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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Italy's economy minister said Monday that the government intended to deliver a "very strong injection of liquidity" into the financial system to generate 340 billion euros ($380 billion) in cash flows. Roberto Gualtieri announcement came as the government unveiled the details of a 25-billion-euro rescue designed to shield families and businesses from the fallout of the coronavirus pandemic. COVID-19 has killed more than 1,800 people in the Mediterranean country and has forced Prime Minister Giuseppe Conte to close most businesses for at least two weeks. Neither Gualtieri nor Conte explained how much money was being injected into the financial system or how their estimate of 340 billion euros in cash flows was derived. It represents roughly 20 percent of Italy's entire gross domestic product. The Italian rescue provides "a very strong injection of liquidity into the credit system that can mobilise around 340 billion (euros) in loans to the real economy, with suspension of loan and mortgage repayments," Gualtieri said. He did not specifically mention bond purchases or other measures associated with most economic stimulus plans. "To cope with this great emergency, we will release around 25 billion euros for the benefit of the Italian economic system and activate the flows of 350 billion euros," Conte said. Gualtieri later revised the figure down to 340 billion euros. Specific details included spending 10 billion euros "to support employment and workers" and another 3.5 billion euros to help the healthcare system. Gualtieri did not mention how the government intends to offset the partial suspension of some tax payments and employee contributions until June. He said Rome "counts on European funds" to support some of its measures. Families can also apply for permission to suspend their mortgage payments if business shutdowns caused by the pandemic threaten their livelihoods. Conte dubbed the rescue the "Italy Cure" plan. zak/rl
schema:headline	Italy says plan to deliver 340-bn-euro economic punch
schema:mentions	Zak Dingle Mediterranean Sea Prime Minister of Italy Rome Mortgage loan Giuseppe Conte Gross domestic product Italy Pandemic Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 Gualtieri Roberto Gualtieri Market liquidity
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-16 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	77 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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