China’s Retirement Home Industry is Plagued by Ponzi Schemes

Rooms and beds for retirees are in short supply as the population ages, leaving many vulnerable to companies pitching risky investments.

#china, #elder-care, #elderly, #families-and-family-life, #finances, #frauds-and-swindling, #nursing-homes, #population, #real-estate-and-housing-residential, #retirement-communities-and-assisted-living

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New York City’s Arts and Recreation Employment Down 66%, Report Says

The New York State comptroller’s office details the effects of the pandemic’s devastation and says a full recovery would be made only with government assistance.

#coronavirus-reopenings, #culture-arts, #dancing, #dinapoli-thomas-p, #finances, #labor-and-jobs, #museums, #music, #new-york-city, #new-york-state, #politics-and-government, #quarantine-life-and-culture, #shutdowns-institutional, #theater, #theaters-buildings, #wages-and-salaries

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A Donor’s Ties to Epstein Are Criticized at MoMA and Dartmouth

Ai Weiwei and other artists say the investor Leon Black should step down as MoMA’s chairman amid revelations that he paid $158 million to Jeffrey Epstein.

#ai-weiwei, #apollo-global-management, #art, #black-leon-d, #dartmouth-college, #epstein-jeffrey-e-1953, #finances, #goldin-nan, #human-trafficking, #lowry-glenn-d, #museum-of-modern-art, #museums, #nonprofit-organizations, #philanthropy, #quarantine-life-and-culture, #sex-crimes, #steyerl-hito-1966

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Second City Is Sold to Private Equity Group

The comedy company has faced intense criticism over race and had committed to restructuring. The new owner, ZMC, said it would not abandon this plan.

#appointments-and-executive-changes, #black-people, #comedy-and-humor, #finances, #johnston-steve-entertainment-executive, #mergers-acquisitions-and-divestitures, #quarantine-life-and-culture, #second-city, #zelnick-strauss, #zelnickmedia-corp-zmc

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Closed Nearly a Year, Empty Museums in Los Angeles Struggle

While many museums around the country have resumed operations, those in Los Angeles remain an exception. They have been shut since March.

#academy-museum-of-motion-pictures, #art, #coronavirus-risks-and-safety-concerns, #finances, #govan-michael, #hammer-museum, #los-angeles-calif, #los-angeles-county-museum-of-art, #museums, #quarantine-life-and-culture, #san-francisco-museum-of-modern-art

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Facing Deficit, Met Considers Selling Art to Help Pay the Bills

Like many museums, the Met is looking to take advantage of a relaxation of the rules governing art sales to care for collections.

#art, #auctions, #coronavirus-2019-ncov, #finances, #hollein-max, #metropolitan-museum-of-art, #museums

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Everything’s a Joke Until It’s Not

Reddit communities grow powerful in plain sight. Why do they keep taking the world by surprise?

#4chan, #finances, #gamestop-corporation, #reddit-inc, #stocks-and-bonds

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Taking GameStop ‘To the Moon’: Reddit vs. the Elites

This insurgency against the hedge funds isn’t an unequivocal populist win. For some, the point and the money already made is victory enough.

#crowdsourcing-internet, #finances, #gamestop-corporation, #united-states-politics-and-government

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Europe’s Bankruptcies Are Plummeting. That May Be a Problem.

Governments have extended national programs to keep troubled businesses afloat, but the aid may only be postponing a painful reckoning.

#bankruptcies, #coronavirus-2019-ncov, #economic-conditions-and-trends, #finances, #france, #paris-france, #restaurants

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Why It’s So Hard to Cut Waste in Health Care

During the pandemic, people have been getting less medical treatment. That saves money, but it could harm their health, an economist says.

#coronavirus-2019-ncov, #finances, #health-insurance-and-managed-care, #hospitals

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Art Basel, Swiss Centerpiece of the Trade’s Year, Is Postponed

Dealers were looking to the event as a bellwether for a return to normality in the art world.

#art, #art-basel-festival, #art-basel-hong-kong, #art-basel-miami-beach, #auctions, #basel-switzerland, #conventions-fairs-and-trade-shows, #coronavirus-2019-ncov, #finances, #quarantine-life-and-culture, #spiegler-marc

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Entrepreneurs Bet Big on Immersive Art Despite Covid-19

For-profit experiential art centers are investing hundreds of millions of dollars in a business where audiences have evaporated because of the pandemic.

#art, #coronavirus-2019-ncov, #finances, #fotografiska-manhattan-ny-museum, #meow-wolf-art-collective, #museums, #quarantine-life-and-culture, #superblue-holdings-pbc, #teamlab-art-collective

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San Francisco’s Top Art School Says Future Hinges on a Diego Rivera Mural

The University of California is aiding the San Francisco Art Institute, but S.F.A.I. officials say selling a $50 million Rivera could save the school. Former students are outraged.

#art, #boards-of-directors, #budgets-and-budgeting, #colleges-and-universities, #finances, #levy-pam-rorke, #murals, #quarantine-life-and-culture, #rivera-diego, #san-francisco-calif, #san-francisco-art-institute, #university-of-california

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One Hospital System Sued 2,500 Patients After Pandemic Hit

The largest health system in New York, led by a close ally of the governor, continues to sue over medical debt during the Covid-19 crisis, even after other big hospitals suspended lawsuits.

#coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #cuomo-andrew-m, #dowling-michael-j-1949, #finances, #hospitals, #new-york-state, #northwell-health, #suits-and-litigation-civil

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Pope Francis Strips Powerful Vatican Office of Its Financial Assets

A financial scandal involving the secretariat of state has given fresh impetus to Francis’ reform agenda.

#becciu-giovanni-angelo, #finances, #francis, #pell-george-1941, #roman-catholic-church

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Neverland Ranch Is Sold for $22 Million

Ronald W. Burkle, the billionaire co-founder of the investment firm Yucaipa Companies, bought the ranch for a reported $22 million.

#amusement-and-theme-parks, #burkle-ronald-w, #child-abuse-and-neglect, #finances, #jackson-michael, #neverland-ranch, #pop-and-rock-music, #real-estate-and-housing-residential

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A ‘Great Cultural Depression’ Looms for Legions of Unemployed Performers

With theaters and concert halls shuttered, unemployment in the arts has cut deeper than in restaurants and other hard-hit industries.

#actorsfund-of-america, #american-federation-of-musicians, #culture-arts, #dancing, #finances, #koh-jennifer, #labor-and-jobs, #music, #quarantine-life-and-culture, #shutdowns-institutional, #stimulus-economic, #television, #unemployment

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What Will Become of a Tycoon’s Art Gems?

It’s the art world’s new guessing game: Will Sheldon Solow’s paintings and sculptures, conservatively valued at $500 million, be heading to a private museum or to auction?

#acquavella-galleries, #art, #arttactic-ltd, #auctions, #botticelli-sandro, #christies, #collectors-and-collections, #finances, #fonssagrives-solow-mia, #giacometti-alberto, #heller-leila-gallery-manhattan-ny, #income-tax, #manhattan-nyc, #metropolitan-museum-of-art, #picasso-pablo, #solow-sheldon-h

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This Is the Health System That Biden Inherits From Trump

With medical spending down for the first time in decades, gains in care for the poor and vulnerable are under threat.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #finances, #health-insurance-and-managed-care, #hospitals, #income-inequality, #preventive-medicine, #trump-donald-j

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French Soccer Faces Reckoning After TV Deal Collapses

The sudden collapse of a billion-dollar television contract has created a serious cash crisis for French clubs as the January transfer window nears.

#bein-sports-llc, #canal-plus, #finances, #france, #ligue-1-soccer, #mediaproduccion-slu, #soccer, #television, #trades-sports

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A Single Senator Dashes Hopes for Latino and Women’s Museums — For Now

Senator Mike Lee, Republican of Utah, blocked the creation of Smithsonian museums honoring women and Latinos, warning they would worsen societal divides.

#cornyn-john, #feinstein-dianne, #finances, #hispanic-americans, #lee-michael-s-1971, #menendez-robert, #murkowski-lisa, #national-mall-washington-dc, #national-museum-of-the-american-latino, #politics-and-government, #united-states-politics-and-government, #women-and-girls

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Actors Sue SAG-AFTRA Health Plan Over Changes in Insurance

Ed Asner, a seven-time Emmy winner, is the lead plaintiff in the lawsuit filed in Los Angeles on Tuesday; it includes nine other participants.

#actors-and-actresses, #asner-ed, #coronavirus-2019-ncov, #discrimination, #elderly, #finances, #health-insurance-and-managed-care, #los-angeles-calif, #quarantine-life-and-culture, #sag-aftra, #sag-aftra-health-plan, #suits-and-litigation-civil, #television

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Nearly a Third of U.S. Museums Remain Closed by Pandemic, Survey Shows

An industry group says that the financial state of the country’s museums “is moving from bad to worse.”

#american-alliance-of-museums, #coronavirus-2019-ncov, #coronavirus-reopenings, #finances, #layoffs-and-job-reductions, #lott-laura-l, #museums, #quarantine-life-and-culture, #san-diego-natural-history-museum, #united-states

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Leon Black Calls Relationship With Jeffrey Epstein a ‘Terrible Mistake’

Mr. Black, the billionaire chief executive of Apollo Global Management, said others’ continued association with Mr. Epstein had given him “misplaced comfort” in doing business with him.

#apollo-global-management, #black-leon-d, #company-reports, #epstein-jeffrey-e-1953, #finances, #museum-of-modern-art, #private-equity

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U.S. Imposes Sanctions on Qaeda Financier Who Trades in Gems

The action shows that the U.S. government remains concerned about how extremist groups like Al Qaeda and the Islamic State continue to creatively raise and distribute money around the world.

#al-qaeda, #embargoes-and-sanctions, #finances, #islamic-state-in-iraq-and-syria-isis, #talib-ahmed-luqman, #terrorism, #treasury-department, #united-states-politics-and-government

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U.S. Budget Deficit Hit $3.1 Trillion Amid Virus Spending Surge

A surge in spending, combined with falling tax receipts have sent the deficit soaring, complicating plans for additional stimulus.

#federal-budget-us, #federal-taxes-us, #finances, #mnuchin-steven-t, #stimulus-economic, #unemployment, #united-states-economy, #us-dollar-currency

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What a $300,000 College Might Cost a $200,000 Family

More need-based financial aid is available for the affluent than you might expect.

#college-board, #colleges-and-universities, #finances, #financial-aid-education, #personal-finances, #rice-university, #tuition

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Baltimore Museum to Sell 3 Blue-Chip Paintings to Advance Equity

As museum staffs demand social justice in the office, an institution sells off prime works to answer the call. Is this the right way to do it?

#art, #assn-of-art-museum-directors, #auctions, #baltimore-md, #baltimore-museum-of-art, #bedford-christopher, #black-people, #budgets-and-budgeting, #coronavirus-2019-ncov, #finances, #marden-brice, #museums, #sirmans-franklin, #sothebys, #still-clyfford, #walker-darren-1959, #warhol-andy

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Coronavirus Relief Fund Raises Nearly $20 Million for Artists

Creative professionals can receive $5,000 grants through the end of the year, thanks to additional funding by the Mellon Foundation and others.

#academy-of-american-poets, #alexander-elizabeth-1962, #art, #artadia, #artist-relief-fund, #coronavirus-2019-ncov, #creative-capital-foundation, #dancing, #finances, #foundation-for-contemporary-arts, #hardly-strictly-bluegrass, #map-fund, #mellon-foundation, #music, #national-youngarts-foundation, #philanthropy, #quarantine-life-and-culture, #theater, #united-states-artists

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Many Hospitals Charge More Than Twice What Medicare Pays for the Same Care

The gap between rates set for private insurers and employers vs. those by the federal government stirs the debate over a government-run health plan.

#finances, #health-insurance-and-managed-care, #hospitals, #medicare, #patient-protection-and-affordable-care-act-2010, #prices-fares-fees-and-rates, #rand-corp, #regulation-and-deregulation-of-industry, #research, #united-states-politics-and-government, #your-feed-healthcare

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Brooklyn Museum to Sell 12 Works as Pandemic Changes the Rules

Museums selling their art has long been frowned upon, but recent financial pressures have sent works to the auction block at Christie’s. The proceeds would pay for the care of the collection.

#art, #assn-of-art-museum-directors, #auctions, #brooklyn-nyc, #brooklyn-museum, #christies, #corot-jean-baptiste-camille, #courbet-gustave, #finances, #museums, #pasternak-anne, #quarantine-life-and-culture, #storr-robert

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Pandemic Has Cut Modern and Contemporary Gallery Sales 36%, Report Says

The survey, by Art Basel and UBS, analyzes the effect of the coronavirus on the world’s art dealers. Sales are down, but the wealthy are still buying.

#art, #art-basel-festival, #art-basel-hong-kong, #coronavirus-2019-ncov, #e-commerce, #finances, #frieze-art-fair, #layoffs-and-job-reductions, #mcandrew-clare, #shutdowns-institutional, #switzerland, #ubs-group-a-g

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Is Taxing the Rich the Answer to N.Y.’s Budget Deficit?

Democrats searching for a revenue source to spare needy New Yorkers from pandemic-caused cuts have an unexpected opponent: The governor.

#biaggi-alessandra, #coronavirus-2019-ncov, #cuomo-andrew-m, #finances, #income-inequality, #letters, #new-york-city, #stewart-cousins-andrea, #taxation

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Less Music, More Trash: Cities and States Line Up Billions in Cuts

With lawmakers in Washington at odds over sending more aid, local officials are slashing funding for everything from orchestra subsidies to composting to education.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #cuomo-andrew-m, #democratic-party, #federal-aid-us, #finances, #local-government, #mcconnell-mitch, #moodys-investors-service-inc, #republican-party, #states-us, #trump-donald-j, #united-states-politics-and-government

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A Rare Economic Bright Spot in the U.S. Health System: The Vet’s Office

Usually during an economic downturn, people tend to spend less on health care for pets. This time, the opposite is happening.

#cats, #coronavirus-2019-ncov, #dogs, #finances, #pets, #quarantine-life-and-culture, #recession-and-depression, #veterinary-medicine

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Major U.S. Health Insurers Report Big Profits, Benefiting From the Pandemic

Consumers are probably entitled to millions of dollars in rebates under Obamacare rules that cap companies’ profits.

#aetna-inc, #anthem-inc, #blue-cross-and-blue-shield-assn, #cigna-corporation, #company-reports, #coronavirus-2019-ncov, #customer-relations, #cvs-caremark-corporation, #finances, #health-and-human-services-department, #health-insurance-and-managed-care, #hospitals, #patient-protection-and-affordable-care-act-2010, #presidential-election-of-2020, #rebates-and-refunds, #stocks-and-bonds, #united-states-politics-and-government, #unitedhealth-group-inc, #your-feed-healthcare

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The Metropolitan Museum of Art Lays Off Dozens More Workers

The Metropolitan Museum of Art told its staff that it was laying off 79 employees and announced 181 furloughs and 93 voluntary retirements.

#art, #coronavirus-2019-ncov, #finances, #hollein-max, #layoffs-and-job-reductions, #metropolitan-museum-of-art, #museum-of-fine-arts-boston, #museums, #philadelphia-museum-of-art, #wages-and-salaries, #weiss-dan-1977

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Where a Little Mortgage Goes a Long Way

Affordable homes can be hard to buy because lenders don’t make much money on small loans. But programs to encourage homeownership can help buyers build wealth.

#affordable-housing, #banking-and-financial-institutions, #black-people, #finances, #hispanic-americans, #louisville-ky, #mortgages, #race-and-ethnicity, #real-estate-and-housing-residential, #urban-institute

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Why Hunger Can Grow Even When Poverty Doesn’t

The two issues are linked, but during the coronavirus pandemic the relationship is not always simple.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #finances, #food, #food-banks-and-pantries, #food-insecurity, #food-stamps, #illegal-immigration, #immigration-and-emigration, #income, #poverty, #recession-and-depression, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government, #wages-and-salaries

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Covid Pandemic and Recession Hurt Nonprofits as Need Surges

Even as the economic crisis creates new demand for their services, organizations with millions of workers are resorting to layoffs as revenues dry up.

#budgets-and-budgeting, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #finances, #layoffs-and-job-reductions, #nonprofit-organizations, #philanthropy, #shutdowns-institutional, #united-states-economy, #young-mens-christian-assn-ymca

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London’s West End Comes Out of Lockdown. For an Afternoon.

On Thursday, 640 theatergoers attended the first West End performance since March. But some producers say further shows are unlikely until social distancing ends.

#andrew-lloyd-webber, #beverley-knight, #coronavirus-reopenings, #finances, #london-england, #palladium-theater, #politics-and-government, #quarantine-life-and-culture, #society-of-london-theater, #theater

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Patient, Can You Spare a Dime?

Hospitals are increasingly soliciting donations from patients, and the patients don’t much like it, a new survey finds.

#bribery-and-kickbacks, #doctors, #ethics-and-official-misconduct, #finances, #high-net-worth-individuals, #hospitals, #jagsi-reshma, #johns-hopkins-university, #journal-of-the-american-medical-assn, #philanthropy, #united-states, #university-of-michigan

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With Tourists Gone, St. Patrick’s Cathedral Pleads for Help

The Manhattan landmark is struggling to pay its bills while the pandemic keeps visitors and Midtown workers away.

#churches-buildings, #coronavirus-2019-ncov, #coronavirus-reopenings, #fifth-avenue-manhattan-ny, #finances, #income, #shutdowns-institutional

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The Fate of Trump’s Financial Records

In a stunning defeat for the president, the Supreme Court ruled against his claims that he was immune to an examination of his finances.

#federal-taxes-us, #finances, #house-of-representatives, #personal-finances, #property-taxes, #supreme-court-us, #trump-donald-j, #united-states-politics-and-government

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Museum of the City of New York: Reduced but Reopening

After layoffs, furloughs and salary cuts, the museum prepares to reopen with a reduced budget and will present an exhibition about the pandemic.

#coronavirus-reopenings, #finances, #layoffs-and-job-reductions, #museum-of-the-city-of-new-york, #museums, #new-york-historical-society, #whitney-donhauser

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She Survived the Coronavirus. Then She Got a $400,000 Medical Bill.

Patients who were treated for the virus are largely supposed to be exempt from receiving large bills.

#coronavirus-2019-ncov, #federal-aid-us, #finances, #health-insurance-and-managed-care, #janet-mendez, #mount-sinai-medical-center, #new-york-city

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You Now Get Almost Nothing for Your Money, but It Could Be Worse

In this crisis, money is priceless, yet banks and money market funds will pay you close to zero in interest for years. That’s if everything turns out well.

#asset-allocation-personal-finances, #banking-and-financial-institutions, #blackrock-inc, #crane-peter-g, #credit-and-debt, #federal-deposit-insurance-corp, #federal-reserve-system, #fidelity-investments, #finances, #interest-rates, #money-market-accounts, #mutual-funds, #nonprofit-organizations, #pensions-and-retirement-plans, #prices-fares-fees-and-rates, #regulation-and-deregulation-of-industry, #stocks-and-bonds, #subprime-mortgage-crisis, #t-rowe-price-group-inc, #vanguard-group-inc

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The Metropolitan Opera Cancels All Fall Performances

Many artists have not been paid since March at the company, which hopes to return on New Year’s Eve after its longest interruption in over a century.

#coronavirus-2019-ncov, #finances, #gelb-peter, #layoffs-and-job-reductions, #metropolitan-opera, #music, #opera, #shutdowns-institutional, #unemployment

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Putin Speaks, Officials Shrug, and Doctors Are Caught in the Middle

A botched effort to reward people keeping the coronavirus in check leaves doctors and nurses who demand their due facing scrutiny.

#coronavirus-2019-ncov, #doctors, #finances, #politics-and-government, #putin-vladimir-v, #russia

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Could the Coronavirus Bring Europe Back Together?

After three months of chaos and deaths caused by the pandemic, the continent, led by Germany and France, is giving convergence another try.

#berlin-germany, #china, #coronavirus-2019-ncov, #europe, #european-central-bank, #european-commission, #european-union, #finances, #france, #germany, #great-britain, #greece, #italy, #lagarde-christine, #le-monde, #merkel-angela, #paris-france, #politics-and-government, #propaganda, #quarantines, #unemployment, #united-states, #wages-and-salaries

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