Germany extends its furlough scheme until end of 2021

Germany has extended its furlough scheme until the end of 2021 despite reservations in Angela Merkel’s party about a bill that may exceed €30 billion. The measure is intended to buy time for the economy to recover after GDP contracted by 11.7 per cent over the first six months of this year. It is expected to take until late next year or early 2022 to regain the lost ground.