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Germany

German Economy Shrinks by Record 10.1% in Second Quarter

BERLIN – The German economy shrank by a record 10.1 percent in the second quarter as coronavirus lockdowns took their toll, official data showed Thursday, but experts say a recovery is already underway. Federal statistics agency Destatis called the quarter-on-quarter decline in gross domestic product “historic” and far bigger than any slump seen during the […]

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MAJOR: Deep State House Panel Votes to Prevent Trump’s Germany Withdrawal

WASHINGTON, D.C. – The House Armed Services Committee approved a bipartisan amendment seeking to constrain President Donald Trump’s ability to withdraw US troops from Germany. The National Defense Authorization Act (NDAA) amendment, offered by Reps. Ruben Gallego (D-Ariz.) and Don Bacon (R-Neb.), would block funding to reduce the number of troops in Germany and Europe […]

MERKEL: ‘We Reject Exterritorial Sanctions on Nord Stream 2’

BERLIN/WASHINGTON, D.C. – German Chancellor Angela Merkel said on Wednesday that proposed US sanctions against the Nord Stream 2 natural gas pipeline from the Russain Federation were law-defying and would be dealt with. “We think that extraterritorial sanctions, like the ones imposed by the US, do not match our understanding of what is legal. This […]

MERKEL: ‘US No Longer A World Leader’

BERLIN – The rest of the world can no longer take it for granted that the US still aspires to be a global leader and needs to readjust its priorities accordingly, German chancellor Angela Merkel warned. “We grew up in the certain knowledge that the United States wanted to be a world power,” the German […]

Will the Coronavirus Widen the Rift Between US and Europe?

By Arthur Evans – During the “100 days with COVID-19: lessons to be learned” international online summit held from June 15 to 19, leading experts and politicians from more than 20 countries discussed the unforeseen changes that have in recent months happened in global politics and economics. Just as the coronavirus pandemic has dominated international […]

GERMANY AND COVID-19, CRUMBS FOR WORKERS, SLICES FOR CAPITALISTS

By Arturo Gallegos – The economic rescue package approved by the German federal government is made up of around 675 billion euros, of which 600 billion will be used to support large corporations and capitalist companies, 50 billion for small companies, producers and professionals; and finally only 7.5 billion euros will be invested in the […]

MERKEL UNDONE? German Economy Set to Shrink Almost 10% Due to Lockdown

BERLIN – European Union’s biggest economy, Germany, is set to decline by at least 9.3 percent in 2020, according to the most likely scenario outlined by one of the country’s largest economic think tanks, the Ifo Institute. The Munich-based institute presented three possible scenarios in its latest economic forecast update on Thursday. Such a report […]