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ECB’s Weidmann Says a German Recession Is ‘Now Inevitable’

Jens Weidmann
Jens WeidmannPhotographer: Alex Kraus/Bloomberg

A recession in Germany “is now inevitable” as the coronavirus pandemic spreads, European Central Bank Governing Council member Jens Weidmann said in an interview with Die Welt newspaper.

Weidmann, who heads Germany’s Bundesbank, also said the emergency 750 billion-euro ($800 billion) bond-buying program agreed by the ECB this week to calm stress in financial markets doesn’t mean the central bank’s coffers are now empty.