As the world is going through chaos due to the COVID-19 coronavirus, the government of Italy has suspended payments for bills and mortgages to help make it easier for people temporarily put out of work as the Irish Times reports.
Italy will boost measures to soften the economic impact of the coronavirus such as suspending the need to pay household bills, the industry minister said on Tuesday, calling for the European Union to change its rules to allow more government spending.
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With the economy now widely expected to fall into deep recession, further upward revisions seem possible.
Mr Patuanelli said that among a first batch of measures, the government planned to suspend payments of bills, taxes and mortgages in order to ease pressure on small firms and households. Other steps would come later, he added. (source)
Italy has been hard hit by the virus, and barring any additional circumstances, it is good to see that a sort of temporary reprieve has been given to the common man.
In the US, I have seen great concern from many people that the closure of businesses and the natural non-payment of salaries will have detrimental effects on people, especially since most Americans live paycheck to paycheck and are unable to or can only save very little due to the current state of the economy.
The reaction to this virus is as strange as it is unnatural and seemingly without proportion, suggesting something much deeper than what it appears, such as I have noted, that being an attempt to crash the global economy.
Instead of buying toilet paper, it is the time to watch Europe, since as the current migration crisis is taking place, it could easily lead to dangerous political consequences.
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