Second wave of corona: Economists from DIW and IW warn of consequential damage

With the rise in the number of daily corona infections in Germany, concern among the leading economists in the country is growing. "A second wave could be economically more damaging than the first wave, because many companies are hit, have high debts and hardly any reserves," said Marcel Fratzscher, President of the German Institute for Economic Research (DIW), the "Rheinische Post".

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. Already on Friday, the retail sector had also appealed to customers, the corona rules such as distance and Compulsory mask compliance to be observed. The President of the German Trade Association (HDE), Josef Sanktjohanser, said: "Let us not destroy what we have achieved."

Federal Minister of Economics Peter Altmaier also called for tougher penalties for violations of corona rules: "Anyone who deliberately endangers others must expect that this will have serious consequences for him," said the CDU politician. "We must not jeopardize the recovery that is just beginning by accepting a further increase in infections." Careless and irresponsible misconduct must be prevented more effectively than before. IW boss Hüther: "It has to be about regional answers" Meanwhile, the director of the Institute of German Economics (IW), Michael Hüther, called on the federal government to face a second nationwide lockdown not to rush to impose the infection. "A nationwide lockdown requires an epidemic situation of national importance," said Hüther of the "Rheinische Post".

There is currently no such national danger situation. "I do not consider a second nationwide lockdown to be necessary or responsible for the social and economic collateral effects," said Hüther. "It has to be a question of regional answers." Mario Ohoven, President of the Mittelstand, 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 an increased number of infections, a second shutdown must not result," warned Ohoven.

Haseloff: "We cannot afford a second lockdown" Saxony-Anhalt's Prime Minister Reiner Haseloff also called for the precautionary measures to be observed. "We cannot afford a second lockdown," the CDU politician told the newspapers of the Funke media group. "This would hardly be able to cope with our economy and would ultimately also have a negative impact on the welfare state and its stability." Haseloff warned: "Aid measures as in the current financial framework could probably not be repeated. We therefore need the highest level of attention and insight into urgently needed measures like the mask requirement. " When new flames of infection flare up, "fast, low-threshold and differentiated at the local level" must be responded to.
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