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Chancellor Angela Merkel has warned that the coronavirus crisis will worsen before it improves and that the consequences will affect Germany’s finances for months or even years.
The former leader of Europe’s largest economy has had no words of consolation, saying that overcoming the disease is based on the dubious rate of progression and spread of the vaccine, a procedure that can take 12 months or more. As summer comes to an end and others are forced to return home, the stage will most likely worsen, he said in his annual summer speech.
“I’m firmly at the point that it’s a smart resolution to take on a higher debt, because anything else would mean we’d be in the grip of the pandemic for much longer,” Merkel said in Berlin on Friday. “In retrospect, I am glad that we have not succumbed to the sweet poison of borrowing in smart times,” giving Germany more resources to fight the crisis now.
The large-scale briefing was one of his last summer press meetings before resigning after 16 years at work after next fall’s election. He made it clear that the Covid-19 crisis would dominate the rest of his political career, opening the occasion with a non-public appeal to the Germans in which he thanked them for their sacrifices but warned that they needed it most.
“There are indications that things will be more complicated in the coming months,” he said. “It’s serious, seriously unchanged. Keep taking it seriously.
While Merkel praised her pandemic management, cracks began to appear. It has struggled to align state leaders with reaction measures as infection rates rise again. On Thursday, the chancellor suggested that Germans avoid traveling to areas affected by the virus, such as the United States, and warned that restrictions on family-circle meetings can still apply.
Control of merkel’s crisis has been accompanied by his government’s historic resolve to abandon its balanced budget policy by deferring constitutional debt limits as a component of a large stimulus increase. It has also played a leading role in the European Union’s stimulus fund, which the bloc pools its loans for the first time.
While protecting Germany’s lending frenzy, Merkel has shown that her government intends to maintain as much fiscal field as possible. The country will get about 22 billion euros ($26 billion) from the European Union’s stimulus fund, which it helped create. Instead of the budget for new initiatives, most of the cash will be spent on existing systems as a component of your stimulus package.
The country will have to work hard to “keep our economy as imaginable or put it back on track,” he said, adding that Germany will also have to focus on problems such as climate replacement and digitization that will have an effect on its long-term competitiveness.
While the pandemic ruled Friday’s press convention, Merkel is also grappling with geopolitical tensions. Germany’s relations with Russia have been affected after opposition leader Alexey Navalny was allegedly poisoned and treated at a Berlin clinic near where the press convention is held.
He expressed fear of the option of Russia sending troops to Belarus after President Vladimir Putin said the Kremlin had prepared a police cadar to help the country if necessary. He said tensions will continue to accompany relations between Germany and Russia in the coming months, but that they do not want to harden their position.
Merkel’s other key issues
It will not replace policy on Russia; The purpose is smart relationships
Rejects U.S. attempts Closing the North Stream 2 pipeline, allocation completed
It will seek a eu-wide reaction if the evidence is naval and poisoned
Regrets the resignation of Japanese Prime Minister Shinzo Abe, who has defended multilateralism
Defend immigration decisions, make the majority
Nationally, Merkel has tried to talk about her successor, but has been drawn to the rider to appear in recent weeks with possible candidates from her Conservative bloc led by Christian Democrats: North Rhine-Westphalia Prime Minister Armin Laschet, and Bavarian Markus Soeder.
Meanwhile, Economy Minister Olaf Scholz has already been declared a candidate for chancellor of the Social Democrats, and has infiltrated his tense coalition.
Merkel, who was quarantined this year after being in contact with a doctor who then tested positive, takes a walking holiday in the South Tyrol mountains in Italy, but Covid-19 has cancelled the plans, so Merkel has kept her local and vague. saying only that you will spend your summer vacation this summer in Germany.
Asked on Friday what she regrets about the containment restrictions, she said: “Mostly I miss the spontaneity in contact with other people.”
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This story was originally featured in Fortune.com