Emmanuel Macron crisis: President forced to delay huge £90bn coronavirus rescue deal

We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.

Mr Macron was due to unveil the multi-billion euro fund aimed at restarting the recovery this month. The coronavirus recovery package will now be released in the first week of September. Businesses in the country had eagerly awaited to hear the Government’s plan but will now wait until next month as Mr Macron focuses on reopening schools instead.

Government spokesman, Gabriel Attal said: “The recovery plan is ready, the timetable for its implementation still stands.”

Schools in France are due to open on September 1 despite fears of a second wave of the virus rising.

Currently, the country has recorded 234,400 cases with a further 30,503 deaths at the time of writing.

Due to the fears of a second wave of the virus, France was placed on the UK’s quarantine watch list last Friday.

According to the European Centre for Disease and Prevention Control, France now has 54.4 cases per 100,000 people.

That is one of the highest 14-day cumulative numbers across the continent, with only Spain (152.7), Romania (88), Luxembourg (96.3) and Malta (119.5) having higher rates.

Combined with high case total, the French economy also suffered one of its worst contractions in history earlier this month.

According to official statistics, France experienced a 13.8 percent contraction in the second quarter of this year.

JUST IN: EU insight: Charles Michel’s ‘NUCLEAR plan’ in case of Macron’s exit

In a further blow to the economy, exports declined to 25.5 and 17.3 percent in May and June.

Amid the escalating situation in France, Mr Macron declared a coronavirus vaccine could soon be ready.

Speaking at a press conference with German Chancellor, Angela Merkel, he praised the cooperation of the EU states.

The French President said: “We have improved European cooperation on the vaccine together, by associating many other States and the Commission.

Coronavirus map LIVE: COVID-19 ‘going to be with us forever’ [Live blog]
World on the brink: Beijing issues dire warning over US missile plan [Update]
UK economy boost as sales surge to pre-pandemic levels [Insight]

“And to ensure that we will have the capacity to produce them and deliver them to our populations when they are available.”

Amid the race for a vaccine, the European Commission has announced a deal for 225 million doses of a possible drug.

The EU agreed the deal with German company, CureVac on Thursday.

Likewise, Russia claimed to have produced the first licensed vaccine which will be sent to 40,000 people for continued trials next week.

The UK has also signed a deal for up to 90 million potential doses from Belgium’s Janssen and US biotech company, Novavax.

There are now six experimental drugs being developed for the UK.

Source: Read Full Article