In Brief: Germany takes on 156 billion euros in new debt to manage coronavirus crisis

Germany is taking on 156 billion euros of new debt to save the economy amid the coronavirus crisis.

Photo by Monika Mueller-Kroll

By Soraya Sarhaddi Nelson and Monika Müller-Kroll

 

The lower house of Germany’s parliament has approved a historic aid package to rescue the German economy from the coronavirus pandemic.  

It’s the first time since 2013 that the German government is taking on new debt, 156 billion euros worth, which is half of the country’s normal annual spending. The package includes loans, aid for small and large companies and funding to nationalize some stricken businesses.

The upper house of the German parliament will vote on the package on Friday.

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The German interior ministry announced on Wednesday it is no longer allowing seasonal workers to enter Germany.

The decision could decimate the ongoing yellow asparagus season, as most of the workers who harvest the popular crop come here from Bulgaria and Poland.

A spokesman for the interior ministry defended the ban as necessary to help break the coronavirus transmission chain.

This news is brought to you in cooperation with Berliner Rundfunk.

For up-to-date information on what you should be doing to help stop the spread of the coronavirus, check our fact sheet. 

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