Merkel warned 'depression' to hit German economy if coronavirus outbreak spikes again

Merkel warned 'depression' to hit German economy if coronavirus outbreak spikes again

Daily Express - World·2020-04-30 11:02

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Angela Merkel is expected to take Germany out of the coronavirus pandemic with a struggling economy as the Institute for Economic Research (IFO) forecast there could be a 6 percent shrinkage in financial resources. Chancellor Merkel last week relaxed lockdown measures for most of the country but may need to reconsider further reopenings after the reproduction rate of the coronavirus edged up, sparking further concerns for the economy. Michael Bauer, professor of Financial Economics at the University of Hamburg, suggested Berlin may have to grapple with a "depression-like" scenario should current economic forecasts be too optimistic.

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