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German Finance Minister Olaf Scholz reiterated on Tuesday that it’s key for them to work together to tackle the coronavirus and added that nobody can say for sure when the pandemic will be over, as reported by Reuters.

Additional takeaways

“It makes no sense to speculate on when lockdown can be lifted.”

“The impact of current lockdown on the economy is not too severe.”

“Germany has the firepower it needs to tackle the pandemic.”

“We’ll use our fiscal firepower where support is needed.”

“We want to get out of the crisis with growth, this should help to pay back the debt.”

“There will be a chance to reduce tax subsidies, which are not good for the environment.”

Market reaction

These comments were largely ignored by market participants. As of writing, Germany’s DAX 30 Index was virtually unchanged on the day at 13,941.