Germany's Heil: Unlcear how long reserves for short-time work will last

"We might need to organise liquidity aid for short-time work scheme," German Labor and Social Affairs Minister Hubertus Heil said on Thursday and noted that it's unclear how long reserves for short-time work scheme will last.

"We have to assume we will have to deal with the virus for a long time," Heil added. "In Germany, millions of jobs are being secured thanks to the short-time work scheme."

Market reaction

These comments failed to provide a boost to the market sentiment and Germany's DAX 30 Index was last down 0.38% on the day at 11,065.77 points.