Madrid Alleges 18,000 Jobs Lost Each Week on New Virus Curbs

Sign up here for our daily coronavirus newsletter on what you need to know, andsubscribe to our Covid-19 podcast for the latest news and analysis.

New restrictions that took effect Friday evening to limit coronavirus infections will destroy 18,000 jobs and 750 million euros ($880 million) in revenue each week, Madrid’s regional government said in alawsuit filed the same day.

The administration is seeking to overturn a series of curbs imposed by the national government including closing bars and cutting restaurant capacity to 50%. The limits, which stop residents from entering or leaving 10 cities in the region including the capital, allow trips to work, taking children to school and medical appointments. Foreign visitors may still fly into Madrid.

The regional governmentadopted the new curbs while seeking a court injunction to suspend them, arguing that they were imposed without the required unanimous consensus of Spain’s 17 regions that are primarily in charge of health services.

79,476 in IndiaMost new cases today

-2% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23

-1.​032 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23

5.​3% Global GDP Tracker (annualized), Aug.

Spain has the fastest infection rate in the continent, which its government has blamed largely on family gatherings and social events, particularly among youth. Police broke up aparty last night in a Madrid suburb, with 200 attendees in a single house, for violating health rules.

Source: Read Full Article