Germany will provide up to 10B euros for locked down businesses
Merkel unveils business closure plan
- Smaller companies will get 75% of income in support
- Shops will remain open with fewer than 1 person per 10 square meters
- Bars, restaurants, cinemas and theatres to close
- Hotels will only be open for essential, non-touristic purposes
- Private meetings to be limited to max 10 people from max 2 households
Merkel says today is a hard day. It certainly is for equity investors.