Connect with us


Germany calls the spotlight in Europe and Merkel is not sorry



(Bloomberg) – When Berlin broke with its frugal tradition and turned on the spending tap this year, a senior German Economics Ministry official was stunned that the European Commission had rebelled instead of showing gratitude.

For years, Germany has been berated by the commission, the powerful executive arm of the European Union, as well as the United States and the IMF, for what has been called a balancing fetish. Now that she had released 1.2 trillion euros ($ 1.4 trillion), EU competition chief Margrethe Vestager has complained that she is giving German companies an unfair advantage.

Germany has therefore decided to assert itself. Rather than displeasing in public, officials mounted a vigorous behind-the-scenes lobbying operation to defend the spending plans, according to a senior official familiar with the talks, who spoke on condition of anonymity. It worked.

Everyone has asked Germany to spend more and now Germany is spending, Vestager said at an event in Berlin on September 7. So I think we should make the most of it.

This is a telling example of how Germany has become much more explicit and without excuse about doing things in Europe. This is manifested in its tightening of rules on foreign investment, its efforts to coordinate the response to an increasingly powerful China, and its willingness to challenge Russia over the poisoning of opposition leader Alexei Navalny.

The world has changed, says Andreas Laemmel, head of economic affairs for Chancellor Angela Merkels’ ruling bloc in parliament. If we continue as in the past, then Europe will become a simple industrial museum.

Part of it is a generational change. The leaders who grew up in the shadow of World War II were content to limit Germany’s place on the world stage to the economic sphere, but they are giving way to those who read about the Nazis in the books of story: Merkel is the first chancellor born after the war. Enough time has passed that the German force is no longer a frightening proposition.

And in part, it’s a recognition that Germany has no choice but to get to work with Europe caught in the midst of a growing conflict between the two world superpowers.

Under Donald Trump, the United States has become an unpredictable and even hostile ally, while Xi Jinping praises multilateralism as China grows ever bolder in its forays into international relations.

Merkel intended to make a summit with China the centerpiece of the German EU presidency which will run until the end of this year, but the coronavirus has shattered that plan. Instead, Merkel and Xi will set up a video conference on Monday with senior EU officials.

In a September 10 interview, Finance Minister Olaf Scholz acknowledged that the current landscape means that Germany must take on more responsibility, which means maneuvering the Brussels machine, especially with Brexit still on the table.

German officials fear that Vestager and his colleagues are locked into a rule-driven mindset made for another era, according to lawmakers from the Merkels Christian Democrats and the Liberal opposition group.

This thinking puts too much emphasis on the risk of internal tensions between EU states and underestimates external threats, lawmakers said. To cope with these perils, the EU must better combine the economic power of its governments and companies, the Germans concluded.

This means allowing more state intervention and investment, relaxing the competition rules that hinder giant mergers, and strengthening financial ties between member states.

If the Germans are successful, it could spark a wave of corporate alliances in sectors ranging from telecoms to banking to defense. They are already directing billions of euros into new industries like batteries and cloud computing.

For the outside world, it must be surprising how much inward-looking Europe is, said Matthias Heider, Christian Democratic Vice-Chairman of the Bundestag’s Economic Committee. Europe must focus more of its attention outside our borders and find answers to the growing challenge posed by China’s growing economic power.

Merkels’ growing desire to persuade his European partners to accept a more muscular German industry marks a break with Berlin’s historic relationship with Europe.

The post-war Chancellor Konrad Adenauer gave his say in industrial policy by laying the foundations for what would become the EU. A generation later, Helmut Kohl’s memories of his wartime childhood convinced him to abandon the precious Deutsche Mark to forge a single European currency.

When Germany exerted its influence during this time, it focused on making rules to constrain national governments. Kohls officials criticized the EU competition regime Vestager now oversees in the late 1980s and fought to ensure it left no room for French interventionism.

The seeds for this change were sown in August 2016, when German officials felt compelled by EU rules to let the Chinas Midea Group buy robot maker Kuka. At the time, a senior German official involved in finding ways to try to block the deal said he believed the Chinese were taking advantage of the liberal European regime to procure critical technologies.

The idea took root last year when Vestager blocked plans by Germanys Siemens AG and Alstom SA in France to create a giant European train manufacturer. The German Minister of the Economy Peter Altmaier and his French counterpart Bruno Le Maire then committed to changing the rules of competition.

Today, the alliance between Germany and France is causing major changes in the way the European economy is run.

Altmaier even tried to push for a tie-up between Finns Nokia Oyj and Ericsson AB of Sweden last year to counter Chinas Huawei Technology Co., an official familiar with the discussion said, though the plan met with little enthusiasm from the share of company spokespersons for both. comment.

The next part of their strategy is to target the competition rules, the touchstone of the single market. The Germans aim to make progress in breaking down barriers to future European champions by the start of next year.“data-reactid =” 60 “> For more articles like this, please visit us at

Subscribe now to stay ahead with the most trusted source of business news. “data-reactid =” 61 “>Subscribe now to stay ahead of the curve with the most trusted source of business information

2020 Bloomberg LP

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]

Please disable the ad-blocker on this page to see the content