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☆ International Elections 2024: What You Need to Know
▼ + stars: | 2024-03-21 | by ( The New York Times | ) www.nytimes.com time to read: +4 min

International Elections 2024: What You Need to KnowRussia U.K. United States E.U. Mexico India Indonesia 900M South Africa 90M Voting-age population Russia U.K. United States E.U. Mexico India Indonesia 900M 90M South Africa Voting-age population Russia U.K. United States E.U. Upcoming Elections India Prime Minister Narendra Modi, a divisive figure who has aggravated the religious and ethnic fault lines in the hugely diverse country, is seeking a third term. United States A rematch between President Biden and former President Donald J. Trump adds another layer of uncertainty to the global political landscape.

Persons: Narendra Modi, Mahamat Idriss Déby Itno, Paul Kagame, Biden, Donald J, Trump Organizations: United, Africa, Russia U.K, India, National Congress, European, Party, Lithuanian Christian Democrats, Conservative Party, Labour Party Locations: Russia, United States, Mexico India Indonesia, Mexico, India, South Africa, Venezuela, Sudan, Panama, Chad, Europe, Rwanda, Austria, Lithuania, Sri Lanka

☆ 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

☆ Former German Spy Chief Founds New Right-Wing Party
▼ + stars: | 2024-02-17 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

By Thomas Escritt and Sarah MarshBERLIN (Reuters) - A former German spy chief who was sacked after being accused of averting his eyes to the threat posed by the far-right founded a new right-wing party on Saturday, holding an inaugural party congress on a boat near Germany's old capital Bonn. The Werteunion, or Values Union, is headed by Hans-Georg Maassen, who was dismissed as head of Germany's Office for the Protection of the Constitution (BfV) in 2018. A former member of the opposition Christian Democrats, Maassen is himself now being monitored by the security agency he ran, he said last month. Maassen said on social media platform X, posting a photo of himself and colleagues in front of a German flag on the boat. Earlier this year, leftist politician Sahra Wagenknecht founded a new left populist party.

Persons: Thomas Escritt, Sarah Marsh BERLIN, Hans, Georg Maassen, Maassen, Heinrich XIII Prince Reuss, Sahra Wagenknecht, Sarah Marsh, Matthias Williams, Sharon Singleton Organizations: Values, Christian Democrats, Social Democrats Locations: Bonn, Germany, Chemnitz

☆ Germany's Scholz Calls for Completion of EU Capital Markets Union
▼ + stars: | 2024-01-28 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

Berlin (Reuters) - German Chancellor Olaf Scholz called on Sunday for the European Union to complete its creation of a banking and capital markets union so the bloc can compete with the U.S. and China for new technologies. The plan to create a single market for capital has been on the table since 2015 without any real progress. Scholz also called for a minimum tax rate for companies of 15% to be introduced in all EU countries. "Isn't that possibly also the basis for the banking and capital markets union to work?" The heads of EU institutions called for a strengthened euro and progress towards a capital markets union in a joint appeal in December.

Persons: Olaf Scholz, Scholz, Andreas Rinke, Maria Martinez, Andrew Cawthorne Organizations: Berlin, European Union, U.S, Social Democrats Locations: China, Berlin, Europe, EU

☆ Video of crowd’s fascist salute in heart of Rome rattles Italy – but not its prime minister
▼ + stars: | 2024-01-13 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +7 min

The MSI party grew from the ashes of Benito Mussolini’s National Fascist Party after it was dismantled at the end of World War II when the dictator was deposed and killed. Gotor and Rocca laid a wreath at a monument to the fallen activists, but left before the fascist salute was carried out, their offices told CNN. Nor are fascist memorabilia or gestures like the fascist salute illegal, something that critics say must change. A witness who lives on the street where the commemoration took place told CNN that it happens every year, including with the fascist salute. Berizzi said that “in this moment neo-fascist groups feel protected by Meloni’s silence, her ambiguity.

Persons: Rome, Giorgia Meloni, Franco Bigonzetti, Francesco Ciavatta, Stefano Recchioni, “, ”, Benito Mussolini’s, Meloni, Francesco Rocca, Miguel Gotor, Gotor, Rocca, Elly Schlein, ” Schlein, Noemi Di Segna, Antonio Tajani –, Silvio Berlusconi –, Meloni wasn’t, ” Maria Calderone, ” Paolo Berizzi, Berizzi, Ewan MacPhee, ” MacPhee Organizations: Rome CNN, Italian, Acca, Italian Social Movement, MSI, Fascist Party, Democratic Party, CNN, ”, Union of Italian, Forza Italia, Facebook, La Repubblica, Italy’s, Operations, Social Democrats Locations: Rome, Italy, Lazio, “, Italian, Germany, Europe, Ukraine, Strasbourg

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

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

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

☆ Germany slides deeper into budget crisis. Here's what you need to know
▼ + stars: | 2023-11-23 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

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

German Chancellor Olaf Scholz attends as Italian Prime Minister Giorgia Meloni speaks during a news conference at the Chancellery in Berlin, Germany, February 3, 2023. With Scholz from the centre-left Social Democrats and Meloni from the rightist Brothers of Italy, the two leaders and their governments make for unlikely allies. These include the construction of a pipeline to transport gas and hydrogen between the two countries and approaches to tackle illegal migration. The German stance on illegal migration has converged more with the Italian one. In the plan, Berlin and Rome pledge to enhance regular dialogue - for example through meetings of their defence and foreign ministers - and coordinate more closely on key policies in general.

Persons: Olaf Scholz, Giorgia Meloni, Christian Mang, Giorgia, Scholz, Meloni, India's, Angelo Amante, Andreas Rinke, Sarah Marsh, Nick Macfie Organizations: REUTERS, Italian, Social Democrats, Meloni, Reuters, Thomson Locations: Berlin, Germany, BERLIN, Italy, Europe, Ukraine, Albania, Rome, France

☆ 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

☆ 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

☆ 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

☆ 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

[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

Pedro Nuno Santos poses for a portrait between the legislators of Socialist party and left bloc inside Portuguese parliament in Lisbon, Portugal June 21, 2016. The resignation also left Costa's job as secretary-general of the Socialist Party (PS) up for grabs, and whoever wins the leadership race will run for prime minister. Although Nuno Santos' popularity was hurt after he resigned in December 2022 in a scandal around a severance payout by state-owned airline TAP, he is seen as the front-runner by many. Nuno Santos successfully coordinated support for a previous minority government with the far-left in 2015-2019. Reporting by Catarina Demony and Sergio Goncalves; Editing by Andrei Khalip and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Persons: Pedro Nuno Santos, Rafael Marchante, Antonio Costa, illegalities, Marcelo Rebelo de Sousa, Jose Luis Carneiro, Carneiro, Nuno Santos, pollsters Aximage, Costa, Adelino Maltez, Costa's, Intercampus, Catarina Demony, Sergio Goncalves, Andrei Khalip, Andrea Ricci Organizations: Socialist, REUTERS, Rights, Socialist Party, Interior, TAP, Diario, Socialists, Social Democrats, Thomson Locations: Lisbon, Portugal, Rights LISBON, Portuguese

☆ 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 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 Its Ukraine Military Aid Under Scholz Plan -Bloomberg News
▼ + stars: | 2023-11-11 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

(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. Germany's Ministry of Defense could not be immediately reached for comment. 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 Gregorio)

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

☆ Portuguese Central Bank to Assess Governor's Conduct - Local Media
▼ + stars: | 2023-11-11 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

LISBON (Reuters) - The Bank of Portugal's ethics committee will meet on Monday to evaluate the conduct of governor Mario Centeno, whose independence came into question after the departing prime minister proposed him as a potential replacement, local media said. Local media reported that Centeno had agreed to let his name go forward, raising concerns that his links to the PS remained strong and calling into question his independence if he remained central bank governor. Rebelo de Sousa rejected Costa's proposal and called the election instead. Centeno's quick move from the finance ministry to the central bank in July 2020, during Costa's second term, had previously raised eyebrows. A central bank spokesperson said it was up to the committee to comment on the matter.

Persons: Mario Centeno, Antonio Costa, illegalities, Marcelo Rebelo de Sousa, Costa, Rebelo de Sousa, Centeno, Costa's, Joaquim Miranda Sarmento, Negocios, Catarina Demony, Sergio Goncalves, Kevin Liffey Organizations: Bank, Socialist, European Central Bank policymaker, Local, Social Democrats, Eco, Jornal Locations: LISBON

Andre Azevedo Alves, political science professor at Lisbon's Catolica University and St Mary's University in London, said the corruption investigation was a "very strong blow" to any PS ambitions. Analysts agree the PSD is likely to come out on top, but doubt its ability to build enough support to form a stable government. "Assuming the likelihood that the PSD will not have (enough) votes to form a government without Chega... we may go from one political crisis to another," Alves said. Waiting for a bus in central Lisbon, Ana Bernardino, 23, vented her concerns about the political outlook. "It is a political crisis and in my opinion it's a bit frustrating that elections are being held again...I'm a bit afraid."

Persons: Marcelo Rebelo de Sousa, Antonio Costa, illegalities, Costa, Costa's, Intercampus, Andre Azevedo Alves, Andre Ventura, Luis Montenegro, Alves, Antonio Barroso, Ana Bernardino, Maria Ines Ferreira, Catarina Demony, Miguel Pereira, Patricia Rua, Andrei Khalip, Nick Macfie, Angus MacSwan Organizations: Socialist Party, Social Democrats, Lisbon's Catolica University, St Mary's University, PSD, Chega, Liberal Initiative, CDS, Thomson Locations: Belem, LISBON, Portugal, London, Lisbon, Europe

By law, an election needs to be held within 60 days of the publishing of the presidential decree dissolving parliament. "I hope that time, sooner rather than later, will allow us to clarify what happened," Rebelo de Sousa said. By calling the March election, Rebelo de Sousa also addressed the need of the PS to pick a new leader to run. Earlier, PS President Carlos Cesar said March would be the best timing, while other parties pointed to January or February. "It is urgent to reestablish trust and prestige in democratic institutions," the leader of the PSD, Luis Montenegro, said after the president announced the election.

Persons: Marcelo Rebelo de Sousa, Rebelo de Sousa, Antonio Costa, illegalities, Costa, Rebelo, Mario Centeno, Filipe Garcia, Mercados, Carlos Cesar, Andre Ventura, Luis Montenegro, Catarina Demony, Sergio Goncalves, Andrei Khalip, Marguerita Choy, Alistair Bell Organizations: Lawmakers, Socialist, Socialist Party, of State, Prosecutors, Bank of Portugal, Social Democrats, PSD, Thomson Locations: LISBON, Portugal, Portuguese, Lisbon, Belem, Europe, Western, Montenegro

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