German Of The Day: Klassenbester

That means top of the class.

Nitrates

And that’s what Germany is when it comes to all things green and environmental and renewable and organic and… You get the picture, right? Well, that’s what I thought up until recently, too. Turns out they’re not very good at restricting the use of nitrates, though.

Germany ‘to be fined BILLIONS‘ for breaking EU environmental laws after ECJ ruling – The ECJ ruled that Germany breached a Brussels directive by failing to take enough action to tackle water pollution. The verdict by the EU’s highest court, based in Luxembourg, came after growing concerns about the levels of nitrates in German water. Nitrates are widely used as fertilisers, but the chemical can harm the environment and cause health risks through water pollution.

Der Europäische Gerichtshof in Luxemburg hat Deutschland wegen Verletzung von EU-Recht verurteilt, weil die Bundesregierung zu wenig gegen Nitrate im Grundwasser unternommen hat. Geklagt hatte die EU-Kommission.

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War Is Over! (f You Want It)

What? That was it? No more trade war hysteria? Just when it was starting to get interesting? What Luschen (duds).

EU

The Wall Street Journal reported that Richard Grenell, the U.S. ambassador to Germany, has been in talks recently with the chief executives of German car makers BMW, Volkswagen and Daimler, where they pitched the idea of ending car tariffs between the U.S. and the EU.

During these talks, the executives said they would be in favor of scrapping these levies as part of a broader deal encompassing industrial goods, the Journal said.

“Germany has the right approach to resolving this trade disagreement among friends.”

German Of The Day: Geschröpft

That means fleeced. Or clobbered, if you prefer.

Trump

As in… We protect Europe (which is good) at great financial loss, and then get unfairly clobbered on trade.

„Deutschland zahlt ein Prozent des Bruttoinlandsproduktes (langsam) in Richtung Nato, während wir vier Prozent von einer weit größeren Bruttoinlandsprodukt zahlen. Glaubt irgendjemand, dass das Sinn macht?“

I Don’t Speak Your Body Language

Or, better yet, German of the day: Über den Tisch ziehen.

G7

That means “pull over the table,” as in to get pulled over the barrel or bamboozled.

Body Language 2

Recall back in 2015, almost three years ago to the day, when Merkel, with outstretched arms, stood before President Obama, seated on a bench at that year’s Group of 7 summit.

Sein Verhältnis zur deutschen Bundeskanzlerin beschrieb Donald Trump mit dem Vokabular des Preisrichters bei einem Schönheitswettbewerb: Auf einer Punkteskala von 1 bis 10 gebe er der Beziehung zu “Angela und Emmanuel und Justin” die Bestnote, sagte der US-Präsident am Samstag vor seiner Abreise vom G7-Gipfel in La Malbaie mit Blick auf Merkel und ihre französischen und kanadischen Amtskollegen Macron und Trudeau.

Germany Preparing Itself To Lose The Next “Illegal” War

A Vicious Cycle – Berlin Worried about Losing Trump’s Trade War.

War

The U.S. has followed through with its threat to impose punitive tariffs on European steel and aluminum and the signs are pointing to a global trade war. The German government is doing what it can to prevent harm to its automobile industry.

… The German automotive industry would also be hard hit by a possible trade war with the U.S., where the most cars are sold in the world after China. German carmakers export around a half-million vehicles to the U.S. each year — particularly the kinds of expensive sedans that have been a thorn in Trump’s side for decades. If punitive tariffs are imposed, carmakers would likely have no choice but to react with higher prices and thus risk a decline in sales. VW subsidiary Porsche is especially at risk. Although the company sells almost a quarter of its vehicles in the country, it does not operate any factories of its own in the U.S.

“Germany stands to lose most.”

Times Change

Not. Not when it comes to government creating problems by having good intentions and then creating even greater problems by trying to solve the self-inflicted problems it just created. On and on this process goes. Politician generation to generation. Just like the families who now live around Berlin’s Sonnenallee in Neukölln (Little Beirut) will experience, being welfare recipients for many generations to come – instead of working  for a living like the Arab refugees who came before them, albeit “in an orderly manner.”

Neukölln

Of the nearly 695,000 migrants who applied for asylum in Germany in 2016, more than 62 percent received refugee status or humanitarian protection, which enabled them to work and receive welfare benefits, according to data from the Federal Office for Migration and Refugees (the same scandal-ridden authority we’ve been reading about these days). Among applicants from Syria, the figure was higher, at around 97 percent.

In contrast, 10 years earlier less than seven percent of asylum applicants in Germany received refugee status. A 2016 study by Bielefeld University found more than half of established migrants in Germany believe the newcomers should settle for less.

“When I saw what they received, I wished I was a refugee.”

Bargain Basement Time!

Looking for a stock steal? Try the Deutsche Bank. Those stealing bankers are a steal of a deal!

Deutsche Bank

The Federal Reserve has designated Deutsche Bank AG’s sprawling U.S. business as being in a “troubled condition,” a rare censure for a major financial institution that has contributed to constraints on its operations, according to people familiar with the matter.

The Fed’s downgrade, which took place about a year ago, is secret and hadn’t previously been made public. The “troubled condition” status—one of the lowest designations employed by the Fed—has influenced the bank’s moves to reduce risk-taking in areas including trading and lending to customers…

The shares closed down 7.2% in Frankfurt, at €9.16, their lowest close on the Xetra exchange, according to data going back to 1991.

Bei der Deutschen Bank reißen die Negativ-Meldungen nicht ab: Am Donnerstag war die Aktie mit 9,157 Euro und damit dem niedrigsten Schlussstand seit Anfang der Achtzigerjahre aus dem Handel gegangen.

Trump To Follow Germany’s Lead

After Germany introduced a ban on German vehicles in the city of Hamburg today, President Donald Trump has announced plans to do the same in US-Amerika, as well. Sort of.

Trump

A report that U.S. President Donald Trump has threatened to pursue German carmakers until there are no Mercedes-Benz rolling down New York’s Fifth Avenue dented shares in the luxury car manufacturers on Thursday.

An excerpt from German magazine Wirtschaftswoche’s article, which cited several unnamed European and U.S. diplomats but did not include any direct quotes, could not be independently verified, while a United States Embassy spokesman in Berlin referred questions to Washington.

The news and current affairs magazine said Trump had told French President Emmanuel Macron in April that he aimed to push German carmakers out of the United States altogether. Macron’s administration in Paris declined to comment on the report.

Eine harte Antwort wäre für die deutsche Wirtschaft riskant: US-Präsident Trump hat neben den Metall-Zöllen auch Zölle auf ausländische Autos ins Spiel gebracht.

Poland Gets It

The U.S. doesn’t stand to lose anything by accepting Poland’s generous proposal and gradually relocating troops there from Germany. A move of this kind would be consistent with stated U.S. goals, such as deterring Russia. It would also allow the U.S. to support an ally eager for closer military ties.

Poland

It might also force Germany to give more thought to its position. Would it feel unprotected with a smaller U.S. presence? Would it, perhaps, be motivated to enhance its own defense? Or would it still be secure in its apparent conviction that no one is interested in attacking it?

The U.S. should offer protection to the countries that want it most, and reduce its involvement with nations that benefited in the mid-20th century. The American military presence should be aligned with its allies’ sense of being threatened. This anxiety gets stronger the closer a country is to Russia’s borders. Ignoring that makes little military or political sense.

What’s Wrong With The SPD?

First they roll out a foreign minister who talks tough to Russia and then they provide a finance minister who has trouble spending other people’s money.

Scholz

Damn. Maybe I could become a social democrat (bourgeois socialist), too.

Germany’s new Social Democrat finance minister, Olaf Scholz, is frustrating both key ally France and his own struggling center-left party by adopting the same fiscal rigor as his conservative predecessor, Wolfgang Schaeuble.

During his first two months as treasury chief of Europe’s largest economy, Scholz has committed to a continued goal of no new debt and limited public spending.

“We act pragmatically and properly – and do not worship a fetish (of fiscal conservatism).”