Germany no to fiscal stimulus until crisis hits

Chancellor Angela Merkel(pic) and colleagues agreed on measures helping companies to halt work temporarily, and an investment boost starting next year. The focus is firmly on cushioning the blow for businesses rather than helping out consumers.

BERLIN: Anyone expecting Germany to ride to the rescue of Europe’s economy is in for a wait.

Increasing global pressure and a tally of 1,000 coronavirus cases this weekend still weren’t enough to convince the politicians governing the region’s most fiscally potent country to unleash a major stimulus. That reticence is likely to endure as long as they deem the outbreak’s effect on consumer spending to be temporary and containable.