Brexit has been called an “unmitigated disaster” by food industry experts, as they told MPs about the impact of new trade arrangements.
Sector leaders told the International Trade Select Committee the cost of disruption hads already caused some businesses to shut their doors for good.
Ian Wright, chief executive of the Food and Drink Federation (FDF), told MPs on Thursday food exports have been cut by at least half since the start of January despite the deal.
He told the committee: “We agree with other trade groups that food exports to the EU have declined by 50 to 60 per cent in January.
“That may be because companies have stockpiled three or four months of goods on the other side of the Channel and they may bounce back, but that is a big number to recover in the next few months.”
He said he was “particularly concerned” about uncertainty among officials overseeing new trade checks.
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“This is not trivialising it, but in many cases they are making it up as they go along, because they don’t know what would happen with particular certificates,” he said.
Mr Wright also warned that the UK could be “50,000 customs agents” short of what is needed when import regulations are enforced from April.
Marine and fisheries consultant Terri Portmann told MPs that seafood businesses are already shutting amid the impact of Brexit disruption.
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“It has been an unmitigated disaster,” she said on Thursday.
“We have already seen seafood businesses who heavily relied upon an export market close their doors – companies that have been around for 30 to 40 years.
“And I suspect there are many more that are currently hanging on by their fingernails and going bankrupt slowly, because part of the problem is that with fresh seafood products, you can’t stockpile.”
Briefing UN Member States on Thursday, WHO chief Tedros Adhanom Ghebreyesus drew attention to a $27 billion financing gap in the ACT Accelerator, which supports the development and equitable distribution of coronavirus tests, treatments and vaccines globally.
“The longer this gap goes unmet, the harder it becomes to understand why, given this is a tiny fraction of the trillions of dollars that have been mobilized for stimulus packages in G20 countries”, he said.
Secondly, noting some bilateral deals, he called on all States “to respect COVAX contracts and not compete with them”.
And third, Tedros underscored the need for “an urgent scale-up in manufacturing to increase the volume of vaccines” with “innovative partnerships” to include tech transfer, licensing and “other mechanisms to address production bottlenecks”.
Meanwhile, as Africa marks one year since its first COVID-19 case, on 14 February, WHO revealed that last month, the continent had witnessed a 40 per cent surge in COVID fatalities – pushing the death toll there towards 100,000.
“The increasing deaths from COVID-19 we are seeing are tragic, but are also disturbing warning signs that health workers and health systems in Africa are dangerously overstretched”, WHO Regional Director for Africa Matshidiso Moeti said at a virtual press conference.
‘Grim milestone’
At the same time, in the last 28 days, over 22,300 deaths were reported on the continent – a 3.7 per cent fatality rise – compared with nearly 16,000 deaths in the previous 28 days, which reflected a 2.4 per cent increase, according to WHO.
This mortality spike comes as Africa’s second wave which began in October, seems to have peaked on 6 January, having spread significantly faster and proven far more lethal.
WHO maintained that second wave cases surged far beyond the peak experienced in the first wave and health facilities have become overwhelmed.
“This grim milestone must refocus everyone on stamping out the virus”, said Dr. Moeti.
New strain, new challenges
At the same time, new contagious COVID-19 strains are spreading rapidly as Africa gears up for its largest-ever vaccination drive.
The variant known as B1.351, which was first identified in South Africa, has now been detected in eight African States, while the mutation initially identified in the United Kingdom, called B1.1.7, has been found in six countries on the continent.
“This is obviously very disappointing news, but the situation is very dynamic”, said Dr. Moeti. “While a vaccine that protects against all forms of COVID-19 is our biggest hope, preventing severe cases which overwhelm hospitals is crucial”.
This week South Africa said it would pause the roll-out of the Oxford/AstraZeneca vaccine citing a study indicating that it is less effective in battling the country’s dominant B1.351 strain.
Coordinated approach needed
WHO says there is an “urgent need” for a coordinated approach to variant surveillance and more evaluation to help decipher the potential impact they may have on vaccine effectiveness.
“The pandemic is far from over, and vaccines are just one crucial tool in our fight against the virus. We must boost investments and support for our health workers and health systems by sticking to mask wearing, regular hand cleaning and safe social distancing”, said Dr Moeti.
The economic blow dealt by Brexit will be four times greater in the UK than the EU, according to the latest forecasts by Brussels.
A month into the new relationship, the European commission said the UK’s exit on the terms agreed by Boris Johnson’s government would generate a loss in gross domestic product (GDP) by the end of 2022 of about 2.25% in the UK compared with continued membership. In contrast, the hit for the EU is estimated to be about 0.5% over the same period.
Equivalent to lost economic output worth more than £40bn over two years, the commission said that although worse damage had been avoided thanks to the 11th-hour trade deal signed in December, substantial barriers to trade still remained and would come with a heavier cost for Britain.
“While the FTA [free trade agreement] improves the situation as compared to an outcome with no trade agreement between the EU and the UK, it cannot come close to matching the benefits of the trading relations provided by EU membership,” the commission said in its winter economic forecast.
Most mainstream economists have already forecast that Brexit will deliver a bigger hit to the UK economy than to the EU. However, the figures compiled by the commission mark the first official EU estimates made since the deal was agreed.
The forecast comes as the UK government comes under mounting pressure over delays to cross-border trade after a month of the new rules, with business groups warning that further disruption is expected as more new border checks come into force later this spring.
The deal agreed between London and Brussels included maintaining zero-tariffs – taxes on the sale of goods across borders – between the UK and the EU. However, businesses have faced additional costs and delays from new paperwork, customs checks and confusion over the new system.
The commission said the “trade shock” from these so-called non-tariff barriers amounted to the equivalent of a tax on imports worth 10.9% for the EU and 8.5% for the UK. It said there was a bigger impact on growth for countries with a higher share of goods trade with the EU – such as Ireland – and that the lack of a deal on services – which form 80% of the UK economy – would hurt the UK, as well as EU nations where doing service-sector business with Britain was more important.
However, it said the last-minute trade deal helped to reduce the negative effect by about a third for the EU and a quarter for the UK compared with a no-deal scenario and reverting to World Trade Organization terms.
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The winter 2021 economic forecast projects that the EU economy will grow by 3.7% in 2021 and 3.9% in 2022 as the impact of tougher lockdown measures at the start of 2021 give way to a vaccine-fuelled recovery later in the year. It said the EU economy should return to pre-pandemic levels in 2022, earlier than previously thought, but added that it would take longer for some nations than others.
The economies of Italy and Spain are not expected to return to pre-crisis levels until later than 2022, as countries with a higher dependence on tourism largely in southern Europe suffer from a slower return of international travel.
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p class=”css-38z03z”>The Bank of England forecasts growth of 5% in the UK in 2021 and 7.25% in 2022, with GDP returning to pre-Covid levels towards the end of the yearThis, it said, would be faster than the EU thanks to better progress in administering the Covid vaccine.
FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels, Belgium August 21, 2020. REUTERS/Yves Herman/File Photo/File Photo
BRUSSELS — The European Union is facing a surge in bankruptcies and bad loans once the post-pandemic economic recovery starts to take hold and governments begin withdrawing state schemes that are keeping many firms on life support, a EU document indicates.
The European Commission note, prepared for euro zone finance ministers’ talks on Monday, said that thanks to almost 2.3 trillion euros ($2.8 trillion) in national liquidity support measures, euro zone governments have so far staved off a rise in insolvencies.
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Without such help and new loans from banks, almost a quarter of EU companies would have had liquidity problems by the end of 2020 after exhausting their cash buffers because of the economic havoc wreaked by the COVID-19 pandemic, the note said.
“Once the unprecedented public support measures expire, a number of businesses are likely to default on their debt obligations, leading to higher non-performing loans and insolvencies,” said the note, seen by Reuters.
FEATURED STORIES
Almost half of all firms that would have had liquidity problems last year because of the pandemic were already at a high risk of default before the crisis, and were now being kept afloat only by government help. They were therefore likely to face solvency concerns after the crisis, the note said.
The ministers’ talks on Monday will focus on how to manage the process of weaning firms off state support in the future and how best to identify, with the help of private sector investors, which companies are viable and can survive.
“There is full agreement that fiscal support needs to be maintained for now, for quite a while,” a senior euro zone official involved in the preparation of the talks said.
“But there is also recognition that support may need to change shape, that there will need to be a gradual transition to more targeted support.”
The note said that in the third quarter of 2020, euro zone bank loans under moratoria totalled 587 billion euros, of which about 60% was corporate loans. In the second quarter the share of bad loans in the euro zone to total loans was 5.23%.
“Overall, the volume of non-performing loans is expected to rise across the EU, although the timing and magnitude of this increase remains uncertain,” the Commission said.
Fortunately, the stronger capital position of banks compared to the financial crisis a decade ago should help them to absorb the shock better this time, the Commission said.
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Worst affected were hotels and restaurants, where three-quarters had liquidity problems, but also transport, car makers, basic metals and textiles. Communication services, food and pharmaceuticals and computers and electronics fared much better.
Bad loan ratios
Problems with corporate liquidity are not yet reflected in bad loan ratios.
“While it is clear that the debt-servicing capacity of the private sector has been adversely affected by the pandemic, government credit guarantees and loan repayment moratoria have so far prevented a rise in loan defaults,” the note said.
“Thus, the headline NPL (non-performing loan) ratios – based on a rather stable NPL stock and the increasing loan denominator – do not yet reflect the underlying deterioration in the credit profile of borrowers,” the Commission said.
Of the almost 2.3 trillion euros in government liquidity measures at EU level, firms and households have taken up some 32% of the total, mostly in public guarantees, the note said.
To keep going despite the lockdowns, companies burnt through their cash reserves and borrowed money as well as making use of government help. Borrowing from banks surged the most in France, Italy and Spain, reversing 10 years of decline in corporate debt to banks, the note said.
The ministers will now have to figure out how to keep credit channels open to viable companies; surveys indicated that credit needs already exceeded availability in all euro-area countries.
The Commission said that, while euro zone banks had been generally strong going into the crisis, they now believed corporate and and economy-wide risks had increased.
“According to the ECB’s Bank lending survey, banks expect to further tighten credit conditions and raise collateral requirements,” the Commission said.
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(Image: Credit: NIAID-RML)This transmission electron microscope image shows SARS-CoV-2—also known as 2019-nCoV, the virus that causes COVID-19—isolated from a patient in the U.S. Virus particles are shown emerging from the surface of cells cultured in the lab. The spikes on the outer edge of the virus particles give coronaviruses their name, crown-like.
On her 117th birthday a French nun who survived both world wars, the 1918 flu pandemic, and a COVID-19 infection celebrated with a glass of wine, a Mass in her honor and dinner followed by a taste of baked Alaska.
Sister André, who is believed to be the second-oldest person in the world, spent Feb. 11 celebrating at her care home in the southern French city of Toulon, The Washington Post reported.
Lucile Randon, who took the name of Sister André in 1944, tested positive for coronavirus on Jan. 16 but didn’t develop any symptoms.
She told local media she “didn’t even realize I had it,” the BBC reported.
The European region’s director of the World Health Organization Dr. Hans Kluge paid tribute to the French nun at a press conference.
“A very Happy Birthday to Sister André…today a COVID-19 survivor.
“There’s a remarkable lesson to be learned from sister Andre, who during her illness, selflessly showed more concern for her fellow nursing home residents than for her own life.
“Look after each other and stay safe. Thank you.”
Asked if she was scared to have the coronavirus, Sister Andre told France’s BFM television, “No, I wasn’t scared because I wasn’t scared to die… I’m happy to be with you, but I would wish to be somewhere else – join my big brother and my grandfather and my grandmother,” Reuters reported.
“She kept telling me, ‘I’m not afraid of Covid because I’m not afraid of dying, so give my vaccine doses to those who need them,'” David Tavella , the spokesman at the Ste. Catherine Labouré nursing home in Toulon, where Sister André resides. told The New York Times.
“She’s recovered, along with all the residents here,” said Tavella.
BORN IN SOUTHERN FRANCE
Sister André was born on Feb. 11, 1904, in Alès, in the Occitanie region of southern France.
She grew up in a nonreligious Protestant family and worked at a young age as a governess in Marseille and a tutor in Paris, according to Le Parisien newspaper.
She converted to Catholicism at 19, and at 25, began working at a hospital.
For 28 years she took care of elderly people and orphaned children.
In 1944, she joined the Daughters of Charity to become a nun at the age of 40.
She took on the name Sister André in honor of her deceased brother, and in 2009, she moved to the retirement home, according to Le Parisien.
She isolated separately from other residents in her retirement home in Toulon, southern France, but is now considered fully recovered.
The facility’s spokesman, David Tavella, told the Associated Press Sister Andre is “in great shape” and “really happy.”
Her busy birthday schedule was to have included a video call with her family, a service hosted by the bishop of Toulon and a champagne birthday feast.
“It’s a big day,” Tavella said, noting that there would be a cake for Sister André — although it wouldn’t be big enough to hold 117 candles.
“Even if we made big cakes, I’m not sure that she would have enough breath to blow them all out,” he said.
Tavella said the menu would include foie gras, capon with fragrant mushrooms and some alcohol to toast the occasion.
“All of it washed down with red wine, because she drinks red wine. It’s one of her secrets of longevity. And a bit of Champagne with dessert, because 117 years have to be toasted,” he said to the AP.
In the weeks leading up to her 117th birthday, Sister André spent days isolated in her room at the Sainte Catherine Labouré retirement.
She was one of dozens of residents at the home who tested positive for the coronavirus.
But on Feb. 9 Sister André was declared recovered from the virus, a spokesman from her retirement home told Reuters, allowing her to hold on to her title as the oldest living European, according to Gerontology Research Group’s “World Supercentenarian Rankings List.”
“We consider her to be cured. She is very calm and she is looking forward to celebrating her 117th birthday on Thursday,” Tavella told Reuters earlier this week.
Ten others at the retirement home died of COVID-19, Le Parisien reported, after 81 of the 88 residents tested positive in January.
There have been more than 3.4 million cases in France and more than 80,000 deaths, according to The Washington Post’s COVID tracker.
80 per cent of the population in Yemen needs humanitarian support
Myanmar military has to hand the power back over to elected civil authorities
Humanitarian aid for Yemen must be increased, MEPs say, and urge the military in Myanmar to immediately reinstate the civilian government.
Parliament condemned in the strongest terms the ongoing violence in Yemen that has, since 2015, “degenerated into the worst humanitarian crisis in the world”. There can be no military solution to the conflict and the crisis can only be resolved sustainably through an inclusive Yemeni-led and Yemeni-owned negotiation process, stress MEPs in a resolution adopted on Thursday by 638 votes for, 12 against and 44 abstentions.
Calling on all parties to facilitate the rapid and unimpeded passage of humanitarian relief and other necessary goods to the population, MEPs point out that nearly 80 per cent of Yemenites— more than 24 million people — need humanitarian support, while 50 000 people are living in famine-like conditions. This figure is expected to triple by mid-2021.
All parties must urgently refrain from starving civilians as a method of warfare, MEPs stress, whilst pushing for targeted measures to be imposed against those taking part in acts that violate international humanitarian law.
Welcoming the EU’s pledge to triple humanitarian help for Yemen in 2021, MEPs urge the European Commission and EU member states to lead international efforts to urgently scale up humanitarian aid.
Myanmar: All those illegally arrested need to be unconditionally released
In a resolution on the situation in Myanmar, MEPs strongly condemn the military coup of 1 February and call on the military (Tatmadaw) to immediately reinstate the civilian government, end the state of emergency, and unconditionally release all those illegally arrested. The result of the general elections of 8 November must be respected and power handed back to the elected civil authorities.
MEPs note in this regard that “despite her failure to adequately condemn the human rights violations against Burmese minorities, Aung San Suu Kyi continues to be the symbol of the Burmese people when it comes to democratic aspirations and ambitions for a more just and democratic future”.
To guarantee the recognition and representation of all ethnic groups in Myanmar including the Rohingya, the new constitution must be drafted and implemented through a free and fair process, MEPs stress.
They welcome the extension of the 2018 EU sanctions against Tatmadaw military and officials responsible for human rights violations against the Rohingya population. and urge the Council to extend targeted sanctions to the entire leadership of Myanmar’s military, including all those involved in the coup.
Finally, Parliament calls upon the EU and its member states to foster international coordination to prevent any unauthorised goods from being illegally exported from Myanmar, specifically benefitting the military economically.
The resolution was adopted by 667 votes for, one against and 27 abstentions.
The Ugandan Government must end the repression of the opposition and civil society
The Rwandan authorities must explain the enforced disappearance of Paul Rusesabagina
The authorities in Kazakhstan must comply with international standards for elections
On Thursday, the European Parliament adopted three resolutions taking stock of the human rights situation in Uganda, Rwanda and Kazakhstan.
The political situation in Uganda
Parliament deplores that the 14 January general elections in Uganda were neither democratic nor transparent. MEPs also condemn the excessive use of force by the police and armed forces during the election and their growing interference in political affairs.
The resolution condemns the violence, continued harassment and systematic crackdown faced by political opposition leaders in Uganda, as well as the suppression of civil society. All those arrested and detained for participating in peaceful political assemblies or for exercising their right to freedom of expression and association must be released immediately and unconditionally and have their charges dropped, says the text.
Finally, Parliament reiterates that sanctions against individuals and organisations responsible for human rights violations in Uganda must be adopted under the new EU human rights sanction mechanism, the so-called EU Magnitsky Act.
The text was approved by 632 votes in favour, 15 against and 48 abstentions. See the full resolution here. (11.02.2021)
Rwanda: the case of Paul Rusesabagina
MEPs condemn the enforced disappearance, illegal rendition and incommunicado detention of Rwandan human rights defender, government critic and Presidential Medal of Freedom recipient Paul Rusesabagina, whose story was recounted in the 2004 film Hotel Rwanda.
Mr Rusesabagina, who is a Belgian citizen and a US resident, was forcibly transferred from Dubai to Kigali under unclear circumstances on 27 August last year. He only reappeared on 31 August at the headquarters of the Rwandan Investigation Bureau. He was initially charged with 13 offences, including financing terrorism, armed robbery and attempted murder. Some charges were later dropped, with those that remained relating to events that took place in the country’s Nyaruguru and Nyamagabe regions in 2018.
Parliament calls for an international investigation into this matter and expresses its deep concern about the violation of Mr Rusesabagina’s rights. MEPs urge the Rwandan authorities to allow him to undergo a fair and public hearing by a competent, independent and impartial tribunal applying international human rights standards, and grant him legal counsel of his choosing.
Given Mr Rusesabagina’s medical condition, MEPs call on the Rwandan Government to guarantee, under all circumstances, his physical and psychological well-being and access to proper medication.
The text was approved by 659 votes in favour, 1 against and 35 abstentions. It will be available in full here. (11.02.2021)
The human rights situation in Kazakhstan
Parliament urges Kazakhstan’s Government to act in accordance with its international obligations and to respect human rights and fundamental freedoms, as enshrined in its Enhanced Partnership and Cooperation Agreement with the EU.
MEPs note that Kazakhstan’s parliamentary elections on 10 January this year were described by the European External Action Service as a “missed opportunity” to demonstrate that political reforms have been implemented since the last elections. They also call on the Kazakh government to drop politically-motivated charges and end all forms of arbitrary detention, reprisals and harassment of human rights activists, religious organisations, civil society organisations, trade unions, journalists and political opposition movements.
People must be able to express their political, religious and other views freely, the text says, with Parliament calling on the Kazakh Government to amend the new law on peaceful assembly in order to guarantee this freedom. MEPs also urge the country’s authorities to immediately release and fully rehabilitate all political prisoners.
The text was approved by 598 votes in favour, 43 against and 52 abstentions. For additional information on the content, it will be available in full here. (11.02.2021)
The COVID-19 pandemic is exacerbating existing gender inequalities
The rise in domestic violence must be urgently addressed
Universal access to sexual and reproductive health and rights services must be guaranteed
MEPs assessed the progress made in women’s rights over the past 25 years and the many challenges still ahead, in a resolution adopted on Thursday.
More than twenty-five years after the Beijing Declaration and Platform for Action (BPfA) was adopted, MEPs regret that, although some progress have been made, no EU member states have fully attained the targets set in the text, as the 5th review of the BPFA published by the European Institute for Gender Equality in 2020 shows.
In the resolution adopted by 505 votes in favour, 109 against and 76 abstentions, MEPs also express deep concern regarding the current pandemic, which exacerbates existing gender inequalities, threatens to reverse the progress made until now, and could push 47 million more women and girls below the poverty line worldwide.
Eradicating gender-based violence
In order to tackle violence against women, MEPs reiterate their call to ratify the Istanbul Convention and urge the Commission to come up with an EU Directive to prevent and combat all forms of gender-based violence. The increase in domestic violence during the COVID-19 pandemic must be urgently addressed, they add, by providing protection services for victims, such as helplines, safe accommodation and health services.
Specific measures are also needed to eradicate cyber violence, including online harassment, cyberbullying and hate speech, which disproportionately affect women and girls.
Towards a more balanced gender representation in the economy
Parliament reiterates its call on EU member states to unblock the Women on Boards Directive, and pushes for EU targets, action plans, timelines and temporary special measures to move towards a balanced representation in all executive, legislative and administrative positions.
Adopting EU legislation to increase pay transparency would help to close the gender gap, MEPs stress, who regret that the Commission proposal on that issue has not yet been presented as planned.
Universal access to healthcare is a human right
MEPs are particularly worried by some retrogressive tendencies regarding access to health services in some EU countries. They notably condemn the recent de facto ban on abortion in Poland.
Access to family planning, maternal health services and safe and legal abortion services are key elements that guarantee women’s rights and save lives, they underline. Finally, MEPs also call for the universal respect for, and access to, sexual and reproductive health and rights services, as agreed in the Beijing Declaration.
Background
The Beijing Declaration was adopted by the UN at the end of the 4th World Conference on Women on 15 September 1995 to promulgate a set of principles on gender equality. The Platform for Action called for strategic actions in a variety of areas (economy, education, health, violence, decision-making, etc.).
Prime Minister Boyko Borisov said that he is very optimistic about the recovery plans which are financed by the European Commission. In a commentary on the latest interim economic forecast of the European Commission, Borisov pointed out:
“We can be optimistic. And it is no coincidence that today’s forecasts are already for higher economic growth in Bulgaria – nearly 3% for this year and up to 5% in the next. But I am convinced that, after so many people recovered from the Covid, we will be the first to come out of the pandemic. We are vaccinating at full steam!
Meanwhile, the EC published its winter economic forecast, according to which Bulgaria‘s GDP will grow by 2.7 percent this year. Weaker economic growth in the EU s forecast for only four countries – the Netherlands, Austria, Lithuania and Estonia, according to the European Commission’s ‘winter’ forecast
EUR 29 billion are allocated for our country from the European Union to patch up the damage and mitigate the consequences of the pandemic.
“That’s BGN 60 billion which will come to our country in the coming years, of which BGN 50 billion is in grants”, announced Prime Minister Borisov during a inspection of the construction and repair works on Trakia motorway.
For the first time the EU envisions for Bulgaria such a significant sum to help the country recover from the crisis caused by the pandemic. In the words of Prime Minister Borisov, this will ensure that whatever government there is after the elections the investment program of the state will not be halted.
Deputy Prime Minister Tomislav Donchev reports to the Prime Minister on our country’s progress in preparing Bulgaria‘s Recovery and Sustainability Plan. He pointed out that Bulgaria is among the countries progressing the fastest and this will make the money to be available to the business as quickly as possible. The new version of the Plan has already been published following public discussions and consultations.
“The good news is that new BGN 900 million is earmarked especially for the business in three funds, in addition to the BGN 800 million left from the first variant of the plan. We plan to make this money available as quickly as possible in Bulgaria – if possible as early as the middle of this year”, said Donchev.
The Deputy Prime Minister added that over the next five years Bulgaria will be able to double the volume of public investment in infrastructure, railways, digital connectivity, energy efficiency, but above all for direct investment in business.
