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Keyword: socialmarketeconomy

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  • Wolfgang Schäuble warns against protectionism in US [Germany’s finance minister]

    10/15/2017 7:53:30 PM PDT · by Olog-hai · 22 replies
    Deutsche Welle ^ | 10.15.2017 | ap/cmk (Reuters, AFP)
    Wolfgang Schäuble, who is due to become the next president of Germany’s lower house of parliament, on Saturday made his last appearance at the annual conference of the International Monetary Fund as Germany’s finance minister. During his speech, Schäuble reiterated his warnings against protectionist economic policies and appealed for closer trade cooperation among countries. “We should all be worried about the weak growth of global trade and the increasing anti-free trade rhetoric,” he said. “We need more openness rather than less.” […] Schäuble, the chairman of the G20 finance group this year, said he believed the backlash against globalization was...
  • US rejects French proposal on taxing tech companies

    10/15/2017 9:19:22 AM PDT · by Olog-hai · 9 replies
    TheLocal.fr ^ | 15 October 2017 11:55 CEST+02:00 | AFP
    The United States does not support a French proposal to tax the gross revenues of international tech corporations like Google and Amazon, Treasury Secretary Steven Mnuchin said on Saturday. The remarks come as European officials say Washington has softened in recent days on a point that has caused sharp transatlantic tensions in recent years. European authorities have targeted multinational companies that avoid taxation by seeking out cozy arrangements in low- and no-tax jurisdictions. […] In September of this year, French authorities proposed that the European Union impose taxes on gross corporate revenues because they say they have been unable to...
  • Germany's Sigmar Gabriel slams Donald Trump's 'national selfishness' in UN speech

    09/21/2017 11:13:03 PM PDT · by Olog-hai · 40 replies
    Deutsche Welle ^ | 09.21.2017 | rs/sms (AFP, dpa)
    German Foreign Minister Sigmar Gabriel warned against “national selfishness” in world politics on Thursday in his first speech at the United Nations General Assembly. “This worldview describes the world as an arena, a kind of battleground, in which everyone is fighting against everyone else and in which everyone has to assert their own interests, either alone or in alliances of convenience,” Gabriel told world leaders. “The motto ‘Our country first’ only leads to more national confrontations and less prosperity. In the end, there will only be losers,” he said, in a thinly veiled reference to US President Donald Trump’s oft-repeated...
  • France slams Silicon Valley for skirting tax in Europe

    09/16/2017 10:08:48 AM PDT · by Olog-hai · 24 replies
    TheLocal.fr ^ | 16 September 2017 03:41 CEST+02:00 | AFP
    French Finance Minister Bruno Le Maire accused US internet giants on Friday of escaping their fair share of taxes in Europe, as he pushed the EU to urgently address the issue. Big EU countries have become increasingly frustrated that internet giants such as Amazon, Apple, Facebook and Google escape paying a fair tax by basing their operations in lower-tax EU states such as Ireland and Luxembourg. “We need to make sure in Europe that all companies are paying their fair share of tax, that is the meaning of our initiative,” Le Maire told reporters on the sidelines of talks with...
  • Cleaning lady takes anger out on Merkel over meager pension

    09/15/2017 2:20:31 PM PDT · by Olog-hai · 25 replies
    TheLocal.de ^ | 15 September 2017 16:09 CEST+02:00 | DPA/The Local
    During a meet-the-voter TV show on Thursday night, a cleaning lady asked Chancellor Angela Merkel a question that raised the issue of old-age poverty — leaving her struggling to come up with an answer. “In Austria, there is a citizens’ insurance scheme. Everyone pays into it,” Petra Vogel told the Chancellor on a live show on public broadcaster ZDF on Thursday. Vogel, a cleaner in a hospital in Bochum and trade unionist, went on to explain that if Germany had this too, she would not have to live in poverty as a pensioner. After more than 40 years of work,...
  • Energy-gobbling vacuum cleaners outlawed by EU

    09/01/2017 11:51:16 PM PDT · by Olog-hai · 76 replies
    EUbusiness ^ | 01 September 2017, 18:40 CET
    Vacuum cleaners sold in Europe are to be more cost- and energy-efficient, as a result of EU rules which outlaw new vacuum cleaners using more than 900 watts and emitting more than 80 decibels. Updated ecodesign requirements will lower appliances’ maximum power, annual energy consumption and noise levels. The European Commission says it is is making use of latest state-of-the-art technologies to ensure that European consumers have the most energy efficient products available. They will also increase their minimum ability to pick up dust. […] For Europe as a whole, more efficient vacuum cleaners will put it in a position...
  • This is what Germans really think about capitalism

    08/15/2017 1:15:14 PM PDT · by Olog-hai · 28 replies
    TheLocal.de ^ | 15 August 2017 15:26 CEST+02:00 | Jörg Luyken
    Despite the turbulence of the Weimar years, Germany has followed a steady capitalist economic model since the end of the Second World War. But that doesn’t mean people like the idea, a new study shows. Contrary to the US, where belief in capitalism is as entrenched as hot dogs and baseball, Germany has always had a more complicated relationship to the philosophy of competitive markets. This is, after all, the country that gave us the founding communist thinkers Karl Marx and Friedrich Engels. And a study published by Statista and YouGov on Tuesday shows that only 16 percent of Germans...
  • Germany calls for countermeasures against ‘illegal’ US sanctions on Russia

    07/31/2017 6:38:16 AM PDT · by Olog-hai · 29 replies
    TheLocal.de ^ | 31 July 2017 12:03 CEST+02:0 | DPA/The Local
    The German Economy Minister Brigitte Zypries on Monday slammed the latest round of US sanctions against Russia as being “against international law.” The planned new US sanctions are set to hit German and European companies which have business interests in Russia. “We see that as being against international law, plain and simple,” Zypries, of the Social Democrats (SPD), told the Funke Mediengruppe. “The Americans can’t punish German companies because they have business interests in another country.” The Economy Minister said that she did not want this to be the start of a trade war with the US, but emphasized that...
  • Tony Blair says Brexit must be stopped to halt harm to UK

    07/15/2017 4:47:30 PM PDT · by Olog-hai · 23 replies
    Associated Press ^ | Jul 15, 2017 8:08 AM EDT
    There’s a chance Britain won’t leave the European Union, former Prime Minister Tony Blair said Saturday, arguing that stopping Brexit is “necessary” to avoid severe economic damage. In an article published by Blair’s Institute for Global Change, he wrote that EU leaders might be willing to “reform and meet us half way” to keep the U.K. in the bloc. He said that might include compromise on freedom of movement — a key EU principle that conflicts with Britain’s goal of placing limits on immigration. […] Blair also told Sky News that “every day is bringing us fresh evidence” of Brexit’s...
  • German gvnt to toughen rules to protect German 'know-how' from foreign takeovers

    07/12/2017 7:55:17 AM PDT · by Olog-hai · 9 replies
    TheLocal.de ^ | 12 July 2017 10:50 CEST+02:00 | AFP/The Local
    Angela Merkel’s cabinet agreed on Wednesday to tighten scrutiny on takeovers of companies in strategic industries by buyers outside the EU, the Economy Ministry said, reacting to Europe-wide disquiet over Chinese takeovers. New regulations will allow Berlin more time to probe takeover bids, especially in sectors affecting critical infrastructure, and extend the range of deals eligible for examination by the authorities. “We remain one of the most open economies in the world, but we also have an eye on fair competition. We owe that to our companies,” Economy Minister Brigitte Zypries said in a statement. “In the future, reporting requirements...
  • 'France faces last chance to reform labor market, but must not become like UK and US' [MEDEF head]

    06/23/2017 6:49:56 PM PDT · by Olog-hai · 4 replies
    TheLocal.fr ^ | 23 June 2017 17:09 CEST+02:00 | Ben McPartland
    The head of France’s biggest employers federation said on Friday that President Emmanuel Macron represented the last chance to reform the country’s rigid labor market, but did not want the country to end up like the US or the UK. […] While his plans have leftist trade unions seething and warning of mass street protests, the leaders of France’s big companies are unsurprisingly right behind him. “We need to get going quickly,” said Pierre Gattaz, president of France’s employers federation MEDEF, an organization that is reviled by many among France’s hard left. “France won’t have another opportunity. Now we have...
  • New German state firm to give startups €2 billion funding boost: report

    06/12/2017 6:20:53 AM PDT · by Olog-hai · 2 replies
    TheLocal.de ^ | 12 June 2017 12:38 CEST+02:00
    The German government will set up a new state-owned company which will provide startups with the money they need to transform a great idea into a successful business, Spiegel reports. As of 2018, startups will be able to apply to a new state-owned fund for the venture capital needed to accelerate the growth of their businesses, according to a government report seen by Spiegel. The company will be a subsidiary of the Kreditanstalt für Wiederaufbau (KfW), the state-owned development bank, and is set to fill part of an estimated annual hole of €500 million to €600 million in venture capital...
  • Barcelona's poorest residents to trial minimum income scheme in social experiment

    06/01/2017 7:47:38 PM PDT · by Olog-hai · 36 replies
    TheLocal.es ^ | 1 June 2017 14:02 CEST+02:00 | Fiona Govan
    Barcelona’s poorest district is to pilot a “basic income” scheme that will see residents given grants to lift them above the breadline in a ground-breaking social experiment. The Barcelona district of Besós has been picked to test a €13 million European Union funded pilot scheme investigating “innovative and creative solutions” to urban poverty. The Catalan capital has been chosen alongside Utrecht in the Netherlands and the Finnish city of Helsinki to test the scheme, which will see the poorest residents in each chosen district given grants for two years to lift them above the breadline. In the B-Mincome experiment, 1,000...
  • Soros Says The European Union Is Now In An Existential Crisis, Surrounded By Hostile (US) Powers

    06/01/2017 9:02:07 AM PDT · by blam · 33 replies
    CNBC ^ | Silvia Amaro
    Billionaire financier George Soros said Thursday the European Union is in an "existential crisis" and needs to be reinvented in the face of growing threats. "The reinvention would have to revive the support that the European Union used to enjoy," the Hungarian-born Soros said at the Brussels Economic Forum. Such reinvention would have to review the past and explain to European citizens what went wrong and then make proposals to make things right. Soros welcomed a German idea to cut European funds aimed at reducing income inequalities at the regional level for those countries disrespecting the rule of law. Both...
  • China and Europe: Together we can make a difference [Chinese ambassador to EU]

    05/12/2017 10:27:47 AM PDT · by Olog-hai
    EurActiv ^ | 05/12/2017 10:09 | Yang Yanyi
    H.E. Ambassador Yang Yanyi is head of the Chinese Mission to the EU.(The Belt and Road Forum) has attracted broad participation of some 1,500 officials, scholars, entrepreneurs and people from financial institutions and media from more than 130 countries, principals and representatives from over 70 international organizations. […] At a time when the foundation for global economic recovery is not solid, trade investment remains weak, and growth impetus unstable, this Forum, with “Strengthening International Cooperation and Co-building the ‘Belt and Road’ for Win-win Development” as its central theme, will offer an excellent opportunity to take stock of what has been...
  • 'The greed of the German state has become almost kleptocratic' [FDP party leader]

    05/11/2017 8:01:04 PM PDT · by Olog-hai · 5 replies
    TheLocal.de ^ | 11 May 2017 15:33 CEST+02:00 | DPA/The Local
    With Germany raking in more taxes due to strong economic performance, the leader of its liberal party has suggested state officials are enriching themselves at the cost of the taxpayer. “The greed of the state has taken on kleptocratic characteristics,” Christian Lindner, head of the Free Democratic Party (FDP) told Handelsblatt on Wednesday. A kleptocracy is a form of government in which officials corruptly use public funds for personal gain. “The yearly tax intake of the state is set to be €100 billion higher in 2020 than this year, if we don’t act. For the FDP, it is clear that...
  • Merkel warns against British 'illusions' as Brexit negotiations begin

    04/27/2017 6:13:06 PM PDT · by Olog-hai · 20 replies
    Deutsche Welle ^ | 04.27.2017 | Jefferson Chase
    Ahead of a meeting of the 27 remaining European Union nations in Brussels on Saturday, Chancellor Angela Merkel briefed the German parliament, the Bundestag, about Germany’s strategy vis-à-vis Brexit. But at least in part, her message was aimed across the English Channel. The chancellor warned London not to expect a deal that would privilege the UK. “A third-party state cannot enjoy the same advantages or be better positioned than an EU member state,” Merkel said. “I have the feeling that some people in Britain maintain illusions in this regard. They’re wasting their time.” That line drew applause from members of...
  • Britain's back in favor for corporate deals despite Brexit

    04/23/2017 7:18:03 PM PDT · by Olog-hai · 17 replies
    Associated Press ^ | Apr 23, 2017 7:02 PM EDT | Pan Pylas
    Britain has reclaimed its place as one of the top five countries that firms look to make deals in, just six months after dropping off the list in the wake of the country’s surprise to leave the European Union, according to a survey released Monday. In its half-yearly report of business executives, consulting firm EY said Britain has rebounded to be the third most attractive destination for mergers and acquisitions, behind the U.S. and China. Last October, in the wake of the Brexit vote, it had slumped to seventh and out of the top five for the first time in...
  • Germany has second biggest tax burden worldwide, report shows

    04/11/2017 5:02:46 PM PDT · by Olog-hai · 8 replies
    TheLocal.de ^ | 11 April 2017 16:27 CEST+02:00
    A new report by the OECD reveals that Germany is second only to Belgium when it comes to high tax rates in developed countries worldwide. The Organization for Economic Cooperation and Development (OECD) reported on Tuesday that Germany has the second highest tax rate after Belgium, when comparing 35 developed countries around the world. The OECD calculated each country’s tax wedge — the gap between what employers take home in pay and what it costs to employ them, including personal income tax and social security contributions. Germany had a tax wedge for single, childless workers of 49.4 percent, behind Belgium...
  • UK will remain partner despite triggering Brexit, says Germany

    03/29/2017 6:38:22 AM PDT · by Olog-hai · 3 replies
    TheLocal.de ^ | 29 March 2017 14:16 CEST+02:00 | AFP
    Britain remains a key ally for the European Union and NATO, a spokeswoman for German Chancellor Angela Merkel said Wednesday, as London formally launched the process to quit the bloc. “We must not forget that the UK is still a partner, in NATO and in Europe,” Ulrike Demmer told journalists, adding that London’s Brexit notification would give “us more clarity” on how Britain planned to handle the divorce process. “On this basis, the 27 member states and EU institutions will define their interests and aims,” Demmer said, adding that Berlin was “well prepared” for the coming negotiations. German foreign ministry...