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☆ German budget crisis tests limits of its 'debt brake'
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +3 min

The ruling has sent budget talks into disarray and sparked calls within Chancellor Olaf Scholz's coalition to suspend a constitutionally enshrined "debt brake" that sets legal limits on borrowing. WHAT IS THE DEBT BRAKE AND WHY WAS IT INTRODUCED? HAS GERMANY SUSPENDED ITS DEBT BRAKE BEFORE? Some analysts say the debt brake is ripe for reform and a more flexible fiscal policy would let governments take on more debt to fund much-needed investments. The government is still weighing options, including suspending the debt brake or curtailing spending.

Persons: Kai Pfaffenbach, Chancellor Olaf Scholz's, Angela Merkel's, Christian Lindner, Carsten Brzeski, Philippa Sigl, Robert Habeck, Riham Alkousaa, Holger Hansen, Matthias Williams, Christina Fincher Organizations: REUTERS, Rights, Finance, Reuters, Thomson Locations: Frankfurt, Germany, GERMANY, Ukraine

German Chancellor Olaf Scholz's coalition unveiled in July a strategy toward de-risking Germany's economic relationship with China, calling Beijing a "partner, competitor and systemic rival". German investment in Asia excluding China is rising as a share of overall investment. "No company is going to say that it will leave China," said Sandra Ebner, senior economist at Union Investment, Germany's second-largest fund manager. "But what companies are increasingly doing is to produce in China for China and to position themselves around China for the remaining Asian or global market." In July, German Economy Minister Robert Habeck travelled to India with a delegation of executives to discuss opportunities for German companies.

Persons: Thomas Nuernberger, Nuernberger, Olaf Scholz's, Volker Treier, Munk, Ferdinand Munk, Scholz, Angela Merkel's, Martin Brudermueller, Max Zenglein, Juergen Matthes, Markus Horn, Matthias Bianchi, Joe Biden, Wolfgang Niedermark, Jan Roennfeld, Roennfeld, Sandra Ebner, BDI's Niedermark, Robert Habeck, Christoph Steitz, Sarah Marsh, Maria Martinez, Aditya Kalra, Sarita Chaganti Singh, Xinghui, Orathai, Brenda Goh Organizations: Reuters, Commerce and Industry, Volkswagen, Mercedes, Benz, BASF, IW Institute, Big, Mercator Institute for China Studies, Economic Institute, Horn, German Association of, Indonesian Chamber of Commerce, Union Investment, Thomson Locations: FRANKFURT, BERLIN, Berlin, Beijing, China, Taiwan, India, Asia, Germany, Europe, Vietnam, South Korea, Indonesia, South China, European, Thailand, United States, Mexico, Indonesian, Eastern Germany, Malaysia, Frankfurt, New Delhi, Xinghui Kok, Singapore, Bangkok, Shanghai

☆ Berlin needs to get its act together after state election results, former Siemens CEO says
▼ + stars: | 2023-10-12 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Joe Kaeser delivers a speech during the Siemens Annual Shareholders' Meeting on February 3, 2021 in Munich, Germany. Pool | Getty Images News | Getty ImagesThe results of two state elections in Germany sent "a clear message" to Berlin that the government needs "to get their act together," Joe Kaeser, chairman of the Supervisory Board at Siemens Energy, told CNBC. The execution I think is something which has potential for improvement," Kaeser, the former CEO of Siemens, said in an interview with CNBC's Annette Weisbach Tuesday. The far-right Alternative for Germany (AfD) party gained votes in the two key regions. The AfD's candidate in Hesse, Robert Lambrou, had anticipated that voters would swing toward his party, saying that people were "heavily disappointed by the policy of the government."

Persons: Joe Kaeser, CNBC's Annette Weisbach, Angela Merkel's, Robert Lambrou, Kristalina Georgieva Organizations: Siemens, Getty, Board, Siemens Energy, CNBC, Conservative, Christian Democratic Union, CDU, Christian Social Union, Social Democrats, Greens, Free Democrats, IMF Locations: Munich, Germany, Berlin, Hesse, Bavaria, Germany's

☆ The rise of Germany's most successful far-right party since the Nazis
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +2 min

BERLIN, June 7 (Reuters) - Following are some of the key moments in the rise of the Alternative for Germany (AfD), the country's' most successful far-right party since the Nazis were in power. The party wants Germany to quit the euro and reintroduce the Deutsche Mark. 2015 - The party shifts right during Europe's migration crisis, causing some of the original founders to quit. As the only party to criticise Chancellor Angela Merkel's open-door policy that let in hundreds of thousands of migrants, it sees support rise steadily. 2021 - Germany's BfV domestic spy agency service places the AfD under surveillance on suspicion of trying to undermine Germany’s democratic constitution.

Persons: Chancellor Angela Merkel's, Bjoern Hoecke, Chancellor Olaf Scholz's, Sarah Marsh, Madeline Chambers, Edmund Blair Organizations: Deutsche, Chancellor Olaf Scholz's Social, Thomson Locations: BERLIN, Germany, Turkey, Thueringen, Russia

☆ Germany is finally focusing on defending NATO, but its military 'lacks almost everything' it needs to do it, a former German general says
▼ + stars: | 2023-05-07 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

That's the warning from a former German general who argues that Germany must refurbish its badly neglected armed forces — though this will take years to accomplish. Today, the German military is just 183,000-strong, and it can't meet its recruiting goals. In 2020, German defense spending was only 1.4% of GDP, well short of 2% goal that NATO members have pledged to hit by 2024. "Armament procurement concentrated on armored transport vehicles rather than on battle tanks and infantry fighting vehicles," Vad writes. RONNY HARTMANN/AFP via Getty ImagesDespite years of calls by France for pan-European defense, coordinating German defense procurement with other EU states — each with distinct military needs and political priorities – is difficult.

BERLIN, April 26 (Reuters) - Germany's domestic spy agency on Wednesday classified the youth organisation of far-right party the Alternative for Germany (AfD) as an extremist entity that threatens democracy, as authorities seek to combat a widespread rise in extremism. Germany's spy agency on Wednesday classified two other organisations, the Institute for State Policy and "One Percent", as extremist entities pursuing aims against the constitution. The spy agency said that the Young Alternatives wanted a society that was as ethnoculturally homogeneous as possible, designated migrants of non-European origins as fundamentally impossible to integrate and warned of the destruction of "organically grown European peoples". It is now Germany's most successful far-right party since World War Two and is currently polling just a few percentage points behind the Greens and the ruling Social Democrats (SPD). "We have seen that the whole discussion about extreme right tendencies has not hurt the AfD," said Guellner.

[1/5] A general view shows the Neckarwestheim nuclear power plant, as Germany shuts down its last nuclear power plants in Neckarwestheim, Germany, April 14, 2023. Following years of prevaricating, Germany pledged to quit nuclear power definitively after Japan's 2011 Fukushima disaster sent radiation spewing into the air and terrifying the world. Germany's commercial nuclear sector began with the commissioning of the Kahl reactor in 1961: eagerly promoted by politicians but met with scepticism by companies. With the end of the atomic power era, Germany has to find a permanent repository for around 1,900 highly radioactive casks of nuclear waste by 2031. The government also acknowledges that safety issues remain given that neighbours France and Switzerland still depend heavily on nuclear power.

☆ Jump or be pushed: German conservatives turn on ex-Nazi hunter over race comments
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Jan 30 (Reuters) - Once he was Germany's top Nazi hunter. Now the conservative opposition want to kick former domestic security chief Hans-Georg Maassen out of their party for allegedly repeating anti-Semitic and racist tropes. But the long-time member and one-time parliamentary candidate of former Chancellor Angela Merkel's Christian Democrats (CDU) lost that job after being accused of ignoring video evidence of far-right gangs chasing immigrants in riots. Maassen, who has always strongly denied charges of racism, did not immediately respond to a request for comment. Under German party democracy laws introduced to prevent the re-emergence of dictatorial parties like Hitler's Nazis, expulsion can only follow a series of quasi-judicial hearings to establish whether a member is in conflict with the party's values.

This week she was arrested in a raid as part of a group suspected of plotting to violently overthrow the German government. Prosecutors have said the 58-year-old, a member of the far-right Alternative for Germany (AfD) party, was to become justice minister in a new state headed by aristocrat Heinrich XIII Prinz Reuss after the coup. The AfD said in a statement on Wednesday that it condemned the efforts of the suspected plotters. The inscription 'To the German people' is written above the entrance to the Reichstag building, the seat of Germany's lower house of parliament Bundestag, in Berlin, Germany December 9, 2022. Nationwide it is polling at 14%, making it the most successful far-right party in Germany since World War Two.

☆ Factbox: Far-right attacks, scandals in Germany
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

Following are some of the far-right attacks and scandals that have shaken Germany in recent years:Jan. 2021 - Far-right sympathiser Stephan Ernst is handed a life sentence for shooting dead pro-immigration conservative politician Walter Luebcke who was found lying in a pool of blood outside his home in western Germany in 2019. Luebcke had been an outspoken supporter of former Chancellor Angela Merkel's decision in 2015 to let in refugees. June 2020 - German defence minister disbands company of its elite KSK special forces after a scandal over its links to far-right radicals. The attacker, a 27-year-old German, fatally shoots a woman outside the synagogue and a man inside a nearby kebab shop. An official report later says police had "massively underestimated" the risk of far-right violence and that missteps had allowed the cell to go undetected.

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