Minister says Berlin might take new debts to battle Covid-19, may alter budget policy


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Minister says Berlin might take new debts to battle Covid-19, may alter budget policy

Late on Monday, the 16th of March 2020, the German Economy Minister Peter Altmaier said that the bloc’s largest economy, Germany, had been prepared to take on new debts if necessary, to insulate the highly export-oriented nation’s economy amid a clattering wave of newer coronavirus cases.

As of Tuesday (March 17th) night, Germany had reported a rise of 1,367 in new coronavirus cases and 6 deaths over the past 24 hours, while two German nations remained in seriously critical condition. In the wake of a strident growth in newer cases coupled with German Chancellor Angela Merkel’s cautioning that nearly a third of the nation’s population might get infected from the coronavirus, latest remark of Germany’s Economy Minister had been a blazing sign that Berlin was prepared to put an end to internationally disputed but domestically hailed policy of keeping the budget balanced.

Meanwhile, adding that the German Government of Angela Merkel was prepared to stretch its hands towards the nation’s financial reserves in these times of national health emergencies in form of new debts, German Financial Minister Altmaier said in an interview with the Public Broadcaster ARD on Monday (March 16th), “Many are wondering: Can we cope with this? Should we touch our financial reserves? Is it worth it? And we’re saying: Yes.

Germany has been very successful over the past 20 years. And we’re ready to go into debt if necessary, if there is no other way, to finance this expenditure. ”