Economists warn of major consequential damage


Many companies are burdened with high debts in the corona pandemic, and their reserves have been used up in many cases. A second wave could do even more damage, warn economists.

Berlin (dpa) – Leading economists have expressed concern about the increased number of daily corona infections. «A second wave could be economically more damaging than the first wave.

Because many companies are stricken, have high debts and hardly any reserves, »said Marcel Fratzscher, President of the German Institute for Economic Research (DIW), of the« Rheinische Post »(Saturday).

The US experience shows that clear rules and early restrictions are important in order to keep a wave of infections as low as possible and to limit the economic damage. “Only if the overwhelming majority of the population behaves responsibly can the restrictions be limited in time and the damage minimized,” said Fratzscher.

The director of the employers’ institute for the German economy (IW), Michael Hüther, warned the federal government not to rush to impose a second nationwide lockdown in view of the infection. “A nationwide lockdown requires an epidemic situation of national scope,” said Hüther the newspaper. However, there is currently no such national danger situation. “I think a second nationwide lockdown is neither necessary nor responsible for the social and economic collateral effects,” said the IW chief. “It has to be about regional answers,” said Hüther.

SME President Mario Ohoven also appeals to politicians to prevent a second lockdown if the number of infections increases. “It would be irresponsible to drive the German economy into ruin by a further lockdown,” said the President of the Federal Association of Small and Medium-sized Businesses (BVMW) to the newspapers of the Funke Media Group. “Even if local outbreaks lead to a partially increased number of infections, a second shutdown must not result,” warned Ohoven.


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