Jens Weidmann, a member of the Governing Council of the European Central Bank (ECB) and President of the Bundesbank, said on Thursday that the The nation’s economic outlook will be based on developments of the coronavirus (COVID-19) after lockdown.
However, policy makers dismissed expectations that the second wave of coronavirus will inflict more economic damage than the first be
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We hope that the Germany’s debt burden during the pandemic is lower than during the 2008 financial crisis.
The German government emergency fiscal measures must end once the crisis is over unleashed by the pandemic.
The 2021 general elections in Germany should not influence the decision to end or extend the economic rescue measures.
The governments should not expect central banks to keep interest rates low forever.
If the price outlook calls for it, there must be a turning point in terms of interest rates in the eurozone.
It is expected that Price pressures in the euro area remain moderate in the coming years.
A change in interest rate policy can take some time.
Governments must prepare for interest increases and not pretend that their debt burden is easy to pay.
The ECB will not take into account the costs of servicing the public debt if price stability requires higher interest rates.
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