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Germany didn't get to this point overnight, however — in ways, the roots of the current crisis even predate the pandemic. The government took on emergency debt to try to stem the impact the pandemic had on its budget through a temporary debt brake suspension. And so, the current coalition government decided to re-allocate it to finance policies aimed at climate change and a greener, more sustainable economy. Some observers (and several Green party members), have suggested that the climate crisis is as much of an emergency as the pandemic. But the court's ruling stands, and Germany's budget now has a 60-billion-euro ($65 billion) hole.
Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Sean Gallup, Germany didn't, fumbling, Jan Techau, Mujtaba Rahman, Jens Larsen Organizations: Finance, Getty, Greens, Free Democratic Party, Eurasia Group Locations: Berlin, Germany
The decisions by Washington and Berlin come as the Western allies help Ukraine prepare for a possible spring counter-offensive to try to drive Russia out of territory it has seized. Kremlin spokesman Dmitry Peskov said any Abrams shipments would be a waste of money as they "burn" like other tanks in Ukraine. The total cost of a single Abrams tanks can vary, and can be over $10 million per tanks when including training and sustainment. "I am certain that many experts understand the absurdity of this idea," the Kremlin's Peskov said about the Abrams tanks. "The United States was willing to make a significant commitment to assist them in making theirs," the source said.
One tank Kyiv really wants is the German-made Leopard, but it hasn't been able to get them. These formidable main battle tanks would provide a massive firepower boost on the battlefield. Ukraine is getting many of the items on its wish list, but it hasn't been able to get its hands on the German-made Leopard tanks it wants. The country's president previously said he wanted to send the tanks to Ukraine as part of an "international coalition." Fast, mobile, and well-armedThe Leopard 2 is Germany's main battle tank developed by defense firm Krauss-Maffei Wegmann.
China is a trade partner but Germany has to be careful, Economy Minister Robert Habeck told CNBC's Tanvir Gill. Germany is open to strengthening ties with China but would need to remain cautious on where any investment goes, the country's Economy Minister and Vice Chancellor Robert Habeck said. That's not saying we are a stupid market, so we have to be careful," Habeck told CNBC's Tanvir Gill Saturday in Singapore. Habeck's comments come after German Chancellor Olaf Scholz made a controversial solo trip to China to meet President Xi Jinping in early November. Habeck also told CBNC which industries should and should not form closer bonds with China, saying there are some sectors "which are not open for sale."
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