London

THE European, US and other major stock exchanges have rallied from their nadirs on Monday, but there are fears that Italy is already in recession and that Germany, France and other eurozone economies are on the brink of one.

German, French, Italian and other finance ministers are expected to carry out fiscal measures to minimise the business pains from the Covid-19 virus. Both the European Central Bank and Bank of England have stated that they would provide liquidity to the markets and the hope is that banks will be encouraged to provide cheap loans for small businesses.