Volker Wieland: "The effects of the second wave are manageable" (NZZ, Börsen-Zeitung)

In its new annual report, the German Council of Economic Experts is less pessimistic for the current year than in the summer. The effects of the second wave in the corona pandemic are manageable, Prof. Volker Wieland said in an interview with the "Neue Zürcher Zeitung". In an interview with the "Börsen-Zeitung", he expressed confidence that Germany could get out of debt with higher economic growth.

The current "lockdown light" is not comparable with the situation in spring, said Wieland. The German economy is benefiting from functioning supply chains and the recovery in Asia. "It would be much worse if there were again large-scale closures of factories, for example in industry," Wieland warned.

If the recovery solidifies, the support measures could also expire, Wieland continued. However, tax increases were the wrong way to go. An increase in income and corporate taxes would seriously damage growth in the short and long term. "It should be made clear that one wants to get out of debt by means of higher economic growth," he said in the "Börsen-Zeitung".

Neue Zürcher Zeitung: "Die Auswirkungen der zweiten Welle sind überschaubar"

Börsen-Zeitung: "Deutschland kann mit höherem Wachstum aus den Schulden herauskommen" (€)