Bundesbank comments in their latest monthly report
- Sliding into a pronounced recession cannot be prevented
- An economic recovery will only start when the pandemic risk is effectively contained
- Economic developments are characterised by unprecedented uncertainty
- The impact is likely to be serious - at least for the coming months
- Recent surveys indicate German companies are now suffering significantly
It is not only going to be a painful time for Germany, but for the world economy as well as every country will have to deal with the fallout from the virus outbreak over the next few weeks/months. Eventually, will this be all too costly for central banks and governments that we have to just move on with our lives regardless? Only time will tell.
