Itlay Prime Minister Conte: is crossing the wires and has said that they are "adopting even tougher measures to combat coronavirus."
Key notes
- Will no longer be "red zone", all of Italy will be under same condition.
- Conte says movement will be restricted all over Italy.
- People should not move other than for work and emergencies.
- All public gatherings will be banned.
- Decision needed to defend most fragile members of community.
- The right behaviour for people now is to stay at home.
- Sporting events including soccer matches will be suspended.
- Will sign decree immediately and measures effective from Tuesday morning.
- Public transport will remain operational.
- Considering slightly higher deficit than the 2.5% goal already requested to Brussels.
- Closure of schools, universities all over country extended to April 3.
FX implications
The Europan Central Bank meets this week and the fate in the euro stays in the hands of whether the ECB will take some pressure off the Federal Reserve to do all of the heavy lifting and cut interest rates in the face of a pending eurozone recession.
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