Germany Finally Prepared To Help Iraq

Out of the goodness of its heart. With a giant electricity agreement worth billions.

Iraq

The Germans may not have been prepared to help free the country from Saddam Hussein militarily but they have finally taken a great step forward and are now prepared to free it from lots and lots of money makes the world go around.

Iraq and German giant Siemens have signed a framework electricity agreement potentially worth billions of dollars. The Iraqi premier was in Berlin to meet with Chancellor Angela Merkel.

“Our claim is that we are a reliable and affordable power supplier to the people of Iraq and want to help them rebuild their country.”

Are We Having A Recession Yet?

I don’t get it. I thought the German boom had boomed out. That’s all they’ve been talking about here for the past few months. More fake news, I guess.

April

Speaking of employmentGerman Joblessness Falls in Sign of Confidence in Growth Rebound – German unemployment continued its decline, suggesting companies are keeping faith in the prospects for Europe’s largest economy.

The number of jobless people fell 12,000 in April, more than economists expected, to 2.22 million. The labor agency said demand for workers continues to be very high.

This is the lowest unemployment rate for April in 30 years.

Arbeitslosigkeit – niedrigster Aprilwert seit 30 Jahren

Above Average?

Germany’s labor costs above EU average? Sure. But take a closer look. Forget about Eastern Europe.

Cost

Germany is one of the lowest when it comes to labor costs in Western Europe. And maybe there’s a connection here somewhere but it’s unemployment rate is also one the lowest.

“This convergence of relative labor costs results from the fact that in countries with low labor costs, growth rates have been well above those of countries with already high labor costs for many years.”

Marginal Art Marginalized In Berlin

Marginal art made by marginal artists, that is. Actually, the story’s about the marginal artists who are upset about being marginalized, for being marginal.

White

There is a difference here, of course, albeit a marginal one. I have an idea. Perhaps, just maybe I’m thinking, if they made their art better and not so marginally successful they could stop being so marginal and protest about something else a little less marginally interesting.

Earlier this week, stickers and posters started circulating in and around the city of Berlin that point to a disparaging fact: according to a group of arts activists, 75% of the artists being platformed at Berlin Gallery Weekend are white and male.

The stickers protesting the lack of diversity within the Berlin art scene feature a white sausage — known in German as Weisswurst — against the blue background of Berlin Gallery Weekend’s main logo and branding typography.

German Of The Day: Handelskrieg

That means trade war.

Handelskrieg

A trade war between the United States and Europe is coming and the fallout could tip Germany into recession, according to analysts at German lender Commerzbank…

Official German statistics supplemented by the bank’s own research show that in 2018, the United States was the top export destination for German cars, accounting for about 12% of the total with a value of 27 billion euros of parts or finished vehicles.

The bank estimated that a Trump-ordered tariff increase of 25 percentage points on EU auto imports would slash that figure for Germany down to around 14 billion euros per annum.

When factoring in how much of that export figure is actual German “added value,” the bank estimated that total economic output for the country could fall by around 0.25 percentage points.

“All the more dangerous in a situation where the German economy is only just managing to avoid a recession,” it read.

German Of The Day: Mangelhaft

That means deficient. As in the deficient quality of the oil being imported to Europe via a Russian pipeline – this import having now been suspended by Poland?

Oil

That means Germany can’t get the oil, either. It’s not like Germany’s dependency on Russian gas and oil is deficient, however. That’s as high a quality dependency as you can get.

Germany and Poland have suspended imports of Russian oil amid contamination concerns, prompting a rare crisis over supply from the world’s second-largest exporter.

The sudden suspension of imports from the Soviet-built Druzhba pipeline, which runs from Russia via Belarus to central Europe, risks starving major European refineries of their major source of crude.

Händler großer Ölkonzerne, die Raffinerien in Deutschland betreiben, bestätigten dies: Die Versorgung über die noch von der Sowjetunion gebauten “Druschba”, auf Deutsch “Freundschaft”, sei gestoppt.

Germans Are Just Crazy About The EU

Or at least that’s the impression you get consuming the media reports here.

Manfred

Manfred

In reality, however, nobody really knows what it is or how it works, much less who to vote for. Not even when a German is running for European Commission president in the upcoming election.

Only around one in four Germans (26 percent) knows who Manfred Weber is, just a month ahead of a European election he hopes will help propel him to being the next European Commission president.

But Weber, the lead candidate for the European People’s Party (EPP), is not alone in having a relatively low profile on the domestic political scene. According to a YouGov poll commissioned by dpa, 45 percent of Germans do not know any of the nine leading party candidates for the European Parliament election.

German Of The Day: Verfolgung

That means persecution.

Christians

German politicians denounce growing violence against Christians. Wow. That took a lot of bravery. And it will be long forgotten tomorrow.

German politicians across the political spectrum said the persecution of Christians worldwide is growing. Their statements came after a spate of bomb attacks on churches and hotels in Sri Lanka on Easter Sunday.

Not that anybody cares but Christianity remains the most persecuted religion in the world. In recent years, scores of Christians observing Easter and Christmas services have been killed by Islamist terrorists in churches in Egypt, Pakistan, Nigeria and now Sri Lanka.

Our Next Promise Will Show More Promise

Not.

Defense

The longer Germany’s grand coalition stays in power, the more doubtful it is that Berlin will raise defence expenditure to the levels that it has promised its US and European allies. A failure to meet Germany’s commitments will corrode the mutual trust that is the essential ingredient of a successful international military alliance.

Inadequate German defence spending weakens Nato, the foundation stone of the nation’s security for 70 years. It damages US-German relations, which are at a post-1945 low because of the Trump administration’s disruption of the liberal world order. Ultimately, it undermines the credibility of the government’s claim that Germany stands for a robust, autonomous European security and defence strategy less reliant on Washington.

The Christian Democrat-Social Democrat coalition that assumed office in 2017 informed Nato at the start of this year that it would spend 1.5 per cent of gross domestic product on defence in 2024. This figure was below the 2 per cent to which Angela Merkel, Germany’s chancellor, and other national leaders had committed themselves at a Nato summit in 2014.