Dear Sirs and Madames,
After a week in crisis mode, measures to slow down the corona pandemic have now been extended to all European countries. Not only is public life largely at a standstill, companies are also feeling the violent effects of the crisis.
Germany now wants to provide 600 billion to support the economy as state aid, in the United States it should even be a trillion US dollars.
In Germany, the auto industry, the chemical and pharmaceutical industries as well as electrical engineering will be affected to a great extent, but also the tourism industry.
The big question here is how long the state of emergency will last and when it will return to normal. The economy would be able to hold out for two or three weeks and regain momentum with government aid, but the problem will continue for longer. Virus researchers say it won’t be possible to return to normal mode until 2021.
Accordingly, the financial markets are correspondingly nervous and have suffered immense price losses, as an economic and financial crisis threatens an unprecedented scale and will question capitalism in its current form.
The CO2 emission rights have also suffered high losses and have lost a substantial 10 euros since the beginning of the corona crisis. In view of the market stability reserve, which is intended to counteract an abundance of allowances in phases of the recession, this seems unnecessary, but it cannot be ruled out that the EU could also create special regulations here.
In particular, the German Emissions Trading Authority has already announced that no measures will be initiated due to late compliance fulfillment of the duty to pay, insofar as this has not been carried out in good time, for example due to the illness of employees.
We wish you a pleasant working week and are available from your home office as usual during normal trading hours.
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With kind regards,
Advantag Services GmbH