Angela Merkel warns of long road ahead in worsening virus crisis
Source: Live Mint
Chancellor Angela Merkel warned the coronavirus crisis will get worse before it gets better and that the fallout will test Germany’s finances for months if not years to come.
The long-time leader of Europe’s biggest economy was short on comforting words, saying that beating the disease hangs on the uncertain pace of developing and disseminating a vaccine -- a process that could take 12 months or more. As the summer draws to a close and people are forced indoors, the situation is likely to get worse, she said during her annual summer address.
“I am firmly convinced that it is a good decision to take on a high degree of debt because anything else would mean we would be in the grip of the pandemic for a lot longer," Merkel said Friday in Berlin. “In retrospect, I’m happy we didn’t succumb to the sweet poison of borrowing in good times," giving Germany more resources to fight the crisis now.
Click here to read the full article published by Livemint on 28 August 2020.
Image by Live Mint
Chancellor Angela Merkel warned the coronavirus crisis will get worse before it gets better and that the fallout will test Germany’s finances for months if not years to come.
The long-time leader of Europe’s biggest economy was short on comforting words, saying that beating the disease hangs on the uncertain pace of developing and disseminating a vaccine -- a process that could take 12 months or more. As the summer draws to a close and people are forced indoors, the situation is likely to get worse, she said during her annual summer address.
“I am firmly convinced that it is a good decision to take on a high degree of debt because anything else would mean we would be in the grip of the pandemic for a lot longer," Merkel said Friday in Berlin. “In retrospect, I’m happy we didn’t succumb to the sweet poison of borrowing in good times," giving Germany more resources to fight the crisis now.
Click here to read the full article published by Livemint on 28 August 2020.
Image by Live Mint