Germany To Repay Customers Of Insolvent Thomas Cook

How nice of Germany to do that. But where does Germany get the money to repay them?

Germany

It’s no Kunststück (slight of hand), folks. I could repay customers of insolvent companies all day long too as long as I had somebody else’s money to repay them with. Just milk the taxpayer again, in other words.

Germany will give financial assistance to customers hit by the insolvency of Thomas Cook because the tour operator’s insurance cover has proved insufficient, it said on Wednesday…

Insurer Zurich’s (ZURN.S) liability is capped at 110 million euros ($121 million) but it has already registered claims worth 250 million and experts estimate total claims will reach 300 million to 500 million euros, ARD said.

A legal opinion commissioned by Zurich concluded that state liability is possible because the German government inadequately implemented a 2015 EU directive meant to ensure customers get their money back in the case of the insolvency of a tour operator, the report said.

“Damages that are not compensated by other parties will be settled by the federal government.”

How Will Germany Pay?

Like, duh. The same way Germany pays for its Syrian migrants (three out of four live off the German welfare system). The captive taxpayer audience will pay. Always has, always will. Gladly, even.

Climate

How Will Germany Pay For Its €50bn Climate Plan? After months of intense negotiations between the governing parties in Berlin, Germany on Friday announced a €50 billion package of measures designed to help the country meet its 2030 emissions reduction goals.

Just so you know: Citizens in ridiculously expensive Switzerland already pay half of what the Germans pay for their energy now. And in France, the people take to the streets to protest rising energy costs (gilets jaunes). In Germany, the people take to the streets to protest the latest planned energy price increases not being high enough. German voters want this, in other words. It’s psycho here, folks. I keep telling myself “it’s only a movie, it’s only a movie…” but, sadly, I know it’s real life. As real life as German reality can get.

Strompreise steigen auf Rekordhöhe – auch Gas ist teurer.

German Of The Day: Abzocke

That means rip-off.

Abzocke

You know, like the way the German government uses any opportunity it can to rip-off taxpayers (nobody pays more taxes than Germans do)? The latest Abzocke planned is to double the air travel tax in order to fight climate change. And it will definitely not be the last Abzocke to use fighting climate change as an excuse. It’s a brilliant Masche (scam). I mean, when hasn’t the climate changed? They can keep on introducing rip-off tax tricks forever.

Germany’s ruling conservatives have proposed doubling taxes on domestic flights, as part of a wider package to cut CO2 emissions.

The decision was taken by the leadership of the Christian Democrats (CDU), who form a coalition with the Christian Social Union (CSU) and the Social Democrats (SPD).

“We will invest, together with the aviation industry, to make electric-powered flight standard for short-haul flights and to create synthetic fuel to achieve climate-neutrality on medium- and long-haul flights,”

Your Tax Euros In Action

You know the drill. These studies are routinely published (in this case by the German Federation of Taxpayers) demonstrating how tax money is burned by the government.

U-Boot

There were some real beauties in this report, too. But my personal favorite is the Case of the Squandered Submarines. The German navy has these six way cool new fuel cell driven submarines that set the German taxpayer back three billion euros. The only problem here is that none of them are currently operational and have spent most of their time dry-docked. Additionally, there are only three submarine commanders available to command these vessels. One of these subs has only been deployed once – in thirteen years. Wow. With a navy like this who needs an enemy?

And I’m sure the next tax increase is already in the works.

Die sechs U-Boote der deutschen Marine mit Brennstoffzellenantrieb gehören zum Modernsten, was die Nato in diesem Bereich zu bieten hat. Drei Milliarden Euro kosteten sie. Das Problem: Laut Schwarzbuch ist keines dieser U-Boote derzeit tatsächlich einsatzbereit.

This Just In: Governments Waste Money

In Germany, too? You bet.

Waste

The latest “black book” has been published by the German Taxpayers Federation and here – not counting your regular, every-day kind of wasteful government spending – are just a few of the more special ways in which government tosses money out the window:

Garbage cans in the city of Leverkusen that cost  1,258 euros a shot.

A fish ladder near the town of Lauterbach that cost taxpayers 100,000 euros. The only problem is that the fish can’t reach the ladder.

Or how about a townhouse in an exclusive location in Manhattan, owned by the Federal Republic of Germany. The only problem here is that it’s been empty since 2009 and costs taxpayers over 80,000 euros a year in upkeep.

“Politik und Verwaltung gehen verschwenderisch, sorglos oder leichtsinnig mit Steuergeldern um.”