German Chancellor Angela Merkel’s coalition government has struck a deal to extend the scheme by another yearGermany has extended its furlough scheme until the end of 2021 despite reservations in Angela Merkel’s party about the cost, which may exceed €30 billion. It is expected to take until late next year or early 2022 to regain the lost ground. A total of 6.7 million workers, including one in three employees in the totemic industrial sector, were on furlough at the peak of the turmoil inflicted by lockdown. The number is thought to have fallen to about 5.2 million by late July. The Kurzarbeit (short-time work) scheme, which has roots in the early 20th century and

Source: The Times August 26, 2020 11:03 UTC