Name: Coronavirus outbreak: Ottawa bracing for financial impact; 16 million Italians under lockdown
Uploaded: 2020-03-16T10:04:44.000Z
Duration: 6 min 4 s
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the worldwide economy is taking massive hits from this disease.

The International Air Transport Association predicts global airlines alone could lose up to $113 billion in sales Here at home, there could also be major economic impacts.

Michael Couture now on what the federal government could do ahead of this spring's budget.

It's not something you hear very often these days that Angela Minorities Travel agency.

The phone hasn't been ringing a spheres of cove it 19 and the actual virus spread.

This will be the straw that broke the camel's back.

I mean, this year, if this continues on, inevitably, there are people who can't survive through this.

Global tourism will take a hit if Cove in 19 can't be contained.

Tourism industry, which is worth about $102 billion according to the Tourism Industry Association of Canada.

A chunk of that loss will be in cruise ships.

The Port of Vancouver is a hub, but Saturday B.

C's health minister issued a strong warning against traveling on cruise ships and crews.

Companies are being forced to adjust with confidence program, so if you do book today and you're unsure.

For whatever reason, you could make an adjustment because things are changing day to day, so other sectors may not be as flexible.

And those are top of mind for the finance minister as he continues to craft a federal budget, which may include financial help for those affected by Cove it 19.

You know we have a strong fiscal position, so we're prepared in terms of the actual health risks, but with a strong position, fiscally so that we can actually take measures as needed as the facts come out.

But the conservatives disagrees, saying by running up large deficits in their first mandate, the liberal government is not prepared to deal with the new Corona virus or the rail blockades.

They eliminated the cushion long ago, and they've put us in a place of weakness and vulnerability as we face these two crises.

More no contends Canada is in a good position, pointing to the more than 30,000 jobs that were added to the economy in February.

But in an interview on the West block with Mercedes Stevenson, this senior economist at TD Bank says the finance minister is taking a narrow view of things.

We had a very soft end of last year business investment.

It's really failing to deliver for several years now.

Then you have other interruptions, real blockades, weather, things like that.

Now we're talking about really not a lot of growth growth.

Expect that to be a central theme when provincial and territorial leaders meet with the federal government at the end of next week in Ottawa.

It's an opportunity for all levels of government to discuss the response to Cove in 19 so far, and the next steps is the outbreak widens.

Italy's government has imposed strict quarantine measures on 1/4 of the population to slow the spread of covert 19.

Tonight, 14 provinces have been isolated, mainly in Italy's north.

The whole of Lombardy, its financial capital, Milan, and tourist hubs like Madonna and Venice all have travel bans.

The 16 million people stuck there can't get out, and no one can come in.

366 people have died in Italy, infections are spiking and the lock down is sparking widespread panic thousands try to flee south to escape being isolated.

Michael I spoke to a Canadian woman living in Italy about the confusion and the chaos.

On any given day, this Venice piazza would be packed the cafe's bustling and grand canal overflowing with tourists.

Instead, it stood as a stark example of how Hard Cove in 19 has hit Italy.

Every Sunday morning, for the first time ever, Pope Francis delivered his Sunday prayer via video link.

He admitted to feeling caged as he looked out the window to a crowd of a sparse few 100 where normally thousands congregate.

I think the Corona videos is an exaggeration, so I don't think I think that overdoing it so he should come out like it does every Sunday.

Frustration abounds, but Italy has seen more covert 19 cases than any other country in Europe.

It's strain has now been traced to a car parts manufacturer in Germany, and after weeks of trying to contain the virus, Prime Minister Decepticon Tae has announced unprecedented new restrictions affecting the areas around Milan and Venice.

Still more Fulton Delinda Jane's religion's way.

We're facing a national emergency, he said, before outlining how 16 million people.

Roughly 1/4 of the population would be quarantined for at least a month.

Alitalia has since announced it has suspended all flights to and from Milan and Venice.

Schools, gyms, museums and clubs are also closed, and anybody wanting to leave will have to get special permission.

Italians have also been told to stay one meter away from others and to refrain from shaking hands and greeting others with the customary kiss on the cheek.

The news leaked out before the official announcement, creating an overnight fear that saw many Italians try to get out before the roads were closed.

But the people down south are saying, Please don't come down south because you're gonna be infecting us.

So it's There's a lot of confusion and mass hysteria at this point.

The rules are unclear, or at least they're not being followed everywhere that it's gone this far speaks to Italy's desperation to contain the virus, but it remains to be seen if such dramatic measures can be enforced.