Germany's state finance minister commits suicide as coronavirus pandemic hits economy

The finance minister of Germany's Hesse state, Thomas Schaefer, committed suicide presumably after becoming "deeply worried" about how to deal with the economic downfall due to the coronavirus outbreak.

In Germany's financial capital Frankfurt, Hesse is home to most major lenders like Commerzbank and Deutsche Bank have their headquarters.

State premier Volker Bouffier confirmed the news on Sunday after 54-year-old Schaefer was found dead near a railway track on March 28.

"We are in shock, we are in disbelief and above all we are immensely sad," Bouffier said in a recorded statement.

After questioning witnesses and doing their own observations at the scene, the police came to a total conclusion that Schaefer did kill himself.

Bouffier was Hesse's finance chief for the past 10 years and had been working "day and night", trying to provide help towards companies and workers during the pandemic.

"Today we have to assume that he was deeply worried," Bouffier said.

"It's precisely during this difficult time that we would have needed someone like him," he added.

Just like Bouffier, Schaefer also belonged to Merkel's centre-right CDU party and was well-reputed and respected in his field. 

He was also thought to be Bouffier's prodigal successor in the near future.