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☆ Germany should legalize abortion up to 12 weeks, a government commission recommends
▼ + stars: | 2024-04-15 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +4 min

Berlin CNN —Germany should overturn its 150-year old ban on abortions and make terminations legal within the first 12 weeks of pregnancy, a government-appointed panel of experts said on Monday. The procedure is de-criminalized up to 12 weeks of pregnancy, but anyone seeking a termination must attend a compulsory counselling session followed by a mandatory three-day waiting period. After 12 weeks, abortions are only allowed in exceptional circumstances, such as if the pregnancy or birth poses a risk to the mother’s physical or mental health. “(The commission’s) recommendations provide a good basis for the open and fact-based conversation that is now necessary,” German Minister for Family Affairs Lisa Paus said in a statement on Monday. The proposals from Prime Minister Donald Tusk’s party would legalize abortion up to 12 weeks, a move more in line with some Western European countries.

Persons: Liane Woerner, “, Lisa Paus, Karl Lauterbach, ”, Donald Tusk’s, Andrzej Duda, Roe, Wade Organizations: Berlin CNN —, Reproductive, Social Democratic Party, SPD, Greens, Free Democrats, University of Constance, German Federal Statistical Office, Christian Democratic Union, Central Committee, Bishops ’ Conference, Family, German, Law, Justice Locations: Berlin CNN — Germany, Germany, France

☆ Germany's refusal to send 'Taurus' missiles to Ukraine is highly contentious — but won't break the government
▼ + stars: | 2024-03-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

One key concern is that Ukraine may need on-the-ground help from German soldiers to work the Taurus missiles — a red line for Scholz. Since last November, the CDU has repeatedly tabled votes on sending Taurus missiles to Ukraine in Germany's parliament and failed. Annalena Baerbock, Green party foreign secretary, meanwhile, discussed Taurus missiles with U.K. foreign minister David Cameron. Separately, a high-profile Green party MP joined forces with a prominent CDU politician to pen an op-ed advocating for the delivery of Taurus missiles. "Unfortunately the Taurus debate keeps sucking up all the oxygen in the room, repeating itself over and over again.

Persons: Olaf Scholz, Macron, Tusk, Christoph Soeder, Scholz, Chancellor Scholz, Frank Sauer, Annalena, David Cameron, Ulrike Franke, MBDA, Matthias Balk, Sauer, Franke Organizations: Polish, Federal, Getty, Taurus, Bundeswehr, Russia, Christian Democrats, Free Democrats, Greens —, Scholz's Social Democrats, CDU, Greens, Social Democrats, University of, Metis Institute for Strategy, Foresight, CNBC, European Council, Foreign Relations Locations: Ukraine, Germany, Russia, Germany's, Taurus, Bundeswehr Munich, Green, Swedish, Berlin

☆ Germany’s far-right AfD face mounting protests over plan to deport migrants
▼ + stars: | 2024-01-20 | by ( Sophie Tanno | Nadine Schmidt | ) edition.cnn.com time to read: +6 min

Protests of up to 30,000 people have already taken place in cities including Berlin, Leipzig, Rostock, Essen and Cologne. Demonstrators gathered outside the capital’s redbrick town hall on Wednesday holding placards reading “Nazis out” and chanting slogans against far-right AfD politician Björn Höcke. The gathering of AfD members, neo-Nazis and other far-right extremists took place at a lakeside hotel outside the city of Potsdam on November 25. The AfD told CNN that the two “separated with mutual agreement.”However, the idea of a “mass deportation plan” was openly supported by one AfD representative in the state of Brandenberg. Sebastian Christoph Gollnow/picture alliance/dpa/Getty ImagesAsked whether he thought the protests would encourage people to stop voting for the AfD, Abaci was hopeful.

Persons: Björn Höcke, Annalena Baerbock, Olaf Scholz, Sebastian Christoph Gollnow, Correctiv, ”, Alice Weidel, Roland Hartwig –, René Springer, Christian Dürr, Rika von Gierke, “, ” “, ’, It’s, ” Kazin, ” Chancellor Scholz, Baerbock, Abaci, Scholz, Robert Habeck, Stern, –, Nadine Schmidt, Sophie Tanno Organizations: Berlin CNN, Potsdam Sunday, CNN, Free Democrats Party, ” Locations: Germany, Berlin, Leipzig, Rostock, Essen, Cologne, Potsdam, Brandenberg, Frankfurt, Hamburg, Nazi, Thuringia, Saxony, Brandenburg, London

He is expected to have dinner on Sunday with fellow leftist, German Chancellor Olaf Scholz, before the consultations on Monday. Scholz was the first foreign leader to visit Lula in Brazil, just weeks after his inauguration. The German Chancellor has been on a quest since taking office in late 2021 to improve ties with the Global South. Scholz will be hoping to avoid a scenario like in January when his visit to Brazil was overshadowed by differences over Russia's invasion of Ukraine. Lula last month said Israel was "committing terrorism" against Palestinians "by not taking into account that children are not at war, that women are not at war".

Persons: Luiz Inacio Lula da Silva, Ueslei Marcelino, Lula, Jair Bolsonaro, Olaf Scholz, Scholz, Lukas Koehler, Israel, Andreas Rinke, Sarah Marsh, Toby Chopra Organizations: Central Bank, REUTERS, Rights, Global, European Union, Mercosur, Brazil, EU, Free Democrats, U.S, Latin America, German, Thomson Locations: Brasilia, Brazil, Berlin, America, Germany, China, South, Argentina, Scholz's, Ukraine, Israel

☆ Lula in Berlin for First Brazil-Germany Talks in Eight Years
▼ + stars: | 2023-12-03 | by ( Dec. | At A.M. | ) www.usnews.com time to read: +2 min

Persons: Andreas Rinke, Sarah Marsh BERLIN, Luiz Inacio Lula da Silva, Lula, Jair Bolsonaro, Olaf Scholz, Scholz, Lukas Koehler, Israel, Sarah Marsh, Toby Chopra Organizations: Global, European Union, Mercosur, Brazil, EU, Free Democrats, U.S, Latin America, German Locations: Berlin, America, Brazil, Germany, China, South, Argentina, Scholz's, Ukraine, Israel

It's clear how that will end.”Germany’s constitutional court has voided some 60 billion euros ($65 billion) in spending for this year and next. Without yet another emergency declaration next year, the government would have to scramble to cover shortfalls of roughly 30 billion to 40 billion euros — plus 20 billion to 30 billion euros for 2025 — compared with earlier plans, according to Holger Schmieding, chief economist at Berenberg bank. The fallout has left Germany projected to be the worst-performing major economy this year, shrinking by 0.5%, according to the International Monetary Fund. That has led to calls from some to loosen the debt limits because they restrict the government's response to new challenges. Yet even some opposition state governors have said the debt limits should be loosened.

Persons: Chancellor Olaf Scholz, “ We've, Robert Habeck, “, ”, Holger Schmieding, Schmieding, Free Democrats doesn't, Kai Wegener Organizations: U.S, International Monetary Fund, Industry, Volkswagen, BMW, Mercedes, Benz, Seven, Social Democrats, Greens, Free Democrats, Christian Democrats, Berlin Locations: FRANKFURT, Germany, Ukraine, Russia, China, Berenberg, East Germany, Europe, Britain, U.S, Italy, Japan

☆ German government unveils budget fixes as way out of crisis
▼ + stars: | 2023-11-27 | by ( Christian Kraemer | ) www.reuters.com time to read: +5 min

The government said the spillover effects from the energy crisis that hit in 2022 after Russia's invasion of Ukraine and caused rocketing prices had created an emergency situation that justified suspending the debt brake. The leader of Scholz's SPD urged the government to consider suspending the debt brake next year, a move rejected in particular by the fiscally hawkish Free Democrats (FDP). "The debt brake must remain." The debt brake, introduced after the global financial crisis of 2008-2009, was first suspended in 2020 to help the government support firms and health systems during the COVID-19 pandemic. On Monday he stressed the need to give companies, which have been worried by the uncertainty caused by the budget crisis, clarity as quickly as possible.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Annegret, Olaf Scholz's, finalising, Scholz's, Christian Duerr, Bijan Djir, Christian Kraemer, Riham Alkousaa, Amir Orusov, Rachel More, Matthias Williams, Thomas Escritt, Alison Williams, Tomasz Janowski Organizations: Finance, Climate, REUTERS, Free Democrats, ZDF, Greens, Thomson Locations: Berlin, Germany, BERLIN, Ukraine, Sarai, East Germany

☆ German government to agree budget fixes as way out of crisis
▼ + stars: | 2023-11-27 | by ( Christian Kraemer | ) www.reuters.com time to read: +3 min

Chancellor Olaf Scholz speaks next to Finance Minister Christian Lindner and Economy and Climate Minister Robert Habeck during a hearing at Germany’s lower house of parliament Bundestag in Berlin, Germany, November 15, 2023. The budget would see Germany suspend its constitutionally enshrined debt brake for a fourth year in a row as Chancellor Olaf Scholz's government fights its way out of a crisis that has triggered warnings about growth and an industry exodus. "The debt brake must remain." The debt brake, introduced after the global financial crisis of 2008-09, was first suspended in 2020 to help the government support firms and health systems during the COVID-19 pandemic. On Monday he stressed the need to give companies, who have been worried by the uncertainty caused by the budget crisis, clarity as quickly as possible.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Annegret, Olaf Scholz's, finalising, Christian Duerr, Bijan Djir, Christian Kraemer, Riham, Matthias Williams, Alison Williams Organizations: Finance, Climate, REUTERS, Rights, Free Democrats, ZDF, Greens, Thomson Locations: Berlin, Germany, Sarai, East Germany

A constitutional court ruling on Nov. 15 against a budget manoeuvre to get around Germany's "debt brake" threw the financial plans of Chancellor Olaf Scholz's coalition into disarray. "As I have long been saying, we must fear that the debt brake becomes ever more a brake on the future," said Berlin mayor Kai Wegner on social media platform X. "The debt brake was implemented when Europe had a debt sustainability issue and Germany wanted to lead by example," he said. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. The Greens' campaign programme ahead of the last election included debt brake reform to allow for greater investments.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Chancellor Olaf Scholz's, Reiner Haseloff, Haseloff, Kai Wegner, Friedrich Merz, Carsten Brzeski, Roderich Kiesewetter, Stefan Marschall, Andreas Rinke, Sarah Marsh, Matthias Williams, Holger Hansen, Nick Macfie Organizations: Climate, Finance, BERLIN, U.S, Intel, Reuters, AAA, Christian Democratic Union, CDU, Christian Social Union, CSU, Berlin, Free Democrats, Social Democrats, Greens, ING, SPD, University of Duesseldorf, Thomson Locations: Berlin, Europe's, Ukraine, Saxony, Anhalt, United States, Bavarian, Federal, Germany, Europe, France, Italy, Spain, China

☆ Support for Germany's Greens falls amid budget crisis, poll shows
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] Germany's Greens party co-leaders Omid Nouripour, Ricarda Lan, German Economy and Climate Protection Minister Robert Habeck and German Foreign Minister Annalena Baerbock applause during the 49th Greens party convention in Rheinstetten, near Karlsruhe, Germany, November 25, 2023. REUTERS/Wolfgang... Acquire Licensing Rights Read moreFRANKFURT, Nov 26 (Reuters) - The Green Party's popularity with voters has fallen to its lowest in over five years, a poll showed on Sunday, as Germany's coalition government grapples with a big hole in its budget. A weekly poll conducted by the INSA institute for the Bild am Sonntag newspaper showed 73% of respondents were dissatisfied with the federal government. "The coalition falls to 34%, 18 percentage points less than in the 2021 federal election," said INSA's head Hermann Binkert. "At the moment it does not look like the SPD or the Greens will be able to lead the government after the 2025 general election."

Persons: Omid Nouripour, Ricarda Lan, Robert Habeck, Annalena, Wolfgang, Annalena Baerbock, Hermann Binkert, Olaf Scholz, Emma, Victoria Farr, Christina Fincher Organizations: Germany's Greens, Climate, German, 49th Greens, REUTERS, The Greens, Social Democrats, Free Democrats, SPD, Greens, CDU, CSU, Thomson Locations: German, Rheinstetten, Karlsruhe, Germany, FRANKFURT

The court ruling has called into question Germany's traditionally strict fiscal policy and sparked warnings that German companies could be starved of support to keep them globally competitive. HANDS TIEDThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. A poll by broadcaster ZDF suggested only a minority of Germans supported suspending the debt brake. Some 57% wanted the budget shortfall from the court ruling to be covered by spending cuts, 11% favoured tax increases and 23% wanted the state to take on additional debt.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Scholz, Lindner, Habeck, Steffen Hebestreit, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra, Gareth Jones, Deepa Babington Organizations: Climate, Finance, BERLIN, Greens, Social Democrats, Free Democrats, FDP, ZDF, Thomson Locations: Germany, Europe's, East Germany, China

☆ Germany Announces Special Budget to Avert Crisis
▼ + stars: | 2023-11-23 | by ( Melissa Eddy | ) www.nytimes.com time to read: +1 min

How We Got Here: A court ruling put spending plans into disarray. The move came after days of uncertainty triggered by the ruling from the country’s highest court that declared elements of the 2023 budget invalid because of a rule that limits borrowing. Mr. Lindner, who leads the fiscally conservative Free Democrats party, has vowed to abide by the borrowing limits for the 2023 budget. “No new debt will be taken on, but the funds already used to overcome the crisis will be placed on a secure legal basis,” Mr. Lindner said in a statement on Thursday. Economists and business leaders, as well as some lawmakers from Mr. Scholz’s three-party coalition, demanded Mr. Lindner take action to clarify spending plans for 2023 to ensure stability and clear the way for lawmakers to approve a budget for 2024.

Persons: Lindner, Mr, Olaf Scholz, Scholz’s Organizations: Free Democrats Locations: Ukraine

☆ Pressure mounts on German government to find way out of budget hole
▼ + stars: | 2023-11-22 | by ( Holger Hansen | ) www.reuters.com time to read: +4 min

The court ruled the budget manoeuvre was incompatible with the debt restrictions enshrined in Germany's constitution. The pressure is even more intense as talks for next year's budget are on the final stretch. Highlighting the gravity of the situation, the government has already imposed a freeze on most new spending commitments on ministries. "German industry is looking at the current political situation with the greatest concern," said Siegfried Russwurm, president of the BDI industry association. One obstacle to reforming the debt brake, which restricts Germany's structural budget deficit to the equivalent of 0.35% of gross domestic product, has been Finance Minister Christian Lindner.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Chancellor Olaf Scholz's, Siegfried Russwurm, Holger Hansen, Christian Kraemer, Andreas Rinke, Madeline Chambers, Miranda Murray, Alex Richardson Organizations: Finance, Climate, Europe's, Social Democrat, Greens, Free Democrats, Fund, Reuters, Ukraine, Greens Economy, U.S, Intel, European, Thomson Locations: BERLIN, reallocating, Berlin, Ukraine

Their options include drawing up a supplementary budget for 2023 and suspending Germany's self-imposed debt brake before reinstating it for next year. "Our goal is to discuss the budget quickly but with due care," said a joint statement of ruling party lawmakers. The delay has heightened uncertainty about spending in all areas of the German economy and meant the 2024 budget might not be concluded before the end of the year. "I firmly assume that the commitments for Intel and TSMC will remain," a government source said, adding: "This is very important to the chancellor, as well as to the economy minister." This will happen in the course of next early 2024 and we will see how far hydrogen is available," CEO Miguel Lopez said.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Olaf Scholz's, Scholz's, Siegfried Russwurm, TSMC, Scholz, Miguel Lopez, Holger Hansen, Christian Kraemer, Victoria Waldersee, Andreas Rinke, Madeline Chambers, Matthias Williams, Miranda Murray, Alex Richardson, Christina Fincher Organizations: Finance, Climate, Government, Ukraine Industry, Intel, TSMC, Wednesday, Social Democrat, Greens, Free Democrats, Fund, Eurasia Group, U.S, BMW, Volkswagen, Thomson Locations: TSMC BERLIN, Germany's, Ukraine, EU, Saxony, Anhalt, Berlin, Germany

☆ Analysis-Scholz's Coalition Buckles but Unlikely to Break - for Now
▼ + stars: | 2023-11-21 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +6 min

The decision has increased tensions within Chancellor Olaf Scholz's coalition, in particular between junior partners the Greens and the Free Democrats (FDP). But Scholz is unlikely to call for new elections as they would not benefit any of the coalition partners. "Scholz definitely wants to keep the government together and believes this will work as none of the three coalition partners stand to benefit from a break," a source close to the chancellor said. "In reality, the chancellor should dismiss his coalition partners now." "And the strength of the AfD is also the reason why no actors - not even the conservatives - currently have any interest in new elections."

Persons: Sarah Marsh, Holger Hansen, Andreas Rinke BERLIN, Chancellor Olaf Scholz's, Philipp Tuermer, Scholz, Stefan Marschall, Ursula Muench, Frank Decker, Friedrich Merz, Markus Soeder, Decker, Andreas Rinke, Alexander Ratz, Catherine Evans Organizations: Greens, Free Democrats, Scholz's Social Democrats, Tagesspiegel, Bertelsmann Foundation, SPD, University of Duesseldorf, University of Tutzing, Bonn University, Eurasia Group Locations: Ukraine, Germany, Bavarian

☆ Germany freezes new spending commitments as budget woes deepen
▼ + stars: | 2023-11-21 | by ( Holger Hansen | ) www.reuters.com time to read: +3 min

Chancellor Olaf Scholz speaks next to Finance Minister Christian Lindner and Economy and Climate Minister Robert Habeck during a hearing at Germany’s lower house of parliament Bundestag in Berlin, Germany, November 15, 2023. The finance ministry has frozen future spending pledges across almost the entire federal budget, a letter by the budget state secretary showed, in a sign of how seriously it was taking the potential fallout to its finances. "The step reflects the necessity of the situation," an economy ministry spokesperson said about the budget freeze. That could include planned chip factories, the expansion of the battery supply chain and the decarbonisation of steel, government sources said on Monday. ($1 = 0.9168 euros)Additional reporting by Andreas Rinke; writing by Matthias Williams and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Annegret, Freeze, Olaf Scholz's, Kevin Kuehnert, that's, Kuehnert, Volker Wissing, Wissing, Andreas Rinke, Matthias Williams, Sharon Singleton Organizations: Finance, Climate, REUTERS, BERLIN, Free Democrats, Democrats, CDU, Scholz's Social Democrats, Greens, Digital, Thomson Locations: Berlin, Germany, Ukraine

The government is considering whether to suspend Germany's constitutionally enshrined debt brake as a way out of the spending crunch, a source told Reuters, while a leading member of Scholz's own party also called for such a move. Habeck said he was not proposing to abolish Germany's constitutionally enshrined debt brake, but added that "it is inflexible". We are now being forced to modernize the economy with fewer public subsidies," he told the Bild am Sonntag newspaper. "Rather, it is the unsound and unconstitutional budget policy of the federal government and the (three-way) coalition. "One possibility could be to suspend the debt brake in 2023 ... but then not in 2024.

Persons: Robert Habeck, Minister Christian Lindner, Chancellor Olaf Scholz's, Germany's, Lindner, Habeck, Sebastian Brehm, Markus Wacket, Christian Kraemer, Matthias Williams, Miranda Murray, Ed Osmond, Paul Simao Organizations: Minister, Reuters, Greens, Free Democrats, CDU, CSU, Thomson Locations: United States

☆ Exclusive: German court ruling could hit growth next year - econ ministry source
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 17 (Reuters) - A German court ruling that forced Berlin to freeze 60 billion euros ($65 billion) in planned green investment spending could have a negative impact on growth in Europe's biggest economy, an economy ministry source told Reuters on Friday. "According to initial rough estimates, a loss of investment funds could cause growth in 2024 to be about half a percentage point lower," the source, who is familiar with the economy ministry's forecasts, said. "So the ruling could have a negative impact on economic growth," the source added. Last month, the economy ministry predicted 1.3% growth for next year. The economy ministry is run by the Greens, who share power with Scholz's Social Democrats (SPD) and the pro-business Free Democrats (FDP).

Persons: Chancellor Olaf Scholz's, Christian Lindner, Andreas Rinke, Miranda Murray, Madeline Chambers, Sabine Wollrab Organizations: Greens, Scholz's Social Democrats, Free Democrats, Thomson Locations: Berlin, Europe's

The economy and finance ministry declined immediate comment. "So the ruling could have a negative impact on economic growth," the source added. Last month, the economy ministry predicted 1.3% growth for next year. Although the Greens want additional spending, the Free Democrats (FDP), which heads the finance ministry, reject additional debt and higher taxes. "There is a clear political decision in favour of Intel and nothing has changed yet," said an economy ministry spokesperson on Friday.

Persons: Liesa, Olaf Scholz's, Christian Lindner, Chancellor Olaf Scholz's, Joerg Kraemer, Robert Habeck, Habeck, Friedrich Merz, Christian Haase, Commerzbank's Kraemer, Maria Martinez, Andreas Rinke, Holger Hansen, Christian Kraemer, Madeline Chambers, Matthias Williams, Clarence Fernandez, Gerry Doyle, David Evans Organizations: REUTERS, Rights, Thursday, Greens, Free Democrats, Transformation, Intel, U.S, Christian Democratic Union, ESF, Economic, Stabilization, Thomson Locations: Berlin, Germany, Europe's

☆ Germany's budget committee pauses 2024 budget deliberations -panel members
▼ + stars: | 2023-11-17 | by ( Maria Martinez | Thomson Reuters | Maria Martinez Is A Reuters Correspondent In Berlin Covering German Economics | ) www.reuters.com time to read: +4 min

REUTERS/Liesa Johannssen/File Photo Acquire Licensing RightsBERLIN, Nov 17 (Reuters) - Germany's budget committee paused final deliberations on the 2024 draft budget early on Friday morning, according to the chief budget officers of the coalition government, after a constitutional court ruling threw negotiations into disarray. The contents of the ministries' budgets were finalised during the committee meeting, the budget officers said. On Wednesday, the constitutional court decision prompted the government to postpone the formal vote of the budget committee until next Thursday. Despite the court ruling, the 2024 budget is expected to be passed as planned at the end of the Bundestag's budget week on Dec. 1, according to members of the budget committee. The chief budget officers of the coalition government accused the opposition of refusing to cooperate in budget deliberations.

Persons: Liesa, Chancellor Olaf Scholz's, Joerg Kraemer, Friedrich Merz, Commerzbank's Kraemer, Maria Martinez, Holger Hansen, Clarence Fernandez, Gerry Doyle Organizations: REUTERS, Rights, Greens, Free Democrats, European Commission, dpa, Bundestag's Energy, CDU, CSU, Christian Democratic Union, ESF, Economic, Stabilization, Thomson Locations: Berlin, Germany, Ukraine

[1/3] FILE PHOTO: German Chancellor Olaf Scholz looks on as he meets NATO's Secretary General Jens Stoltenberg in Berlin, Germany, November 9, 2023. Wednesday's decision by the constitutional court could also set a precedent for fiscal responses to future crises. "FAR-REACHING CONSEQUENCES""The court ruling has far-reaching consequences for fiscal policy in Germany," said Clemens Fuest, President of the Ifo economic institute. This was done with the Second Supplementary Budget Act 2021, which retroactively amended the Budget Act for 2021. The constitutional court ruled that this act was incompatible with Germany's Basic Law and so was void.

Persons: Olaf Scholz, Jens Stoltenberg, Liesa, Chancellor Olaf Scholz's, Christian Lindner, Lindner, Scholz, Robert Habeck, Clemens Fuest, Ralph Solveen, Habeck, Friedrich Merz, Maria Martinez, Christian Kraemer, Ursula Knapp, Matthias Williams, Kirsti Knolle, Madeline Chambers, Susan Fenton, William Maclean, Catherine Evans Organizations: REUTERS, Rights, Finance, Union, Social Democrats, Free Democrats, Christian Democratic Union, Thomson Locations: Berlin, Germany, Ukraine

☆ German Court deals blow to Scholz government with budget ruling
▼ + stars: | 2023-11-15 | by ( ) www.cnbc.com time to read: +1 min

Germany's constitutional court ruled on Wednesday that the government's re-allocation of 60 billion euros ($65 billion) of unused debt from the pandemic era to a climate fund was illegal, dealing a blow to Chancellor Olaf Scholz's coalition. This was done with the Second Supplementary Budget Act 2021, which retroactively amended the Budget Act for 2021. The constitutional court ruled that this act was incompatible with Germany's Basic Law and so was void. In addition, the government changed the accounting principal by which borrowing counted against the budget deficit in the year the borrowing was actually done. "The court ruling has far-reaching consequences for fiscal policy in Germany," said Clemens Fuest, President of the Ifo economic institute.

Persons: Chancellor Olaf Scholz's, Christian Lindner, Clemens Fuest Organizations: Social Democrats, Greens, Free Democrats Locations: Germany

☆ German Court Says Government Cannot Shift Covid Funds to Climate Projects
▼ + stars: | 2023-11-15 | by ( Melissa Eddy | More About Melissa Eddy | ) www.nytimes.com time to read: +2 min

Why It Matters: A Restraint on Germany’s Green Ambitions. The Climate Transformation Fund has €212 billion dedicated to projects from 2024 to 2027. The court ruled that it must now be reduced by €60 billion, the money added from unused pandemic funds. Heart of the Issue: Germany’s ‘Debt Brake’Germany is the only leading industrial economy to have a so-called debt brake written into its constitution. “The circumvention of the debt brake is becoming increasingly absurd,” said Marcel Fratzscher, head of the German Institute for Economic Research, a Berlin-based think tank.

Persons: ”, Marcel Fratzscher, — Organizations: €, German Institute for Economic Research, Social Democrats, Greens, Free Democrats Locations: Germany, Berlin, Ukraine

☆ Germany set to double its Ukraine military aid under Scholz plan, Bloomberg reports
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +1 min

German Chancellor Olaf Scholz delivers a speech on the day of the opening of an electrolysis gigafactory in Berlin, Germany November 8, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsNov 11 (Reuters) - German chancellor Olaf Scholz's governing coalition has agreed to double German military aid for Ukraine next year to 8 billion euros ($8.54 billion), Bloomberg News reported on Saturday, citing people familiar with the matter. Lawmakers of Scholz's Social Democrats, the Free Democrats and the Green party agreed on the increase in negotiations over the proposed 2024 federal budget this week, Bloomberg News reported. A European Union plan to spend up to 20 billion euros ($21.4 billion) on military aid for Ukraine was met with resistance from EU countries. ($1 = 0.9362 euros)Reporting by Gursimran Kaur in Bengaluru; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Olaf Scholz, Annegret, Olaf Scholz's, Gursimran Kaur, David Gregorio Our Organizations: REUTERS, Bloomberg, Atlantic Treaty Organization, Scholz's Social Democrats, Free Democrats, Green, Bloomberg News, Germany's Ministry of Defense, Thomson Locations: Berlin, Germany, Ukraine, Germany's, Bengaluru

☆ Germany set to double Ukraine military aid
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

German Chancellor Olaf Scholz delivers a speech on the day of the opening of an electrolysis gigafactory in Berlin, Germany November 8, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsFRANKFURT, Nov 11 (Reuters) - German chancellor Olaf Scholz's governing coalition has agreed in principle to double the country's military aid for Ukraine next year to 8 billion euros ($8.5 billion), a political source in Berlin said on Sunday. Defence minister Boris Pistorius, interviewed by broadcaster ARD, referred to the planned doubling of military aid to Ukraine. "Doubling the military spending is both the right thing to do and important," it quoted member of parliament Andreas Schwarz, who acts as an SPD military budget official, as saying. A European Union plan to spend up to 20 billion euros ($21 billion) on military aid for Ukraine is meeting with resistance from EU countries, diplomats said this week.

Persons: Olaf Scholz, Annegret, Olaf Scholz's, Boris Pistorius, Andreas Schwarz, Gursimran Kaur, Holger Hansen, Vera Eckert, David Gregorio, Kirsten Donovan, Giles Elgood Organizations: REUTERS, Rights, Atlantic Treaty Organization, Scholz's Social Democrats, Free Democrats, Green, Bundestag, Bloomberg News, Germany's Ministry of Defence, ARD, Thomson Locations: Berlin, Germany, Ukraine, Bengaluru, Frankfurt

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