GERMANY'S EASTER QUARANTINE MAY BE FOLLOWED BY BANKRUPTCIES
According to analysts of the Association of Retailers HDE, if stores are closed in Germany at Easter in connection with the decision taken by the authorities to extend the isolation measures, then this may be followed by an increase in the bankruptcy of enterprises. One hundred days of isolation for 54% of fashion stores have already turned into a probability of bankruptcy, many retailers have lost hope of being able to survive in this situation.
German Chancellor Angela Merkel appealed to residents of the country to stay at home for 5 days, starting from April 1. The lockdown in the country has been extended until April 18, as the number of coronavirus infections and the number of COVID-19 deaths continues to increase in Germany. According to HDE President Stefan Ghent, such a decision by the German authorities will negatively affect the retail sector, where all necessary measures are taken to limit the risk of infection during purchases. The German Automobile Trade Association ZDK also opposed the tightening of the isolation measures.
This situation will certainly have an impact on the Euro currency, as Germany is the engine of the European economy. Therefore, it is highly likely that the Euro will continue to decline in world currencies, in particular in the EURUSD, EURGBP, EURCHF, and EURJPY pairs.