Germany: 'Bazooka' against Coronavirus — Vice-Chancellor Scholz comments on economic aid package

German Vice-Chancellor Olaf Scholz and Economy Minister Peter Altmaier spoke to the press in Berlin on Friday, as the country unveiled an economic aid plan to help keep the economy afloat as the world deals with the fallout of the ongoing coronavirus outbreak. Scholz spoke of offering «unlimited» credit to help stimulate the economy, with reports indicating Berlin will offer up to €550 billion... Еще ($609 billion) in government backed loans, which would exceed the €500 billion ($553 billion) offered by the government to tackle the 2008 financial crisis. «We are going set up a credit program without limits so the banks can have a safe credit line and finance can be guaranteed in the future,» he said. «We are going use now, let's say it this way, a bazooka and then we will see if we need to use a smaller weapon,» Scholz added. The Vice-Chancellor also used the opportunity to take a swipe at US President Donald Trump's travel ban on flights and passengers from the Schengen zone, calling it «grotesque.» «Instead of worrying about the problems of his country of a virus that doesn't know any borders, he thinks he can fight it as if it is something that it would only affect people with a citizenship different than the American. We have to come together to fight this,» Scholz added.

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