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Italy Shuts Factories as Daily COVID-19 Death Toll Nears 800

Aramagedon

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TEHRAN (Tasnim) - Italy on Saturday (Mar 21) shut all non-essential factories after recording another record coronavirus toll that brought its fatalities to 4,825 - over a third of the world's total and a grim reminder that the pandemic remains out of control.



"The decision taken by the government is to close down all productive activity throughout the territory that is not strictly necessary, crucial, indispensable, to guarantee us essential goods and services," Prime Minister Giuseppe Conte said in a dramatic late-night TV address.

The 55-year-old Italian leader stressed that groceries and pharmacies would remain open and did not spell out what "indispensable" companies were.

"We will slow down the country's productive engine, but we will not stop it," Conte said, Channelnewsasia reported.

Italy has notched a rapid succession of records that seemed unimaginable when a retired Italian builder became the first person in Europe to die of the new illness exactly a month ago.

The Mediterranean nation of 60 million on Thursday overtook China as the global epicentre of COVID-19.

It then registered another 1,420 deaths on Friday and Saturday that took its total higher than that reported by China and third-placed Iran combined.

Italian health officials looked stony-faced as they read out the latest bad news in a daily update on the country's deadliest and most transformative crisis since World War II.

National Health Institute (ISS) chief Silvio Brusaferro urged the elderly to stay in doors at all times because the average age of Italy's victims was 78.5.

"If you do not follow all the (government) measures, you make everything more difficult," Italy's top medical expert said.

"If you do, we can make this outbreak slow down."

But the Italian government appears intent on making more or less everyone stay in doors as much as possible at any cost.

Police squads in Rome were checking documents and fining those outside without a valid excuse.

Those who were out shopping were forced to wait in line at the entrance to make sure the store was filled with only a handful of people at a time.

Those who were out jogging were asked to limit their runs to laps around the block.

And those who were out for a walk were fined if they broke the rules and wondered into a park or stopped to take pictures of historic scenes of a city without any people.

Conte's government is betting that this approach - and its accompanying concession that the economy will suffer extraordinary short-term pain - will ultimately prevail.

The problem for Conte is that it is not working yet. The number of COVID-19 infections rose Saturday by 6,557 to 53,578.

This is yet another record that beat one set only the day before.

https://tn.ai/2228233
 
Coronavirus will have terrible consequences for global economy in general and Italian economy in particular.

Goldman Sachs predicts 24% US GDP decline in April-June---largest GDP contraction in US history (on a yearly bases, US GDP will contract by 3% in 2020)
https://markets.businessinsider.com...rus-recession-goldman-sachs-2020-3-1029018308

JP Morgan says 14% US GDP decline in second quarter of 2020----largest in US history
https://www.cnbctv18.com/economy/us-economy-could-shrink-14-next-quarter-says-jp-morgan-5513021.htm

Deutsche Bank predicts largest recession since WWII with US GDP declining by 13% next quarter.
https://markets.businessinsider.com...covery-global-deutsche-bank-2020-3-1029012757

This is even worse economic decline than if Iran would have closed the Strait of hormuz--- or comparable to that.

Because of global recession, oil prices will go down and oil exporters will have big economic losses. But this is not a problem for Iran, because Iran has already experienced catastrophic decline in oil revenues due to sanctions.
 
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Poetic justice would be Iran producing the vaccine and selling them for 1 cent each, but still forcing them to transfer the money through swift to all the sanctioned banks! It would be a great moment for exposing the double morale in the world!
 
With US recession, Trump's reelection prospects are gloomy
 
23 March----

Seems like China has nearly defeated coronavirus, while Italy has the largest number of active cases
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