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☆ Germany sets early election date for February after collapse of the ruling coalition
▼ + stars: | 2024-11-12 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Germany is set to hold a federal election in February, earlier than Chancellor Olaf Scholz had originally proposed after his ruling coalition collapsed last week. The election is set to be held on February 23, according to sources within the parliamentary group of Scholz' social democratic party (SPD). It is a necessary step ahead of early elections in Germany as the chancellor must first call for the vote in parliament. Lindner was replaced by Jörg Kukies who was appointed as the new finance minister on November 7. Scholz' SPD and the Green party will form a minority government in Germany until the election in February.

Persons: Olaf Scholz, Joerg Kukies, Scholz, Christian Lindner, Chancellor Olaf Scholz, Lindner, Jörg Kukies Organizations: Bundestag, Authorities, Green Locations: Berlin, Germany

The three remaining ministers of the Free Democrats resigned in response, leading to the downfall of the government coalition. Scholz is expected to lead the country with a minority government, but the opposition is calling for an immediate no-confidence vote. Tobias Schwarz / AFP - Getty Images fileScholz’s left-leaning Social Democrats will now effectively lead a minority government with the remaining coalition partner, the environmentalist Greens. Lindner’s pro-business Free Democrats had rejected tax increases or changes to Germany’s strict self-imposed limits on running up debt. Scholz’s Social Democrats and the Greens wanted to see major state investment and rejected the Free Democrats’ proposals to cut welfare programs.

Persons: Chancellor Olaf Scholz, Christian Lindner, Scholz, Volker Wissing, Lindner, Frank, Walter Steinmeier, ” Scholz, Olaf Scholz, Tobias Schwarz, Friedrich Merz, Merz, “, ”, ” Merz, Achim Wambach, Donald Trump Organizations: Free Democrats, German Finance, AFP, Getty, Social Democrats, Greens, Christian Democrats, German Bundestag, Scholz’s Social Democrats, Leibniz Center for European Economic Research Locations: Berlin, German, Germany, “, Europe

CNN —Germany’s governing coalition has collapsed after disagreements over the country’s weak economy led Chancellor Olaf Scholz to sack his finance minister. The coalition has been at loggerheads over how to revive Germany’s economy. What problems is Germany’s economy facing? Germany’s economy, Europe’s largest, shrank last year for the first time since the onset of the Covid-19 pandemic. Party leader Alice Weidel has already hailed the coalition’s collapse as a “liberation” for Germany.

Persons: Chancellor Olaf Scholz, Christian Lindner’s, Scholz, Donald Trump, Europe’s, Angela Merkel, Gerhard Schröder, Merkel, Christian Lindner, Christoph Soeder, Friedrich Merz, Lindner, Liesa Johannssen, “ Lindner, ” Lindner, ”, Carsten Brzeski, “, Robert Habeck, Annegret Hilse, Merz, Alice Weidel, ” Weidel Organizations: CNN, Free Democrats Party, Scholz’s Social Democratic Party, SPD, Green Party, CDU, Trump, Social Democratic Party, Greens, ING, Volkswagen, CDU –, Christian Democratic Union, Party Locations: Germany, Germany’s, Nazi, Thuringia, France, Italy, Ukraine, China, ”

☆ Germany's government is on the brink of collapse — here’s what could happen now
▼ + stars: | 2024-11-04 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

Holger Schmieding, chief economist at Berenberg, noted that the three coalition partners have been acting "as if they were preparing to campaign against each other soon." Separately, the Green party's Robert Habeck, who is Germany's economy minister, proposed a policy plan to stimulate business investment that was criticized by the FDP. The Lindner paperAnother escalation took place on Friday, when Finance Minister Christian Lindner published a paper about reviving the struggling German economy. "The paper reads like a serious attempt to analyze Germany's problems and propose solutions. A hotly contested budgetA recent key issue within the coalition has been Germany's budget for 2025 — a topic that also features heavily in Lindner's paper.

Persons: Christian Lindner, Robert Habeck, Olaf Scholz, Sean Gallup, Chancellor Olaf Scholz's, Carsten Brzeski, Holger Schmieding, Scholz, Lindner, Greg Fuzesi, Morgan, Fuzesi, Berenberg's Schmieding Organizations: Climate, Bundestag, Getty, Chancellor Olaf Scholz's Social Democratic Party, SPD, Greens, Free Democratic Party, ING, FDP, Green, ZDF Locations: Berlin, Germany

☆ 'Western democracy is in a state of crisis,' German member of Parliament says
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Western democracy is in a state of crisis,' German member of Parliament saysNorbert Röttgen, German member of Parliament for the Christian Democratic Union party and member of the Bundestag Foreign Affairs Committee, discusses current security challenges for Western democracies.

Persons: Norbert Röttgen Organizations: Christian Democratic Union, Bundestag Foreign Affairs

☆ Israel’s weapons: Where do they come from and who supplies them?
▼ + stars: | 2024-10-16 | by ( Antoinette Radford | ) edition.cnn.com time to read: +7 min

CNN —The United States has warned Israel it may stop supplying the country with weapons unless the humanitarian situation in Gaza improves. This is not the first time Israel’s major ally has threatened to turn off supplies. Here’s a breakdown of who supplies Israel with weapons:The United States:The United States is overwhelmingly the biggest supplier of arms to Israel. In 2023 69% of Israel’s arm imports came from the US, according to a report into international arms transfers by the Stockholm International Peace Research Institute (SIPRI). Germany:While in 2023, Germany contributed 30% of Israel’s weapons, that supply has significantly reduced over the course of 2024.

Persons: Joe Biden, Benjamin Netanyahu, Hassan Nasrallah, Olaf Scholz, Kay Nietfeld, Israel “, Antonio Tajani, SIPRI, David Lammy, Gil Cohen, Pedro Sanchez, “, ”, Emmanuel Macron, Macron, CNN’s Mia Alberti, Christian Edwards, Inke Kappeler Organizations: CNN, United, Stockholm International Peace Research Institute, US State Department, Foreign Military, International Court, Justice, Bundestag, Pagella, Labour, MIM, Magen, Getty, Spanish Ministry of Foreign Affairs, European Union and Cooperation, Israel, Spanish, International Court of Justice Locations: United States, Israel, Gaza, Rafah, Stockholm, Germany, Italy, France, Spain, Beirut, Nicaragua, Nazi, United Kingdom, AFP, Lebanon

☆ German spy chief warns that suspected sabotage almost caused a plane crash when a parcel caught fire
▼ + stars: | 2024-10-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

The head of Germany's domestic intelligence service said a plane crash was narrowly avoided. A "lucky coincidence" meant a package caught fire on the ground instead of midflight, he said. German intelligence bosses warned of the growing threat from Russia in a parliamentary hearing. AdvertisementA plane crash was narrowly avoided when a package caught fire before being loaded on board, in what German intelligence suspects was an act of sabotage. Haldenwang said it was "only a lucky coincidence" that the package caught fire on the ground and not during the flight.

Persons: midflight, —, Thomas Haldenwang, Haldenwang, Vladimir Putin, didn't, Bruno Kahl Organizations: Service, Bundestag, Federal, RedaktionsNetzwerk, DHL, German Press Agency, Financial Locations: German, Russia, RedaktionsNetzwerk Deutschland, Leipzig, Germany

These are now the new realities on all of Germany’s land borders. On September 16, Berlin ordered the “temporary reintroduction of border control” at Germany’s borders with Belgium, Holland, Luxembourg, France and Denmark. The calls for more checks on Germany’s borders also mark a step-change at the heart of the European Union from Merkel’s policies. In 2015, the long-serving, and ever popular former German chancellor Merkel opened Germany’s borders to migrants fleeing their homes - at the time largely Syrians because of the country’s civil war. The moves by Merkel became known as Wilkommenskulturand and set Germany apart on the world stage in liberal migration policy.

Persons: ” Slubice, “, Tom Knie, Olaf Scholz, ” –, Angela Merkel, Patrick Pleul, Bjoern Hoecke, ”, Victory, Alice Weidel, Scholz, …, ” Raphael Bossong, Merkel, Maja Hitij, Knaus, ” Knaus Organizations: CNN, German Federal, European Union, Getty, German Institute of International and Security Affairs, Scholz’s Social Democratic Party, Police, “ Locations: Frankfurt, der, “ Frankfurt, ”, Polish, German Federal Republic, Poland, Germany, Berlin, Germany’s, Belgium, Holland, Luxembourg, France, Denmark, Austria, Czech Republic, Switzerland, Oder, Manheim, Solingen, Thuringia, East, Saxony, Brandenburg, “ Germany

☆ The German government owns around $2 billion in bitcoin — and it's freaking out crypto investors
▼ + stars: | 2024-07-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Bitcoin has also been under selling pressure from the German government as well as collapsed bitcoin exchange Mt. Last month, the German government began selling bitcoin from a wallet operated by the country's Federal Criminal Police Office, referred to locally as the Bundeskriminalamt, or BKA. Bitcoin price reactionIn tandem with these sales, bitcoin has seen its price fall dramatically. At one point in the day, the entire crypto market had shed more than $170 billion in combined market capitalization in a 24-hour period, CoinGecko's data showed. Germany's bitcoin sales aren't the only concern for crypto investors.

Persons: Bitcoin, it's, wasn't, bitcoin, —, Nobuaki Kobayashi, James Butterfill, CoinShares, Germany's BKA, Joana Cotar, Cotar, Olaf Scholz, Christian Lindner, Michael Kretschmer, she's, Samson Mow Organizations: Federal Criminal Police, Arkham Intelligence, CNBC, Saxony, Federal Criminal Police Office, German Bundestag Locations: Gox, bitcoin, Germany, Saxony, Federal Republic of Germany, German, Berlin

☆ Germany seals 2025 budget plan after weeks of tense negotiations
▼ + stars: | 2024-07-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

German Chancellor Olaf Scholz smiles during a question time on July 3, 2024 at the Bundestag (lower house of parliament) in Berlin. "It is about a strong defense, a strong [German army] that offers protection from the aggressive tyrants of our time. An economic growth initiative has been planned alongside the budget, Scholz said. But the budget must then be discussed by the German parliament after its summer break, before being finalized later in the year. Negotiations have been ongoing for weeks after spending plans shared by individual ministries exceeded constraints by billions.

Persons: Olaf Scholz, Scholz, Christian Lindner, Lindner Organizations: Bundestag, CNBC, NATO, German, Reuters Locations: Berlin

☆ Germany demands new citizens accept Israel’s right to exist
▼ + stars: | 2024-06-27 | by ( Sophie Tanno | ) edition.cnn.com time to read: +3 min

CNN —People applying for naturalization in Germany will now be required to affirm Israel’s right to exist, under changes to the country’s citizenship law. The country’s naturalization exam will now include a number of new questions, according to a statement from the interior ministry. “In response to increasing antisemitism in Germany, the list of questions in the naturalization test has been expanded. New exam questions have been added on the topics of antisemitism, the right of the state of Israel to exist and Jewish life in Germany,” it said. ‘A crystal clear red line’The legislation is being introduced nationwide after the eastern state of Saxony-Anhalt also required citizenship applicants to recognize Israel’s right to exist in December.

Persons: Chancellor Olaf Scholz, Lamya Kaddor, Nancy Faeser, ” Organizations: CNN, Israel, Green, Christian Democratic Union, CDU, Bundestag Locations: Germany, Berlin, Gaza, Israel, Europe, Saxony, Anhalt, German, RIAS

☆ Heinrich XIII Prince Reuss: German prince accused of leading coup plot goes on trial
▼ + stars: | 2024-05-21 | by ( Inke Kappeler | Sana Noor Haq | ) edition.cnn.com time to read: +2 min

Heinrich XIII Prince Reuss, 72, is accused of leading the plot, which would have led to him becoming Germany’s head of state. Birgit Malsack-Winkemann, a former judge, attends the Frankfurt trial on Tuesday. The former lawmaker allegedly led co-defendants around the Reichstag parliament to scout the site for a coup plot. In addition to the five judges, two others will be on standby for the Frankfurt trial in the event of a long-term absence. Malsack-Winkemann, an ex-lawmaker for the far-right Alternative for Germany (AfD) party, allegedly led several co-defendants around the Reichstag building scouting the location.

Persons: Heinrich XIII Prince Reuss, Birgit Malsack, Frank, Walter Steinmeier, Kai Pfaffenbach, Maximilian Eder, Ruediger von Pescatore Organizations: CNN, Bundestag, Reuters, Frankfurt, Public Locations: Frankfurt, German, Stuttgart, Munich, Germany, Hesse

☆ Opinion: We Germans are making Trump ‘thunderstorm’ plans
▼ + stars: | 2024-05-21 | by ( Opinion Anna Sauerbrey | ) edition.cnn.com time to read: +12 min

That’s scary.” If Trump is elected, Jörg is convinced, he would withdraw American troops from Europe and stop aid to Ukraine. Jim Bourg/AFP/Getty ImagesSix months ahead of the vote, this soccer field conversation reflects the German view of the US elections quite well. Kirill Kudryavtsev/AFP/Getty ImagesIt’s an optimistic view, based on the assumption that Trump will act rationally, as a deal-maker, if elected. What if Trump tries to take America out of NATO or creates a “dormant NATO,” a NATO existent only in name? Another Trump presidency would not only put Germany’s security at risk, but also manifest this view of the US for another four years.

Persons: Thomas Ernst Editor’s, Anna Sauerbrey, Read, ’, ”, Jörg, Miguel, Donald Trump, “, “ Trump, Trump, “ I’m, Piero, Joe Biden, Jim Bourg, Europe’s, Russia “, Olaf Scholz, Michael Kappeler, ” Scholz, mums, Annalena Baerbock, Greg Abbott, Biden, Kirill Kudryavtsev, George H, Bush’s, Barack Obama, Obama, Heinz M, Schahina Gambir, Gambir, Roe, Wade, Bob Parent Organizations: Zeit, Berlin CNN —, Köpenicker FC, CNN, Biden, Trump, Getty, NATO, Republican, European Union, European Central Bank, EU, ”, Dallas Mavericks, Mavericks, LA Clippers, NBA, Green, Bundestag Locations: Berlin, America, Taiwan, Europe, Ukraine, Italy, AFP, Gaza, Germany, Russia, United States, Trump, Texas, China, Poland, France, Frankfurt, Kabul, New York City, New York

☆ Germany far-right trial: Nine accused of plotting to overthrow government go on trial
▼ + stars: | 2024-04-29 | by ( Inke Kappeler | ) edition.cnn.com time to read: +2 min

CNN —Nine suspected members of a German far-right group accused of plotting to overthrow the government and install a minor royal as leader went on trial at a high-security courtroom in Stuttgart on Monday. The plot to overthrow the government and install martial law was exposed in 2022. Heinrich XIII Prince Reuss is a descendant of the House of Reuss, the former ruling family of parts of eastern Germany. Two of the defendants are accused of violating the Weapons and War Weapons Control Act. “One of these two defendants is also accused of attempted murder, dangerous bodily harm, resisting and assaulting law enforcement officers,“ according to the court.

Persons: Heinrich XIII Prince Reuss, —, Frank, Walter Steinmeier, of Reuss, “, General Organizations: CNN, Monday, Prosecutors, Bundestag —, Stuttgart Higher, Federal Public, Control Locations: Stuttgart, Germany, Frankfurt, Munich, German

☆ Germany joins legal cannabis club
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +2 min

Industrial hemp plants of the Futura 75 variety are kept in a specially secured room at the Hemp Museum. The law passed by Chancellor Olaf Scholz's ruling three-party coalition legalises cultivating up to three plants for private consumption and owning up to 25 grams of cannabis. Larger-scale, but still non-commercial, cannabis production will be allowed for members of so-called cannabis clubs with no more than 500 members, all of whom must be adults. Germany becomes the ninth country to legalise recreational use of the drug, which is also legal in some sub-national jurisdictions in the United States and Australia. Some legislators questioned whether the new regulations would have much impact on dealing, since those who are unwilling to grow their own cannabis or join a cannabis club may still prefer to buy the drug.

Persons: Chancellor Olaf Scholz's, Karl Lauterbach, Tino Sorge, Lauterbach Organizations: Futura, Hemp Museum, Germany, Friday, Bundestag Locations: Germany, United States, Australia

BERLIN (AP) — At least 150,000 people gathered in front of the German national parliament Saturday afternoon to protest against the far right, the latest in a string of large weekend demonstrations across Germany. Some members of the far-right Alternative for Germany party, or AfD, were present at the meeting. Saturday’s protest drew more participants than organizers expected, despite intermittent rain showers in the German capital. Similar protests against the far right in other German cities, including the southern city of Freiburg and the western city of Hannover, also drew thousands of attendees on Saturday. Polls show AfD is the top party in eastern Germany, including in the states of Brandenburg, Saxony and Thuringia, which are scheduled to hold elections this fall.

Persons: —, ”, Jonas Schmidt, Kathrin, Olaf Scholz Organizations: BERLIN, Germany, Police, Bundestag Locations: Germany, Freiburg, Hannover, Bremen, Brandenburg, Saxony, Thuringia, Hamburg, Munich

☆ Germany Can Cut Funding to Far-Right Party, Rules Court
▼ + stars: | 2024-01-23 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

KARLSRUHE, Germany (Reuters) - Germany can cut off state funding to the successor party to the far-right NPD even though it is not banned, the Constitutional Court said on Tuesday in a landmark ruling which adds fuel to a debate about whether the nationalist AfD could be penalised. The court in Karlsruhe justified its decision by saying the National Democratic Party (NPD) and its successor, Die Heimat, aimed to impair or eliminate the country's democratic system. The ruling is being closely watched as mainstream politicians struggle to respond to a surge in support for the far-right Alternative for Germany (AfD), second in most polls with support of about 22%. Hundreds of thousands of people have taken to the streets across Germany protesting against the AfD after a report that some party members discussed policies such as mass deportations of people of foreign origin at a meeting of right-wing radicals. (Reporting by Ursula Knapp; Writing by Madeline Chambers; Editing by Kirsti Knolle)

Persons: Ursula Knapp, Madeline Chambers, Kirsti Knolle Organizations: Constitutional, National Democratic Party, NPD Locations: KARLSRUHE, Germany, Karlsruhe, Bundestag

More than 1 million people attended protests across Germany over the weekend, showing their opposition to a right-wing political party that most recently discussed the deportation of large numbers of foreign-born residents. The demonstrations against the Alternative for Germany, or AfD, party, have now continued into a second week nationwide. What Is the Alternative for Germany Party? The anti-immigrant, far-right party, founded in 2013 and now led by the German politician Alice Weidel, has been gaining polling ground. What Does Recent German Polling Show?

Persons: –, Martin Sellner, Olaf Scholz, Alice Weidel Organizations: People, Bundestag, Reuters, Deutsche Welle, Christian Democratic Union, Germany Party, News Locations: Germany, Munich, Berlin, Europe, France, Potsdam –, Austrian, German, Nazi, Germany's, Thuringia, Saxony, Brandenburg, U.S

The demonstrations came in the wake of a report that right-wing extremists recently met to discuss the deportation of millions of immigrants, including some with German citizenship. Some members of the far-right Alternative for Germany party, or AfD, were present at the meeting. Additional protests planned for Sunday in other major German cities, including Berlin, Munich and Cologne, are also expected to draw tens of thousands of people. What started out as relatively small gatherings have grown into protests that, in many cases, are drawing far more participants than organizers expected. The protests also build on growing anxiety over the last year about the AfD’s rising support among the German electorate.

Persons: Germany’s, Martin Sellner, Alice Weidel, Chancellor Olaf Scholz, ” Scholz, ” Friedrich Merz, ”, Thomas Tuchel Organizations: BERLIN, Germany, Police, Hannover, Identitarian, Identitarian Movement, Austrian, Germany’s Greens, “, Christian, Bayern Munich Locations: Germany, Frankfurt, Stuttgart, Nuremberg, Hamburg, Berlin, Munich, Cologne, Nazi, Bavaria, Hesse, Brandenburg, Saxony, Thuringia, Dresden, Tuebingen, Kiel

☆ German Lawmakers Agree to Ease Path to Citizenship
▼ + stars: | 2024-01-19 | by ( Christopher F. Schuetze | ) www.nytimes.com time to read: +1 min

Lawmakers in Berlin approved legislation allowing shorter waiting periods before naturalization and the possibility of dual citizenship, ushering in changes that proponents say will draw more skilled workers to the country and that opponents warn will lessen the value of German citizenship. “Our reform is a commitment to a modern Germany,” Nancy Faeser, the country’s interior minister, said in a statement. “We are creating a modern immigration law that does justice to our diverse society,” she added, noting that it was high time for such a change. That waiting period can be reduced to three years for exemplary cases of integration or service to the German state. They will also allow dual citizenship, which currently is not widely allowed.

Persons: ” Nancy Faeser Organizations: Bundestag Locations: Berlin, Germany, Germany’s

☆ Opinion | The U.S. Lacks What Every Democracy Needs
▼ + stars: | 2024-01-16 | by ( Richard L. Hasen | ) www.nytimes.com time to read: +1 min

The history of voting in the United States shows the high cost of living with an old Constitution, unevenly enforced by a reluctant Supreme Court. Unlike the constitutions of many other advanced democracies, the U.S. Constitution contains no affirmative right to vote. Our problems are only going to get worse until we get constitutional change. The framers were skeptical of universal voting. The original U.S. Constitution provided for voting only for the House of Representatives, not for the Senate or the presidency, leaving voter qualifications for House elections to the states.

Organizations: U.S . Constitution, Canadian Charter of Rights, Freedoms, Bundestag, Constitution, Senate Locations: United States, U.S ., Canada, Federal Republic of Germany, U.S

Speaking to parliament, Scholz went into Germany's recent history of the COVID pandemic, the war in Ukraine and soaring energy prices to extend a suspension of self-imposed borrowing limits to tackle a crisis that has knocked his coalition. A constitutional court ruling nearly two weeks ago blocked the government's plans to reallocate unused pandemic funds towards green initiatives and industry support, raising fears Germany's economy could be further weakened. Scholz's assurances that his government would solve the budget crisis with care were met with jeers and laughter from the opposition Christian Democrats (CDU), whose lawsuit against the government had sparked the earlier court ruling. He underscored support for Ukraine, after the recent budget turmoil raised questions over how much military aid Berlin was willing to commit. "It is also clear that we must not let up in our support for Ukraine and in overcoming the energy crisis.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Friedrich Merz, Scholz, Germany's, Berlin, Scholz's, " Merz, Andreas Rinke, Christian Kraemer, Miranda Murray, Rachel More, Matthias Williams, Kirsti Knolle, Bernadette Baum Organizations: Climate, Christian Democratic Union, CDU, Bundestag, Christian Democrats, Ukraine, Finance, Thomson Locations: BERLIN, Ukraine, Germany, East Germany

☆ 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 cabinet to agree supplementary budget this afternoon - spokesperson
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

... Acquire Licensing Rights Read moreNov 27 (Reuters) - Germany's cabinet is expected to agree a supplementary 2023 budget this afternoon, a government spokesperson said on Monday. The cabinet will also try to present a 2024 budget by the end of the year, the spokesperson said, adding that if this did not work out, the plan was to agree a budget in January. The cabinet would base its reasoning for a renewed suspension of the country's debt brake on 2022 reasoning, the spokesperson added, speaking at a regular press conference in Berlin. Chancellor Olaf Scholz's government was forced to freeze most new spending commitments after the constitutional court blocked plans to repurpose unused pandemic funds towards green projects and industry subsidies, wiping billions from the federal budget. Reporting by Amir Orusov and Christian Kraemer, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Olaf Scholz, Chancellor Olaf Scholz's, Amir Orusov, Christian Kraemer, Rachel More Organizations: Thomson Locations: Berlin, 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

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