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The coronavirus situation in Germany is serious even if it doesn’t feel that way to everyone yet, German Finance Minister Olaf Scholz said on Thursday, as reported by Reuters.

Additional takeaways

“By offering targeted measures, we can offer huge support to those who really need it.”

“We need to provide up to 10 billion euros in one month in financial support.”

“It will remain difficult through the four months of winter.”

“This financial support is on a level never seen before.”

“Anybody asking how they will handle the coming period can be certain we will help them.”

Market reaction

These comments failed to provide meaningful support to market sentiment. As of writing, Germany’s DAX 30 Index was down 0.22% on the day at 11,535.