Germany's Merkel: We can't offset all economic impact with state intervention

The economic impact from the coronavirus pandemic cannot be offset with state intervention, said the German chancellor, while speaking at a news briefing on Wednesday.

More comments

“Coronavirus vaccine should be made globally.”

“As autumn is coming, we stand before a tough phase on the coronavirus.”

“German health system has proven to be extraordinarily robust.”

“It’s key that we go against the tendencies of nationalism and protectionism.”

“We want fair trade with China.”

“We have not got very far with investment agreement with China.”

“We will try to make progress on reciprocity by end of the year.”

“China’s climate goals should give us the motivation to fulfill our goals in Europe.”

“We will bring up the issue of Hong Kong and the bad treatment of minorities in China.”

Market reaction

Nothing seems to affect the sentiment around the EUR/USD pair, as it remains on the back foot below 1.1750 amid a broad-based US dollar comeback.

The spot is losing 0.12% to trade at 1.1727, at the press time.

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