How a legendary chancellor became “Gerdgas”.

The SPD, on the other hand, is likely to find it more difficult to expel the prominent comrade in their party expulsion proceedings due next Monday. His blunder is to let Vladimir Putin set him up for Russian PR.

The Kremlin wants a “negotiated solution” in the Ukraine war, Schröder announced after a meeting with Putin, as instructed. The “simplest solution” is to put the new Nord Stream 2 pipeline into operation, otherwise “you have to bear the consequences – and they will also be huge in Germany”. At this point you look again at the interview photos, and yes, it is actually Schröder (nickname: “Gerdgas”) who is speaking, and not Vladimir Putin.

Federal Finance Minister Christian Lindner wants to implement the debt brake next year.

(Photo: Andreas Pein/laif)

The German announcement about the EU Commission’s plan to reform the stability pact with the EU debt rules in the next few weeks comes from Federal Finance Minister Christian Lindner and is published in the Handelsblatt.

In an interview, the FDP leader describes the regulations found after a long dispute as follows: The country will remain with the debt limits of three percent of the budget (for new debt) and 60 percent (total debt) – but highly indebted EU countries should have a limit of 0.5 percent of the annual budget deficit. In the Handelsblatt interview, the liberal says about…

  • the norm for higher education countries to reduce one-twentieth of debt-to-GDP ratios over 60 percent annually: “Here I recommend realism. Unrealistic rules result in nothing happening. My offer is to make the reduction path to the medium-term budgetary target binding, but to waive the one-twentieth rule.”
  • his position in the federal government: “The role of often being portrayed as a naysayer is not a comfortable one. But someone has to do it at traffic lights, because the SPD and the Greens have completely different ideas. It was always clear that it would be the job of the FDP to keep this country centered and achieve progress rather than a left swing. I feel supported by the Federal Chancellor.”
  • its relation to the economy: “Yes, I am concerned about the future of the economy and its jobs. I consider it part of my oath of office that I maintain close contacts with business, employers and trade unions. I make my own judgment independently.”

“Is the no in the yes or the yes in the no to blame?” the writer Georg Büchner asked himself at the beginning of the 19th century.

The South-East conflict was part of the usual repertoire of German political analysis. He said that the economy was booming in the south of the republic, but was stagnating in the accession countries. The Center for European Economic Research (ZEW) Mannheim is now radically dispelling the myth by comparing the locations of the federal states. As Markus Söder would have expected, Bavaria is in first place in the study – but then Saxony, the other free state, has already moved to second place, ahead of Baden-Württemberg, which has always been dubbed the “model state”.

When it comes to work and human capital, the Saxons are even among Germany’s best, which is also due to the popular universities in Leipzig, Dresden, Chemnitz and Freiberg. Rhineland-Palatinate has to live with the red lantern as a decoration for the last one, which is due to poor infrastructure and poor institutions (official failure in the flood disaster) – even if Biontech in Mainz and the excellent AI research in Kaiserslautern are positive counterexamples.

Elon Musk, who tends to be whimsical, and Twitter are waging a lively legal war – before the court in the US state of Delaware will determine in October whether the Tesla boss actually has to buy the media company for 44 billion dollars, as once announced.

Twitter is pushing for it. Musk demands minutes from the Twitter helpers Goldman Sachs and JPMorgan in order to learn everything about the purchase negotiations from the perspective of the other, including any talks with other interested parties.

Twitter, in turn, is demanding documents from Musk’s camp, such as from his financial escort Morgan Stanley, from other investors and from Tesla and SpaceX from Musk’s company collection. We remember a saying from Musk’s great construction kit for rhetorical coping with everyday life: “It’s okay to put everything on one card, as long as you have control over what happens with that card.”

The kingdom and its allies in Opec plus refuse to significantly increase oil production.

(Photo: Thomas J. Abercrombie)

US President Joe Biden literally fought for the last drop of oil and even flattered the Saudi Arabian Crown Prince Mohammed bin Salman (“MBS”), who is believed to have commissioned the murder of journalist Jamal Khashoggi.

But Opec+, the cartel of oil-exporting countries and their helpers, is leaving the Americans out in the cold. It is only slightly raising its short-term oil production for September.

The daily production target for September has been expanded by 100,000 barrels (159 liters) – equivalent to 0.1 percent of global demand. It’s one of the smallest increases in Alliance history, causing frustration among many Western nations. They have nothing of symbolic gestures.

There are three striking developments in the corporate world. The Göppingen-based software provider Teamviewer has actually discovered that 48 million euros in sponsorship payments for the Manchester United football club are wasted money. The contract will not be extended after 2026.

In Italy, shoe and luxury manufacturer Tod’s (market value: 1.3 billion euros) is to be taken off the stock exchange after 22 years: the owner family Della Valle wants to invest heavily in brands, which is not compatible with a stock exchange listing. And finally, the real estate group Adler Group, which is struggling to survive, has to dismiss the planned sale of 63 percent in the subsidiary Brack Capital Properties – industry colleague LEG no longer likes it.

And then there is the entrepreneur’s son, collector and gallery owner Heiner Friedrich, 84, who lives in the USA and has now returned to Munich to receive the Federal Cross of Merit. In the Upper Bavarian industrial town of Traunreut, he had built the huge, phenomenal art area “DASMAXIMUM” on his father’s company premises, where drills and three-seater convertibles (“Spatz”) used to be made.

Artists such as Georg Baselitz, John Chamberlain, Walter De Maria, Dan Flavin, Imi Knoebel, Uwe Lausen, Blinky Palermo, Andy Warhol and Maria Zerres can be seen here in separate houses. Attention – the inflated currency of our time – is a horror for the founder Friedrich, as the “Frankfurter Allgemeine” writes. The man doesn’t want any temporary exhibitions, no events, just silence. Here, an art collection also serves as a stylish escape from everyday life.

I wish you an inspiring day.

It greets you cordially
Her
Hans Jürgen Jakobs
Senior editor

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