The European Central Bank is launching a new, expanded program to buy financial assets in a bid to calm markets as monetary authorities struggle to counter the devastation the virus outbreak is wreaking on the global economy.
The ECB said it could buy up to 750 billion euros ($820 billion) in government and private sector bonds as well as commercial paper by year end.
Whilst the government has budgeted an additional €35 million for the healthcare sector, Steward Health Care is being given more than double that amount this year, Opposition Leader Adrian Delia said.
"Steward Health Care is being given €70 million and Steward is not providing any form of return. Now is the time to provide all we can to our health care system. The government should increase the amount it spends on our health. This needs to be the biggest investment."
The Malta Chamber of Commerce, Enterprise and Industry regards the measures announced this evening by the Prime Minister as very disappointing. They certainly fall short of the responsible calls made by the Chamber to Government in a repeated fashion over the past two weeks. The Prime Minister declared that these measures were intended to protect jobs and ensure that employees suffer no reductions to their salaries. In reality, the Chamber can responsibly declare that the employees will be the biggest loser from the support package announced this evening. The Chamber is in a central position to make this claim because it is in touch with the needs and pains of business during these challenging times.
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The government has unveiled a €1.8billion package of measures to help businesses struggling to cope with the impact of the coronavirus.
It has also announced it will no longer accept applications for work from unskilled third-country nationals but that those currently working in Malta would be protected.
The Eurovision Song Contest has been cancelled for the first time in its 64-year history due to travel restrictions and uncertainty in the face of the continued spread of the coronavirus.
The cancellation was announced on Wednesday afternoon by the European Broadcasting Union, which produces the yearly show.
All vehicle licences that expire from the end of March 2020 onwards will remain automatically valid for the following months, as long as these vehicles are covered by a valid insurance policy. This notification will remain valid until further notice, Malta Transport said.
There will be no VRT tests for those vehicles which require it to extend their licence during this period as all VRT stations will close down immediately. Despite these measures, the authority emphasises the fact that a valid insurance policy is still required. Insurance intermediaries will issue the policy electronically.
