Olaf Scholz. Photo: FSHH. License: Pixabay
The German Federal Finance Minister Olaf Scholz promises companies in addition to tax lags also liquiditatives aids
The German Finance Minister Olaf Scholz and the German Economic Minister Peter Altmaier have today "Safety net for the economy" present, which should mitigate the consequences of the Covid-19 epidemic. In addition to one "Deferment of downy taxes" Customer Scholz also a state guarantee for loans to record companies at banks. This program will succeed "without limitation" start and should start "ensure the liquidity of the companies for the next few years". Here, so the SPD politician, will "Not rotted but clothed".
On Tuesday, the German Federal Government was only affected by reacting to the economic consequences of the corona crisis with a law on facilitated context of short-time working allowance, which still has to pass the Bundestag and the Federal Council. Several economists had criticized the day in a joint paper in a joint paper and warned against a recession, which of the German economy in the first half of 2020 despite the increased demand by hamster buying.
Global supply chains
A burden on the economy are their foresight, among others "Quotation", to which it comes when "Global supply chains" Epidemiebings are interrupted. An important role here plays the virusion country China, from which about ten percent of "Privacy" for the German industry and the German craft. But also in particular northern Italy affected by the epidemics are numerous suppliers.
One between the 3. and the 6. Marz with more than 10.000 participants carried out the survey of the German Chamber of Commerce and Chamber of Commerce, with 47.17 percent, almost half of the German companies expect to suffer sales pits through the Covid-19 epidemic. 27.18 percent of companies even expect that these sales pits will be higher than ten percent. They come mainly from the travel, event and guest institute area.
Comparison with financial crisis
The organization for economic cooperation and development (OECD) already had the COVID 19 epidemics already on 2. Marz as "Coarse danger for the global economy since the financial crisis" designated. On this comparison, the Bavarian Minister Prosident Markus Sodder played yesterday as well as on Mario Draghis Whatever-It-Takes reaction from 2012, when he meant, you have to "do everything to prevent a very rough recession".
Among other things, his specifications are paying a financial security for hospitals, which are intended to surrender to intensive care without fear of financial consequences. Visits should also be there as well "solid" be braced as in alder and care facilities. This follows the Bavarian state government to the Easter Rating. The initial event initiator highest limit was also at the beginning of thousands of persons was now reduced to the value in force in Austria.
Because children and young people have the most and most common closest social contacts (as you can see regularly on the spread of leaflets), the Easter holidays were reinterpreted in Bavaria. Factally they started this afternoon with the school. Bremen, Lower Saxony, North Rhine-Westphalia, the Saarland, Luxembourg, France, Belgium, Italy, Portugal and the US states Kentucky, Maryland, Michigan, New Mexico, Ohio and Oregon have also grabbed this maaking.
There, in the US, the short-term recovery of the Borsen in the course of Donald Trump’s outstanding delivery of financial relief is already over. Yesterday, the Dow Jones Index lost 9.99 percent as much as the BorsenCrash of 1987 no longer. The Nasdaq and the SP 500 hardly happened better. In Asia, this trend today sat down with six percent minus at the Japanese Nikkei index, 6.2 percent minus at Hong Kong Hang-Seng Index and 3.4 percent minus at the Sudkorean Kospi.
The German Dax (who had booked yesterday with 12.24 percent, the big daily loss since 1989) recovered again. That such a recovery does not necessarily have to stop long, the development of American indices shows. For a long-lasting recovery, successful vaccine and drug developments. A small step in this direction today was the unusually rapid recognition of a SARS COV 2 rapid test of the Swiss Pharmaconzern Roche through the American Health Health FDA. The latter reached for an emergency clause, which is why the permit for the time being only.