The German economy is likely to shrink by 6.6% this year as a consequence of the coronavirus pandemic before growing by 10.2% in 2021, the Ifo Institute said on Thursday in its latest update.
The German government and the management of flagship carrier Lufthansa, which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro (US$9.8 billion) bailout, two people close to the matter said.
France and Germany proposed on Monday a 500-billion-euro (US$545-billion) fund to finance the recovery of the European Union's economy from the devastation wrought by the coronavirus crisis.
German Chancellor Angela Merkel voiced frustration on Wednesday that Russia was targeting her in hacking action, saying she had concrete proof of the “outrageous” spying attempts.
The coronavirus pandemic has shown Europe is too reliant on other countries for some medical supplies, and European states should work together to further diversify international supply chains, German Economy Minister Peter Altmaier said in an interview with global media.
Russian President Vladimir Putin and German Chancellor Angela Merkel on Friday spoke on the phone to mark the 75th anniversary of the end of World War II.
Unable to deliver to hotels and restaurants closed due to coronavirus restrictions, a German brewery on Thursday gave away some 2,600 liters of beer. Rather than throwing it away, the owners of the Willinger brewery, in the western state of Hesse, decided to dish out the light and dark beer free of charge.
The Bundesliga will resume on May 15, the German league confirmed on Wednesday, after Chancellor Angela Merkel and state leaders gave the green light to restart behind closed doors following weeks of shutdown imposed to control the spread of the coronavirus.
Germany and other parts of Europe took tentative steps to ease lockdown measures on Monday but officials warned the battle against the coronavirus pandemic was far from over. Some shops reopened in Germany and parents dropped their children off at nurseries in Norway as tight restrictions in place for weeks were lifted in parts of the continent.
German Chancellor Angela Merkel on Monday urged China to be as transparent as possible about the coronavirus outbreak, as Beijing faces mounting pressure over its management of the crisis.