World Teamsport Germany for adjustment of the economic stimulus package

18:20  22 october  2020
18:20  22 october  2020 Source:   motorsport-total.com

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Should Germany enter a deep recession after the pandemic is contained, a debt-financed spending package to get the economy growing again would be needed, according to a New data on Tuesday acted as a reminder for how devastating the virus-fighting measures are for Germany ’s economy .

Time for stimulus . Brzeski said Germany needs a "two-pillar stimulus package " comprising a short-term stimulus and an increase in the "long-run growth potential." This stimulus will have to go beyond state measures such as "bank bailouts, scrapping and short-time working" which were

The five major team sports have suggested a modification of the 200 million euro sport stimulus package of the federal government. The five leagues and associations from basketball, handball, ice hockey, soccer and volleyball spoke in a video conference on Thursday in favor of raising the aid ceiling per club from 800,000 euros to one million and extending the application deadline to June 2021. This was reported by Andreas Michelmann, spokesman for the "Teamsport Germany" interest group, the SID.

Modifizierung des Sport-Konjunkturpakets wird gefordert © Provided by AFP Modification of the sport stimulus package is required

"This is what we need to survive our professional leagues," said Michelmann, who is also President of the German Handball Federation (DHB). As the Federal Ministry of the Interior informed the SID, 25,651,483.64 euros had been requested by October 19, of which only 7,435,505.46 euros had been approved. Michelmann said, however, that the majority of the clubs have applied for help or are still planning to do so.

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Answers to frequently asked questions about Economic Impact Payments (coronavirus stimulus checks). These questions and answers will be updated periodically. An official website of the United States Government.

Like the first stimulus check, the second stimulus check will be reduced by for every 0 of adjusted gross income above those income limits until ,000 of adjusted According to Mnuchin and Director of the U.S. National Economic Council Larry Kudlow, the 0 a week unemployment

problems, according to Michelmann, exist in the application especially for third division soccer teams and in ice hockey. Because of their business model, some of them are out of the question, "although everyone knows that in professional sport it is normal that you have emptied your budget at the end of the season and it will fill up again at the beginning of the next season," says Michelmann. According to Michelmann, the EU guideline also applies to these clubs, which states "that you are not allowed to support any companies that are otherwise economically endangered. Many of them do not fit one to one."

According to his statement, the fact that clubs are currently not allowed to apply for more than 800,000 euros leads to the comparatively low sum of around 25.6 million euros. "If such an ice hockey club or a third division has a loss in viewer income of 7.6 million, but can only apply for 800,000 euros, it is clear that when added up, it means that not 200 million are accessed but only 50 or 60, "he said. The deadline for applications is currently 31 October. Until then, Michelmann predicted an increase in the number of applications submitted: "That is already increasing substantially."

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