As Germany prepares to enter a second lockdown as of November 2nd, they plan to offer a 10 Billion Euro package to support affected business. Focusing on small businesses, firms with up to 50 workers and those that are self-employed can have up to 75% of 2019's November turnover reimbursed by the government.
Likely to affect many small businesses, restaurants, and bars, this shutdown hopefully will not have as big of an affect as the first one back in March, and as such this aid package will be smaller. For context, the aid package offered back in March was 750 Billion Euros. This then raises the question, will this only 10Bil package be enough? November through January is very important in Germany with many towns and small businesses profiting greatly from various festival and tourism. There is another 50Billion euros that has been stated is in reserve for a lengthier lockdown. Should the government begin by using all 60Billion and going with a longer lockdown from the start in order to hopefully prevent future lockdowns?
I just find it crazy all these countries are going into their second lockdown... praying it doesn't happen to us here in the USA.
ReplyDeleteI think that with the hope of a vaccine coming soon, the smaller package should br okay. With the reserves in place, they will easily be able to use the other 50 billion to help the economy.
ReplyDeleteAt this point I don't think anything is really "enough", it is just a matter of staying afloat. I think it is smart to spread out the money and have a backup plan. There could be a vaccine coming soon, so that would prevent unnecessary spending.
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