German Companies' Nationalization Due To COVID-19 Outbreak Exceptional Scenario - Minister

Nationalization of Germany's strategically important companies due to economic impact of the coronavirus disease (COVID-19) outbreak could be possible only in exceptional cases, Peter Altmaier, the federal minister for economic affairs and energy, said on Friday

BERLIN (UrduPoint News / Sputnik - 13th March, 2020) Nationalization of Germany's strategically important companies due to economic impact of the coronavirus disease (COVID-19) outbreak could be possible only in exceptional cases, Peter Altmaier, the Federal minister for economic affairs and energy, said on Friday.

"This can be imagined in very rare, exceptional situations. Today I do not see the need for that," Altmaier said at a press conference, answering a relevant question.

The minister also told Spiegel newspaper in an interview that the ministry would make every effort to avoid the situation when economically stable companies were at risk of bankruptcy only because of the epidemic.

Germany is among the European countries with the highest number of confirmed coronavirus infection cases - some 2,400 people tested positive and five died as of Friday. As part of the government intervention measures to contain the spread, all mass public gatherings across Germany have been recommended to be suspended.