German Finance Minister Lindner has been on the wires stating "Our aim is to avoid lockdown as much as possible. We want to keep social activity as much as we can."
There's nothing new in German ministers coming out against 'traditional' lockdowns, we've heard plenty of it over the weekend. However this "as much as possible" appears to be a softening of the anti-lockdown stance in my humble opinion.
As we have seen in previous rounds of lockdowns, Govts find it much easier to switch on the restrictions if and when their neighbours make the decision to do so.
With the recent German growth downgrades (Bundesbank issued a warning this morning that the economy could shrink in Q4), this puts both the Dax and Eur at risk of downside pressure.
