Germany’s Finance Minister Olaf Scholz said that economic situation is “quite serious” in Europe. Hence, it is “important in the second half of the year to tackle the serious recession we are experiencing.”
“Current indicators give us hope that we will have a good recovery,” he acknowledged. “But these developments are still quite precarious and I can’t say we are over the worst of it yet.”
He added that Germany’s focus over the coming months would be to complete the set up of the EUR 750B recovery package, and EU’s long term budget of EUR 1.074T.
