- Title: Germany: 750 bln euro aid package is just first step in tackling coronavirus
- Date: 24th March 2020
- Summary: BERLIN, GERMANY (MARCH 24, 2020) (CORONAPOOL) GERMAN ECONOMY MINISTER PETER ALTMAIER ARRIVING FOR NEWS CONFERENCE WHITE FLASH (SOUNDBITE) (German) GERMAN ECONOMY MINISTER, PETER ALTMAIER, SAYING: "The federal government is clear that we view this package of measures as just the first step. We know that the time to implementation is critical. We want to makes sure help arrives as quickly as possible to avoid structures and jobs falling away." CHAIRMAN OF GERMAN COUNCIL OF ECONOMIC EXPERTS, LARS FELD, SPEAKING ON VIDEO SCREEN (SOUNDBITE) (German) GERMAN ECONOMY MINISTER, PETER ALTMAIER, SAYING: "We discussed growth expectations which can obviously not be calculated precisely but no one denies that we are already experiencing serious economic consequences through a large increase in short-time work." CHAIRMAN OF GERMAN COUNCIL OF ECONOMIC EXPERTS, LARS FELD, SPEAKING ON VIDEO SCREEN (SOUNDBITE) (German) GERMAN ECONOMY MINISTER, PETER ALTMAIER, SAYING: "All this will likely lead to economic losses which will be higher than during the last economic, banking and stock market crisis. I am saying 'likely' because no one knows for sure." (SOUNDBITE) (German) CHAIRMAN OF GERMAN COUNCIL OF ECONOMIC EXPERTS, LARS FELD, SAYING (VIA VIDEOLINK): "We are currently ruling out very pessimistic scenarios pointing to double-digit declines. We do not believe that we will have such a difficult situation. Despite everything you have to keep in mind that the first quarter of this year went really, really well." (SOUNDBITE) (German) GERMAN ECONOMY MINISTER, PETER ALTMAIER, SAYING: "It is important to both talk and walk European solidarity, also because the European economies are very closely linked and a sustainable German recovery is only thinkable if the euro zone's economy also recovers." WHITE FLASH ALTMAIER WALKING OFF
- Embargoed: 7th April 2020 12:58
- Keywords: coronavirus economy minister peter altmaier
- Location: BERLIN, GERMANY
- City: BERLIN, GERMANY
- Country: Germany
- Topics: Health/Medicine
- Reuters ID: LVA001C6EUFK7
- Aspect Ratio: 16:9
- Story Text: German Economy Minister Peter Altmaier said on Tuesday (March 24) that an aid package worth up to 750 billion euros ($816.38 billion) that the government announced on Monday was just an initial step in tackling the coronavirus crisis.
"The federal government is clear that we view this package of measures as just the first step," Altmaier told a news conference on Tuesday.
"We know that the time to implementation is critical. We want to makes sure help arrives as quickly as possible," he added.
Asked about the possibility of using the European Stability Mechanism to support the coronavirus-stricken European economy, Altmaier said that European solidarity was crucial to achieving economic recovery.
(Production: Coronapool, Michele Sani) - Copyright Holder: REUTERS
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