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☆ Germany Attractive for Skilled Workers Despite Discrimination - OECD
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Germany is still an attractive destination for skilled workers from abroad, although migrants report racism and discrimination in everyday life, the Organisation for Economic Cooperation and Development (OECD) said on Wednesday. Having tracked the careers of 30,000 highly qualified people who wanted to come to Germany as migrant workers since August 2022, their willingness to move to the country had increased rather than decreased over the time, the OECD said. Some 92% of participants in its poll lived abroad and were still interested in moving to Germany, it added. However, people who had already moved to Germany reported more discrimination than expected before the move. "Experiences of discrimination are reported, especially when looking for accommodation and in public," the OECD's Thomas Liebig said.

Persons: Thomas Liebig, Holger Hansen, Bartosz Dabrowski, Rachel More Organizations: Reuters, Organisation for Economic Cooperation, Development, OECD Locations: 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

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

Lindner plans to lift self-imposed limits on borrowing and present a supplementary budget next week after a constitutional court ruling wiped billions from the federal budget and forced the government to freeze most new spending commitments. HANDS TIED IN A BOXING MATCHThe 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. A poll by the broadcaster ZDF suggested only a minority of Germans, 35%, supported suspending the debt brake however, compared to 61% wanting it to stay in place. 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: Christian Lindner, Lindner, hawkish Lindner, Chancellor Olaf Scholz's, Robert Habeck, Habeck, Thomas Gitzel, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra Organizations: BERLIN, German Finance, Greens, ZDF, Bank, Thomson Locations: Germany, China, Europe

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. 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. 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.

Persons: Christian Lindner, Fabrizio Bensch, Scholz, Olaf Scholz, Lindner, Robert Habeck, Habeck, Steffen Hebestreit, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra, Gareth Jones Organizations: REUTERS, BERLIN, Finance, Greens, ZDF, Thomson Locations: Berlin, Germany, Europe's, East Germany, China

Steel coils are waiting for delivery at the storage and distribution facility of German steel maker ThyssenKrupp in Duisburg, Germany, November 16, 2023. Scholz's three-way coalition is reeling from a court ruling last week that wiped 60 billion euros ($65 billion) from the budget at a stroke and forced it to freeze most new spending commitments, delaying talks on the 2024 budget. LOSS OF CONFIDENCEGermany's steel sector added its voice to the growing jitters, warning that the court ruling had put a question mark over more than 40 billion euros in planned investments. "I find it correct that the consequences of the constitutional court ruling ... are checked carefully," Scholz told a news conference. Scholz also described this as conceivable, participants at the meeting told Reuters, adding that the court ruling put the coalition into a difficult situation but it could be resolved.

Persons: Wolfgang Rattay, Chancellor Olaf Scholz, Robert Grundke, Bernhard Osburg, Osburg, Berlin, Scholz, Achim Post, Andreas Rinke, Christoph Steitz, Holger Hansen, Rene Wagner, Matthias Williams, Christina Fincher Organizations: REUTERS, Economic Cooperation, Development, Reuters, Scholz's Social Democrats, Thomson Locations: Duisburg, Germany, FRANKFURT, Paris, United States, decarbonisation

☆ 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

☆ 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

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

☆ 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

☆ Germany walks back plan to meet NATO spending target on annual basis
▼ + stars: | 2023-08-16 | by ( Holger Hansen | ) www.reuters.com time to read: +1 min

Banners displaying the NATO logo are placed at the entrance of new NATO headquarters during the move to the new building, in Brussels, Belgium April 19, 2018. REUTERS/Yves Herman/File Photo Acquire Licensing RightsBERLIN, Aug 16 (Reuters) - The German government has retreated from a plan to legally commit itself to meeting NATO's 2% military spending target on an annual basis, a government source told Reuters on Wednesday. The change means that Germany will be able to stick to its current pledge of meeting the 2% target on average over a five-year period. NATO allies have criticised Berlin strongly in the past for not spending 2% of its gross domestic product on defence annually. It is unclear whether Berlin will keep military spending over this threshold once a 100 billion euro ($101 billion) special fund to bring the Bundeswehr back up to standard is used up.

Persons: Yves Herman, Chancellor Olaf Scholz, " Scholz, Holger Hansen, Miranda Murray, Sabine Siebold, Friederike Heine, Rachel More Organizations: NATO, REUTERS, Rights, Reuters, Bundeswehr, Thomson Locations: Brussels, Belgium, Germany, Ukraine, Berlin

Germany's property sector is in stress, underscoring a major change of fortune for real estate in Europe's largest economy after an end to the era of cheap money. In the latest signs of stress in the sector, Germany's largest real estate group Vonovia (VNAn.DE) posted multi-billion euro losses and writedowns, and job growth for construction workers has stagnated. The property sector makes up roughly a fifth of economic output and one in ten jobs, according to the German Property Federation. The Ukraine war has also made German property seem riskier for foreign investors. The president of the German Property Federation, Andreas Mattner, is pressing the government to temporarily suspend a property sales tax and is demanding a low-interest rate credit program to support new residential building.

Persons: Kai Pfaffenbach, Sven Carstensen, Florian Schwalm, Olaf Scholz, Klara Geywitz, Andreas Mattner, Oliver Mueller, Matthias Inverardi, Holger Hansen, Friederike Heine Our Organizations: REUTERS, CARE, German Property Federation, Reuters Graphics Reuters, European Central Bank, Germany, German Construction Industry Federation, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, Kai Pfaffenbach FRANKFURT, United States, Sweden, Ukraine, East, Asia

☆ Factbox: European countries imposing windfall taxes on banks
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +4 min

But he and Finance Minister Bruno Le Maire have ruled out the possibility of a windfall tax. HUNGARYHungary's government has tweaked windfall taxes imposed on key sectors of the economy in a decree published in June, saying banks can reduce their 2024 windfall tax payments by up to 50% if they increase their Hungarian government bond purchases. ITALYItaly approved on Aug. 8 a one-off 40% tax on profits banks reap from higher interest rates and it plans to use the proceeds to help mortgage holders. LITHUANIALithuania's parliament approved in May a windfall tax on the banking industry's net interest income for 2023 and 2024 following a sharp rise in European Central Bank interest rates. It is expected to raise 6 billion Swedish crowns a year.

Persons: Ralph Orlowski, Emmanuel Macron, Bruno Le Maire, Christian Lindner, Alessandro Parodi, Matteo Allievi, Olivier Sorgho, Silvia Aloisi, Tom Sims, Holger Hansen, Marta Frąckowiak, Alexander Smith Organizations: Germany's Deutsche Bank, REUTERS, Finance, HUNGARY Hungary's, European Central Bank, Swedish Government, Thomson Locations: Frankfurt, Germany, Italy, CZECH REPUBLIC, Czech, France, GERMANY, HUNGARY, ITALY Italy, LITHUANIA, SPAIN Spain, SWEDEN, Britain

FRANKFURT, Aug 1 (Reuters) - Germany's property sector is under stress, prompting firms to call for government support, property developers to file for insolvency and share prices of landlords to plunge. Reuters GraphicsIt's just the latest in a flurry of indicators that show real estate in Germany is in a deep funk. "Many, many property developers at the moment are postponing projects or slowing them down," said Francesco Fedele, chief executive of BF.direkt, a property financing consultant. THE DAXVonovia, Germany's largest real estate group, serves as a bellwether for Germany's property sector. TRANSACTIONSGermany is the largest real estate investment market on the European continent.

Persons: Francesco Fedele, DAX Vonovia, Jones Lang LaSalle, Tom Sims, Holger Hansen, Ed Osmond Organizations: FRANKFURT, Reuters, Reuters Graphics, Stifel, Thomson Locations: United States, Sweden, Germany, Berlin, Frankfurt, Denmark, Europe

☆ Germany to buy 60 Chinooks for up to 8 bln euros -lawmakers
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

BERLIN, July 5 (Reuters) - Germany will buy 60 Chinook helicopters from Boeing (BA.N) in a package that will cost up to 8 billion euros ($8.7 billion), including necessary infrastructure for the aircraft, two members of the parliamentary budget committee told Reuters on Wednesday. The sum includes the procurement of the CH-47 heavy-lift helicopters for 6.27 billion euros, 700 million euros for service, 240 million euros for national contracts and 750 million euros for infrastructure, according to earlier information. Germany said it planned to buy 60 Chinook heavy-lift helicopters from Boeing last year to replace its ageing CH-53 fleet. Originally, 6 billion euros had been budgeted. German Chancellor Olaf Scholz shifted policy in February 2022 after Russia invaded Ukraine, sharply increasing defence spending and committing 100 billion euros for the Bundeswehr, Germany's armed forces.

Persons: Olaf Scholz, Sebastian Schaefer, Holger Hansen, Sabine Siebold, Friederike Heine, Emelia Organizations: Boeing, Reuters, Wednesday, Bundeswehr, Greens, Thomson Locations: BERLIN, Germany, Holzdorf, Berlin, Poland, Russia, Ukraine

☆ Rheinmetall could be worth 17 billion euros over medium term, CEO says
▼ + stars: | 2023-06-10 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 10 (Reuters) - The CEO of Germany's largest defence contractor Rheinmetall (RHMG.DE) said he expected a further boost to the company's stock market value due to the Ukraine war and increased defence spending in Europe. "Our operating income in 2025 should be about 1.5 billion euros ($1.6 billion), maybe even 1.7 billion euros. "A valuation of 17 billion euros is realistic for Rheinmetall over the medium term," he added. Rheinmetall's current stock valuation is about 10.5 billion euros, on 2022 operating income of 754 million euros. The stock market value of the company, a maker of tanks, ammunition and other war equipment, has tripled since December 2021 and it joined Germany's blue-chip DAX (.GDAXI) index earlier this year.

Persons: Armin Papperger, DAX, Christian Kraemer, Holger Hansen, Sabine Siebold, Kirsti Knolle, Madeline Chambers Organizations: Rheinmetall, RND, Thomson Locations: BERLIN, Ukraine, Europe

☆ Exclusive: German govt to slightly raise 2023 GDP forecast - sources
▼ + stars: | 2023-04-20 | by ( Holger Hansen | ) www.reuters.com time to read: +1 min

BERLIN, April 20 (Reuters) - The German government is set to slightly raise its economic growth forecast for this year to 0.4% from its previously predicted 0.2%, two sources told Reuters on Thursday. For 2024, the government will slightly lower its prediction, to 1.6% from the 1.8% foreseen in January, the sources said. An Economy Ministry spokesperson did not comment and said Economy Minister Robert Habeck would present the spring economic projections next Wednesday. With the new projections, the government is slightly more optimistic than the five economic institutes that prepare the Joint Economic Forecasts, which foresee 2023 economic growth of 0.3%. In the Joint Economic Forecasts, which are incorporated into the ministry's forecasts, the institutes predict inflation of 6.0% in 2023, before slowing to 2.4% in 2024.

☆ German public sector wage talks fail, enter truce phase
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

BERLIN, March 30 (Reuters) - German public sector employers and unions representing around 2.5 million workers entered a truce phase on Thursday after talks failed to resolve a wage dispute, days after the country's biggest strikes in decades. A third round of negotiations lasting three days ended late on Wednesday without result, the Verdi and dbb unions said. "Despite clear movement, the employers were not prepared to make sufficient concessions to the employees on the minimum amount," said Verdi chief Frank Werneke. The Interior Ministry announced on Twitter in the early hours of Thursday that the talks would enter arbitration, bringing an independent mediator to the table. Public sector employers have offered an 8% pay raise, or a minimum of 300 euros ($325) per month, Faeser said.

☆ Germany unveils immigration reform plan to tackle labour shortages
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +3 min

BERLIN, March 29 (Reuters) - Germany on Wednesday unveiled draft reforms on immigration, skills training and promoting immigration from Western Balkan countries, a bid by Chancellor Olaf Scholz's government to plug labour shortages in Europe's largest economy. "Securing our skilled labour base is one of Germany's biggest economic tasks for the coming decades," Labour Minister Hubertus Heil said. One of the reforms is a new immigration law that aims to address key hurdles for migrants to Germany, particularly for those coming from outside the European Union. The draft law, seen by Reuters, says the reform could increase the number of workers from countries outside the EU by 60,000 people a year. The opportunity card follows a points-based system that takes into account qualifications, language skills, professional experience, connection to Germany and age.

☆ Germany to send additional 12 billion euros in military support to Ukraine
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 29 (Reuters) - The German government has agreed to send an additional 12 billion euros ($13.01 billion) worth of military support to Ukraine. The additional funding includes 3.2 billion euros to be disbursed in 2023 and credit lines for the period between 2024 and 2032 amounting to some 8.8 billion euros. "With the money, Ukraine can directly buy armaments with the support of the German government," three politicians representing the coalition government on the committee said in a statement. "It is important to support Ukraine as long as necessary," they said. Since the start of the Russian invasion, the German government has made available more than 14.2 billion euros in support for Ukraine, according to the foreign office.

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