March 21, 2020 / 12:46 PM / 20 days ago

Germany considering 350 billion euros in new debt to counter crisis -sources

BERLIN, March 21 (Reuters) - The German government is readying stimulus measures requiring about 350 billion euros ($374 billion) in net new debt to counter the coronavirus crisis, several people familiar with the plans told Reuters on Saturday.

The package will include a supplementary government budget of about 150 billion euros, 100 billion euros for an economic stability fund that can take direct equity stakes in companies, and 100 billion euros in credit to public-sector development bank KfW for loans to struggling businesses, the sources said.

Final details of the measures are being discussed by ministers over the weekend, the sources added. ($1 = 0.9351 euros) (Reporting by Holger Hansen, Michael Nienaber, Christian Kraemer Writing by Ludwig Burger; Editing by Alexander Smith)

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