Russia’s Stimulus, Asia PMI Slump Deepens, Japan Cash: Eco Day

(Bloomberg) -- Welcome to Monday, Europe. Here's the latest news and analysis from Bloomberg Economics to help you start the week:

• Facing the worst recession in more than a decade, Vladimir Putin looks to roll out a massive stimulus package to rival other major economies, though even that is seen falling short of what's needed
• Haunted by harsh austerity in the global financial crisis aftermath, Estonia is set to end the continent's greatest aversion to borrowing
• Europe's fiscal fragmentation may be inflicting an extra fee for euro membership onto indebted southern countries, underscoring the case for the region's new recovery fund
• In Europe and elsewhere, the pandemic has opened the door to ideas new and old for a better economy
• Protests are raging in U.S. cities that are still suffering from pandemic-induced lockdown; the American economy could see a Great Depression-like jobless rate in its employment report Friday
• Purchasing managers' indexes show Asia's factories remain in the doldrums, with China slipping back in May and South Korea's export slump deepening, even as parts of Southeast Asia could be bottoming
• Japan's companies unexpectedly grew their cash in the first quarter, stashing an equivalent to roughly 89% of GDP
• Data across vehicle sales, credit-card activity and other gauges show how the April lockdown has hurt South Africa's economy
• A feud between President Bashar al-Assad and his cousin is laying bare the catastrophic state of the war-ravaged country's finances

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