European leaders have stepped up their efforts to get to grips with the economic impact of the rapidly spreading coronavirus after the German government unveiled a package of measures to help affected companies and €12.4bn in state investment.
Olaf Scholz, finance minister, pledged that Germany was prepared “to do everything needed to stabilise the economy and secure jobs”, adding that it would “ensure that there is always enough liquidity available for business”.
EU leaders are due to hold a conference call on Tuesday to discuss their response to the virus. Ursula von der Leyen, European Commission president, said on Monday that it was considering all options to help the economy.
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