Germany planning to support medium-size firms by up to €50K per month – DPA

25 May 2020, 08:16 by Dhwani Mehta

Citing a German government document on Monday, Deutsche Presse-Agentur GmbH (DPA), reports that they are considering plans to support medium-size firms by up to €50,000 per month.

Key details

“Eligibility criteria: A company should have recorded at least a 60% y/y drop in sales for the months of April and May i.e. those largest hit by the virus impact.”

“The program is set to cost EUR25 billion by August with further costs set to depend on the virus developments in the country.”

EUR/USD holds the lower ground

Nothing seems to affect the shared currency amid holiday-thinned trading, with EUR/USD holding the lower ground near 1.0875 so far this Monday.