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Germany postpones reopening amid rising Covid-19 cases
21-04-2021 20:06
Germany postpones reopening amid rising Covid-19 cases
Germany postpones reopening amid rising Covid-19 cases

Europe’s most powerful economy remains shut down. The German authorities believe that it is still too early to reopen the economy as the current conditions are extremely unfavorable. “There is not a time for opening. This is the time for being very tough, for keeping infection rates down,” German Finance Minister Olaf Scholz said.  He also believes that Germany “will have the chance to tackle all the burdens which are coming from fighting against the coronavirus” but it will take more time. At the moment, a full reopening of all businesses is not possible. Therefore, it is premature to talk about stable economic growth. The announcement made by the minister served as a signal for the global community. Once again, the German authorities have reversed their plans for reopening and changed their strategy of containing the virus spread. At the same time, the number of supporters who call for a nationwide lockdown is growing every day. Thus, Armin Laschet, the leader of the North Rhine-Westphalia, is among those advocating for this idea. Interestingly, last week, he was the one who asked for flexibility “so that the various state leaders could fight the pandemic as they see fit.” However, he had to change his mind due to a slow vaccination process. German Chancellor Angela Merkel has also altered her stance on imposing tough restrictive measures several times. In March, she announced a strict lockdown over Easter but later she canceled her decision amid pressure from local businesses.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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