Germany's Altmaier: We will return to austerity policy once coronavirus crisis is over

Author: Justin Low | Category: News

Comments by German economy minister, Peter Altmaier

  • We have committed to pay debt back from 2023
  • Growth phase will only be possible once the coronavirus spread slows
  • Once the crisis is over, we will return to savings policy
Germany agreed to a €750 billion stimulus package yesterday, with the government turning away from its frugal policy-making to counter the virus fallout.

But Altmaier is quick to clarify that this doesn't mean a big change of heart:

"Once the crisis is over - and we hope this will be the case in several months - we will return to austerity policy and, as soon as possible, to the balanced budget policy."

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