BERLIN — Germany would be in a position to enact a fiscal stimulus package should the coronavirus spark a global economic crisis, Finance Minister Olaf Scholz said in remarks published on Sunday. In Germany there have been 66 confirmed cases, and a government crisis committee on Friday widened cross-border travel guidelines and canceled major international events. "Should it come to major turmoil in the global economy because world markets and production centers become affected, we have all the means to act fast and decisively," Scholz told Welt am Sonntag newspaper. "Our fiscal policy is built on a solid footing so that we can deal with a major economic crisis with full force." There are fears the coronavirus outbreak could sink Germany into a recession, given the economy's reliance on exports and Chinese supply chains.

Source: International New York Times February 29, 2020 23:03 UTC