Introducing: The Rachman Review

·18 min·1 clip

Gideon Rachman reveals the Rachman Review is now free and pivoting to cover the international coronavirus crisis.

Gideon Rachman opens by announcing two changes to the Rachman Review: the podcast is now free from the FT paywall, and it will focus on the international aspects of the coronavirus crisis due to travel restrictions. He interviews Miles Johnson, the FT correspondent in Rome, first. Johnson describes the initial solidarity in Italy with balcony singing, but notes growing frustration as lockdown measures tighten, including bans on exercise and shortened supermarket hours. He cautiously notes progress in slowing infection rates, suggesting lockdown measures may be working with a lag. Johnson reflects on a surreal sense of déjà vu watching the UK approach lockdown, predicting similar hospital crises to Lombardy. He discusses Italy's weak economic position, with GDP still below pre-financial crisis levels and public debt over 150%, questioning if old financial models still apply. On politics, Johnson says Prime Minister Giuseppe Conte, initially seen as weak, has gained credibility through calm communication and calls for European fiscal measures like corona bonds. Regarding the EU, Johnson mentions Italy feeling abandoned, citing unmet requests for medical supplies and a gaffe by ECB President Christine Lagarde. He notes shifting political dynamics, with Lega leader Matteo Salvini's visibility dropping. Rachman then interviews Dan Dombey, the FT correspondent in Madrid. Dombey describes life under lockdown, with ambulance sirens constant and supermarkets under police guard, some products marked off with crime-scene tape. He explains Spain's political situation: a weak coalition government transformed into an all-powerful commissariat under the state of alarm, but tensions with regions like Catalonia persist. Dombey discusses Spain's pro-European stance but criticism of EU absence, with Prime Minister Pedro Sanchez calling for a European Marshall Plan and euro bonds. He highlights Spain's economic vulnerabilities, with 14% unemployment and reliance on tourism, advocating for expansive state spending. Rachman concludes by promoting back-catalogue podcasts and a listener survey.

As heard by us

A remote Europe briefing that tracks the pandemic as a political stress test.

The Rachman Review opens by turning to the international side of the coronavirus crisis and, with the FT paywall in view, moving into a remote exchange from London with correspondents in Italy and Spain.

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Why you'd press play

You get a grounded read on Europe as the coronavirus crisis starts reshaping politics.

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