German Bundestag approves law amendment to contain Covid spread

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Berlin, Nov 19 | Germany’s Bundestag, the country’s lower parliament, approved amendments to the infection protection act in order to contain the accelerating spread of Covid-19.

The changes to German infection law presented by the coalition partners Social Democratic Party (SPD), the Greens and the Free Democratic Party (FDP) introduce so-called 3G rules, which stands for vaccinated, recovered or tested, at work as well as in local and long-distance public transport, reports Xinhua news agency.

Many established health measures, such as the mandatory use of masks and distance regulations, could be continued, according to the German government.

Employees were encouraged to work from home again if possible. The regulations are scheduled to be in effect nationwide until March next year.

Tougher measures such as 2G rules which only allow vaccinated and/or recovered people to attend cultural events as well as bars and restaurants could be continually implemented by federal states depending on the Covid-19 situation.

Despite record infection numbers and hospitals filling up with Covid-19 patients, further curfews, accommodation bans or area-wide closures of stores, schools and restaurants or sports facilities are not possible under the amendment.

The coalition parties defended the new law in the Bundestag debate against criticism from the conservative union CDU/CSU.

“We are responding to the very difficult coronavirus situation with necessary and legally secure measures,” said SPD health expert Sabine Dittmar.

The draft bill would “not do justice to the dramatic nature of the situation”, said union faction vice chairman Stephan Stracke of the CSU.

The catalog of measures by the national government would be shortened.

He said it was a mistake not to prolong the so-called epidemic situation of national scope.

The draft law adopted by the Bundestag must now be approved by the Bundesrat, upper parliament, on Friday.

If the required majority is not reached in the Bundesrat, the next step could be for the mediation committee with representatives of the Bundestag and Bundesrat to try to find a solution.

Source: IANS

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Share Market Closing Bell: Nifty ends around 15,800, Sensex tanks 1,416 pts

Share Market Closing Bell: Nifty ends around 15,800, Sensex tanks 1,416 pts

On the back of Global Clues and SGX, Nifty opened on a gap down note & continued downside momentum throughout the day and closed the session at 15809.40 level with a loss of 430.90. However, Bank nifty closed the session at 33315.65 level with a loss of 848.05 points.

India VIX closed at 24.56 up by 10.13% which is a sign of more volatility in upcoming sessions.47 stocks out of NIFTY 50 closed in RED which suggest broad based selling. All the sectoral indices were ended in the red with metal, IT indices down 4-5 percent.

Despite one way fall, Stocks like ITC, DRREDDY, POWERGRID were the top gainers, While WIPRO, HCLTECH, INFY, TCS & TECHM were prime losers. On a daily chart, Nifty has formed a Bearish candle which indicates downside momentum for an upcoming session. Moreover, Nifty is showing support from horizontal line i.e., 15750 levels which is make or break level. In addition, Nifty has been sustained above the 21-Monthly Moving Average which indicates a bounce back from lower levels can be seen.

However, the momentum indicators MACD & Stochastic were trading with a negative crossover & trading in oversold zone which is a sign of sideways to negative trend in Nifty. The Nifty may find Strong support around 15700 levels, breaching below it can show more downside till 15500 levels while on the upside 16000 may act as an immediate hurdle. On the other hand, Bank nifty has support at 32800 levels while resistance at 34500 levels.

Palak Kothari
Research Associate
Choice Broking

Source: Choice India

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