Germany's 750 billion euro ($834 billion) package to soften the economic impact of the coronavirus outbreak on Europe's largest economy will last for about two months, an independent economics think tank told a German newspaper group.
FILE PHOTO: The Odeonsplatz square during a partial lockdown in Munich, Germany, March 21, 2020, as the spread of the coronavirus disease continues. REUTERS/Andreas Gebert/File Photo
“In the short term, we are in a kind of war economy in which the state plays a bigger role in coordinating the economy than normally,” Reint Gropp, head of the Leibniz Institute for Economic Research told RedaktionsNetzwerk Deutschland. Several economic think tanks and politicians have said that Germany needs to make sure its shutdown does not cripple the economy, but Chancellor Angela Merkel and several of her ministers spoke out at the weekend against a quick loosening of restrictions.
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