Germany

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Germany

COVID-19 Update:

Cases: 2,472,896

Deaths: 71.711

Recovered: 2,283,400​​​​​​​

Economy:

Due to the corona pandemic, the Federal Employment Agency (BA) spent more money last year than ever before. That emerges from a report by the authority. With a total of 61 billion euros, the expenditure exceeded the high of 56.8 billion euros from 2003. High costs were incurred, especially for short-time work benefits and unemployment benefits. During the lockdown in spring 2020, six million employees were temporarily on short-time work. Over the year, the BA paid out 22.1 billion euros in short-time work benefits. For comparison: in 2019 it was 157 million euros, during the financial crisis between 2008 and 2012 a total of 8.5 billion euros.

The German economy is threatened with “zombification”, warn economists, because Corona aid artificially kept ailing companies alive on a massive scale. But a new study raises great doubts about the thesis. Zombie stories are very popular with the audience. This does not only apply to Hollywood, but also to otherwise dry-looking titles in the business press. “Germany is haunted by the ghost of the zombie companies,” wrote the Financial Times during the corona crisis. “Zombie companies are spreading in the middle class,” believes the “Börsen-Zeitung.” Behind this is the not entirely unfounded fear that state rescue measures and permanently low interest rates could keep ailing companies alive that should have been dead economically. The catchphrase is catchy, but also a bit crooked in view of the economic phenomenon on which it is based. In films, the undead accumulate everything in their environment and plunge the world into an apocalypse within a short period of time.

Travel restrictions:

On March 2nd Germany published new travel restrictions. Passengers arriving from countries other than Brazil, Portugal, Czechia, Ireland, UK, Slovenia etc. are not allowed to enter. These restrictions do not apply to members of EEA and Switzerland, passengers arriving from EU countries, military and merchant personnel, unmarried partners, and family members of German residents etc. Passengers could be subject to quarantine for 10 days. 

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