The country holds its breath and looks up with anxious questions on development in our neighborhood and our country. Millions of people have anxiety about your health, your life, your professional existence.
A historic rescue package for the economy
The German Bundestag has launched this week a historic rescue package for the economy. Through the use of the exception for emergency situations in the debt brake, a deficit of 156 billion euros could be decided. In addition to direct Liquidity support in the amount of 50 billion euros for small firms and Solo-self-employed, to be paid out over the country, was launched an economic stabilization Fund. This should make for larger businesses of 400 billion euros for guarantees provided, with 100 billion Euro to recapitalize, and with 100 billion euros in the KfW special programs to refinance. At the same time, the KfW (Kreditanstalt für Wiederaufbau) accepts up to 603 billion euros in guarantees for loans.
in Short: The maximum Liability for the state is currently over 1.3 trillion euros. The 40% of the economic output of a year or of the Federal budget for about four years. That sounds like incredibly much. Finance Minister, Olaf Scholz, called it a Bazooka. Economy Minister, Peter Altmaier, said that no work should go lost. The Person
Michael Theurer, economist and Deputy Chairman of the FDP group in the Bundestag.
The fear: The help comes not at all to
So everything is in Butter? Hardly. The measures are in principle useful, it is legitimate to fear that the aid will not arrive nationwide and will work, however. The feedback from the economy are very mixed, in part devastating. First of all, the most obvious Problem: companies with between 10 and 249 employees, depending on the state, little or no access to Liquidity support. For you only loans, which account also for the other companies the largest part of the aid remain.
However, even when the KfW takes over 90% of the liability for a loan: Which Bank is to apply for a company that is in need of a loan for an investment, but for the running costs, the remaining 10% of the liability? How is that supposed to work if the company is currently for an indefinite period of time with no sales? A Bank that acts in such a way would be contrary, in many cases against the state Bank’s regulation.
policy begins with the contemplation of the reality. Yes, the loans will be able to arrive at some companies, and some companies also help. Who would have purchased as a customer usually today a car, this purchase may be in half a year. Over the period of two years for some car manufacturers may have slightly changed, here is the bridging of rich loans completely. A hotel bed, I don’t evidence today, I can’t prove but in the morning twice. A piece of theatre that I have not listed today, I can’t perform in the morning twice. In particular, a service provider to the government Shutdown plunges into an existential crisis for the Liquidity support maximum relief and loans may not be for you. The Bazooka is the non-starter.
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“One should not raise expectations that you cannot meet later”
can Where it would lead, we see in the United States. There have reported last week, three million people unemployed. That so many people were so quick to be unemployed, there was never. Similar threatens us in Germany, if the measures work as desired. It is in order, if the Federal government tried to calm down and to take Fears. You can find no expectations you can’t meet later.
I warn you against an evil awakening. Still would be time to do otherwise. We need a radical rethinking. The basic assumption of the previous aid that the state distributes alms, because there is an overriding interest in the preservation of the economic performance – our entire social system is based on it. That is already a legitimate reason. However, it is Vice versa. Because it is the state, the limits of a public health emergency, the economic freedom, it deprives you of some companies.
As the state
should behavior of the state in such a Situation, is regulated in the infection protection act. If a Person is prohibited from an activity, because of contagion risk, that Person has a right to a full compensation from the state. The solidarity community has an interest in ensuring that this Person remains in quarantine or Isolation, they interfere with fundamental rights of this Person, so you shall also be liable for the damage incurred.
unlike some previous economic crisis means here, namely, the unity of Act and are not Liable, that the state should not support companies that have not performed well, due to their own responsibility. The unity of Action, and Adhere to, here, means that the state pays for the necessarily caused damages in full. If now a flat rate of cinemas, Bars, concert halls or soccer stadiums have to close, because a flat rate of infection is assumed to be risk – why should the compensation rules here, only an Iota of the individual activity is forbidden to deviate? It makes for an orchestral musician is no difference, whether he should not occur because he is sick or whether he should not occur because there is a wave of Illness.
I am aware that this claim is radical. Instead of loans and guarantees, it would mean a real cost to the state. But it is the only way to be really responsible with this crisis. For one thing, we must not forget: Also unemployment, lack of prospects and poverty costs lives. To the extent that we can’t let that happen.
the strengthening of the pandemic economy for the benefit of all
in addition to the aid for those affected by the Shutdown directly negative, it must go now to the upgrading of the pandemic economy. Here is currently thought, especially in the health care system and of food whose production and Distribution must be maintained. The production of respiratory equipment, protective clothing, respiratory protection masks, Corona testing, and disinfectants must be driven by companies with the necessary know-how of changing their production and, at times, additional manpower. It is all to a Central point of contact to coordinate requirements, and to provide opportunities for the supply of temporary workers by companies, which need less labour.
That being a doctor is absolutely relevant to the system, everyone knows immediately. But many other professions are important now. Plumbers, carpenters, decorators for the Home Office. Lawyers and consultancy firms in the aid bureaucracy to assist and insolvency administrator, they should not be used.
If the acute AIDS start-up, it must also be about how and when the Shutdown can be terminated and what are the chances – around to digitizing for the new normal case can be used. There will be a new Morning with new hope and a light at the end of the tunnel.
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