Germany could take on new debt to cushion impact of coronavirus

Germany is ready to take on new debt if necessary to cushion the economic impact of the coronavirus on Europe's largest economy, Economy Minister Peter Altmaier said on Monday.

"Many are wondering: Can we cope with this? Should we touch our financial reserves? Is it worth it?" Altmaier told ARD public broadcaster. "And we're saying: Yes. Germany has been very successful over the past 20 years. And we're ready to go into debt if necessary, if there is no other way, to finance this expenditure."