places in the World, the Coronavirus economies to a standstill. But thousands of companies facing bankruptcy, millions of people fear for their jobs. “It’s the perfect storm,” says Adriel Jost (34), chief economist of the consulting firm Wellershoff & Partners.
Everywhere have torn governments, therefore, now the rudder itself. From Asia to America you rush to the business to help with the gigantic sums of money. There is a total of 8000 billion dollars. More than a quarter of the way from the United States alone: 2300 billion.
Switzerland, in comparison, modest
In comparison, the 60 billion franc emergency assistance of the Switzerland seem modest – but only at first glance. Putting the Numbers in relation to economic output, shows The package of the Federal Council, representing 8.5 percent of the Swiss gross domestic product (GDP), the Americans makes up eleven percent of its annual economic output. The two countries are moving at a comparable level internationally seen only in the lower midfield.
top of the list is Italy, the European Hotspot to the Corona-crisis. 750 billion euros, has promised the Prime Minister, Giuseppe Conte (55) his people – 41 percent of GDP. And in the case of a state debt-GDP ratio of 137 percent, one of the world’s highest. Since the 1200 billion Euro, Germany is ready to act even somewhat more moderate – they correspond to 35 percent of the economic output, with a nearly 60 percent significantly debt the lower rate.
“In Numbers out of China, caution is advised,”
A view to the East surprise: China, Japan and South Korea to provide economic aid in the range of only one percent of its annual economic output. Although South Korea and Japan were also in the crisis the economic life to continue. China sent but all the metropolises in the Shutdown.
However, “With Numbers from China with caution,” says Christoph A. Schaltegger (48), a Professor of Political Economy at the University of Lucerne. “China is, however, the procedure is also differentiated and it has only foreclosed the most affected regions. The government has acted specifically to be affected, and has kept the production in other regions.”
What a set of States to their aid? The largest of the amounts of reserve for short-time work, and government loan guarantees. Only a few resort to direct payments. “In terms of regulatory policy, loans are the most useful,” says Wellershoff chief economist Jost. “Transfers do not provide incentives and allow for no controls.”
helicopter money is absolutely inefficient
With the United States and Hong Kong, two countries put out so far only on direct subsidies to households. “Helicopter money strengthens, while the purchasing power of the people,” says the Lucerne, a Professor of Economics Schaltegger, “but it is absolutely inefficient. Because from the unemployed to the crisis a winner, all benefit equally.”
differences not only between States but also between the systems. The West European social market economies have a shoot on expanded unemployment insurance and are familiar with short-time working, in contrast to the USA, where the number of unemployed for weeks unabated in the height.
Is superior to the social market economy of the Anglo-Saxon System? Chief economist Jost puts into perspective: “The social market economy is structure-preserving and thus allows unproductive companies to Survive. In the USA, is not dismissed only faster, but also faster re-employed.”
Switzerland is able to Finance the debts easily
In the eyes of Professor Schaltegger, the economy is not the form is decisive, but the political organization: “Now show the benefits of federalism. He allows stronger Think in terms of proportionality and local problems.” Countries such as Switzerland, Germany, Canada and the United States are, therefore, in addressing the economic crisis in the advantage.
to not be able to cope But even for these States such a gigantic rescue programs easily. “The United States will have this year a deficit of 20 to 25 percent,” says Jost. Italy is drowning literally in debt. Otherwise, Switzerland is: With just under 14 per cent, it has a very low debt ratio.
“Now the value of the debt brake, it is clear,” says Schaltegger. “Switzerland has credibility on the international capital market and is able to Finance the debt without problems.” Also Wellershoff-man Jost is convinced: “We can afford it. But it is still hard, if you consider that we have to pay back these billions in taxes.”
Revival of the nation-state
Anywhere in the world, the countries on the margins of their rescue – but everyone does it. “International cooperation is not,” says Schaltegger. “The EU tries desperately to be relevant, but you can’t do it.” Symptomatic of the friction of the relatively modest aid package presented by the European Finance Ministers on Thursday. The 540 billion euros correspond to four percent of the GDP of the 27 member States. Schaltegger: “We are witnessing a Revival of the nation-state.”
Adriel Jost puts it: “In the crisis, everyone is itself the Next – and everyone has to do now is also enough.”
Coronavirus
The Coronavirus currently holds the world in suspense. Many countries are taking measures such as Closing schools or limiting public events, to prevent the spread. In Switzerland, too, the grass, the Virus magnetized. All of the current information and Figures around the topic there is in the Coronavirus-Ticker.
I Have the corona virus or just the flu?
The Coronavirus spreads further – also in Switzerland. Especially in the flu season, you can assess for yourself whether one is ill with the Coronavirus, or whether you just have an ordinary flu. The differences are subtle, but they exist. VIEWS is defined.
protection against Coronavirus
recommendations of the Federal office for health, how you can protect yourself:
Hygiene
wash your hands: Wash your hands regularly with soap and water or use a Hand sanitizer. Don’t sneeze, you Sneeze into the hands, or cough in a handkerchief; or if you have none, in the bend of your elbow. Handkerchiefs to dispose of properly: paper towels, should be disposed of after use in a closed waste bin. You stay in fever and cough necessarily at home.
contact minimize
Stay home and avoid wherever possible contact with people. You go only in the following exceptional situations, out of the house: the food doctor shopping or pharmacy visit / the home office is for your job not possible / you have to help other people. You keep if possible 2 meters distance to your fellow human beings, for example, in a line or at meetings. Avoid contact with people breathing or have a cough. You avoid public transport. You can be all that is possible to home deliver. Important: No welcome kiss, no hugs, no shaking hands.
stay Informed
Note the local instructions and recommendations. Strictly to the rules and announcements of the authorities. Infoline Coronavirus: 058 463 00 00, 24 hours a day available Info-page of the BAG: bag-coronavirus.
when should the ch one to the doctor?
do not Go out in the symptoms (difficulty breathing, cough, or fever) in the Public and contact you immediately – first by phone, a Doctor, a doctor or a health care facility.
patience
remains The Situation until Further notice. The Federal government informed in regular intervals about the current developments. It applies now more than ever: peace and quiet preserved, and the thing in common to serve.
