Per RTRS: "Chancellor Angela Merkel's.......>

GERMANY: Per RTRS: "Chancellor Angela Merkel's ruling coalition on Wednesday

agreed a bumper stimulus package... "The size of the package will amount to

EUR130bn for the years 2020/2021, 120bn of which will be spent by the federal

government," Merkel said... Germany's measures, which together with liquidity

aid and loan guarantees equal more than 30% of its economic output, go

substantially beyond any other national emergency programmes launched by other

euro zone countries. Merkel said VAT will be reduced from 19% to 16% for six

months starting in July 1. A lower VAT rate for hospitality of 7% would be

lowered by two points over the same period. The package also includes at least

EUR10bn a year to help municipalities struggling with lower tax receipts with

public spending on infrastructure and housing. The sheer scale of Germany's new

spending splurge has raised concerns among officials from economically weaker

countries that the discrepancy in aid measures could worsen imbalances in the

bloc and distort the European Union's single market. The measures also include a

one-time, EUR300 stipend per child to help families as well as a doubling of

incentives to promote the sale of electric cars."