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Tag: media industry

18 March

COVID-19 – what about the creative and media industry?

With the COVID-19 crisis, we are facing an economical disaster from which politicians are trying to save us. In Germany, Finance Minister Scholz and Economics Minister Altmaier reported at a press conference on the 13th of March that they will guarantee the liquidity of all businesses regardless of their size. Tax breaks (in the sense of postponing deadlines) and loans should be made possible immediately and even unbureaucratically, the latter with the governmental support for guarantee banks. These actions certainly make sense and in many cases, they represent a true solution. However, in plain English, it means that we need to get over the period of job cancelations with borrowed money that is to be repaid later on. In other words: we should run into debts! There’s more detailed information about these possibilities provided by the German Federal Ministry of Economics and Energy here. Read it