biggest carmaker is shutting down in Europe The ironclad commitment to business, part of a response
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