’This crisis is really new for us’

Dr Andreas Freytag, Chair of Economic Policy Image: Jürgen Scheere (University of Jena) Economist Andreas Freytag on the extent of the corona crisis and why he does not think much of corona bonds Goods are not being produced, products not bought, services not used - large parts of the global economy are currently at a standstill. What does this massive cutback mean for our economic system? In this interview, economist Andreas Freytag assesses the extent of the crisis and explains what mistakes we should avoid and what opportunities we should take advantage of - and why he doesn't think much of corona bonds. Mr. Freytag, you were abroad during the initial outbreak of the pandemic. Were you able to return to Germany without major complications? How have you experienced your time in quarantine? I was in South Africa at the University of Stellenbosch for several weeks, to work on two major projects as part of my honorary professorship there. The first week there went quite normally but after 15 March, it became very quiet in the city because the South African government then took very strict measures to contain the pandemic (when only about 60 cases of infection were identified in the country). Despite the access to German news media, I had trouble assessing the situation in Germany. To return, however, was still somewhat uncomplicated at that time.