Germany leads EU’s pandemic recovery 
-----------------------------------------
Germany’s €1.64 trillion “bazooka” of emergency measures protected most companies, preventing a wave of insolvencies and mass lay-offs, according to Bruegel, an economic think tank
-----------------------------------------
Fiscal response to pandemic (€ billions) 
Totals €00.0bn 

Immediate fiscal impulse – additional government spending
Deferrals – payments of taxes, social security contributions 
Other liquidity provisions and guarantees – credit lines
        
Germany 456.2 251  932.5 €1,639.7bn

Italy 61.3 235.3 571 €867.6bn

France 106 210 342 €658.0bn

UK 116.1 45.3 364.9 €526.3bn

Denmark  55.9 165 66 €286.9bn

Spain 45.7 / 9.7 / 114.4 €169.8bn 

Netherlands         29.7 / 64 / 26.6 €120.3bn

Belgium         3.1 / 13 / 50 €66.1bn 

Portugal         5.2/23.3/11.7 €40.2bn 

Greece*         5.9 / 2.3 / 4 €12.2bn

Hungary*         0.59 / 1.1 / 0 €1.69bn 

United States  1,726.2 499.2 498.3 €2,723.7bn


*Bars not to scale
-----------------------------------------
July 1: Germany assumes EU presidency – Chancellor Angela Merkel’s first priority is to broker deal on post-pandemic recovery fund
-----------------------------------------
Sources: Bruegel, Financial Times Picture: Getty Images © GRAPHIC NEWS