The economies have not participated in the perceived competition for the bleak forecast. The Munich Ifo Institute recently came to the conclusion that the German economy could collapse by more than a fifth this year due to Corona. According to their latest report, it is only a fraction of the worst-case scenario for economic practices.
Of course, you would like to believe that. Right now optimism is a balm for the soul. But is there a realistic basis for this? Yes, Germany can get away with a dark blue eye. However, this depends on the extent and duration of the virus pandemic. The longer public and private restrictions apply, the greater the risk that entire structures will break down. Even the state rescue billions don’t help forever, but only for a limited period.
However, recent history has an impressive counterexample. The global financial crisis in Germany in 2008 and 2009 was actually unexpectedly quick. Immediately afterward even boom years followed. Maybe the economies are right after all.
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