Leading German economists advised the German government, during a press conference in Berlin on Wednesday, to take a new and drastic approach to protect the economy from the repercussions the coronavirus outbreak may have.
«In our view, priority has to focus on stabilizing the economy. And not out of fear that the city may not get back here and on its feet if the time comes that out tax does not... Еще come back due to the strategy resulting in bankruptcy. The money will definitely drive-in. It's preferable to act early and massively rather than having to live with the subsequent crisis.» Said Clemens Fuest president of the IFO Institute for Economic Research near the Bundestag.
At the meeting, Gabriel Felbermayr President of the Kiel Institute for the World Economy stated that Germany «will most certainly have a recession» in this year as a result of the virus outbreak pointing out Italy and China as examples where this is already noticeable.
The latest data from the European Centre for Disease Prevention and Control indicates that there have now been more than 125,000 cases worldwide and 4,500 deaths related to the virus. Germany is the 4th most-affected country in Europe, with almost 2,000 confirmed cases of infection in the country.