As financial markets undergo a major slump in response to the COVID-19 pandemic, central banks and governments around the world are releasing measures to support economies.
On Monday, the American Central Bank further cut interest rates to almost zero and launched a 700 billion stock purchase plan.
In Europe, Christine Lagarde's presidency at the European Central Bank is being debated, after her statements worried the coronavirus most-affected countries. Moreover, the European Union has recently taken the decision to prevent all flights from entering the Union's borders.
In Australia, the government does not secure the hearts of its citizens by announcing that in the near future many businesses will be forced to close and many Australians will lose jobs. In addition, 90% of Qantas airline's routes have been canceled, another blow to the economy after the bush fire season.
SBS Italian asked professor of finance at the University of New South Wales in Canberra Max Tani to analyse the current situation.
What we are facing is something different from the global financial crisis and even if the numbers are the same, the conditions and the modalities are different and the situation must be seen and evaluated as such.
