Problems Made in Germany: No more money for the future? | To the Point
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- Опубліковано 12 чер 2024
- Germany is facing a budget crisis following an emergency spending freeze. Europe’s biggest and the world’s third-largest economy is in trouble. It seems to have run out of money that it needs for modernizing its infrastructure and for achieving its climate targets.
Germany likes to be seen as a global climate leader. It has plans to become carbon neutral in the next couple of decades. A plan that now looks farfetched.
While other countries - like the US and China are investing heavily in their infrastructure - for a better future - Germany, on the other hand, is having to save money and cut costs. So, today on To The point, we are discussing: Problems Made in Germany: No more money for the future?
Our guests: Matthew Karnitschnig (Politico); Arne Delfs (Bloomberg); Leonie von Hammerstein (DW)
Chapters
00:00 Germany is left with no more money to deal with climate change
02:40 Tensions within the German coalition
06:30 Is Germany moving towards deindustrialization?
07:00 Why are energy prices skyrocketing in Germany?
08:20 Will Germany witness new elections soon?
10:50 The German courts seem to have become enemies of the government
11:50 Does Olaf Scholz really have a plan for the country?
12:20 People in Germany don't trust their government anymore
14:30 Scholz and his team knew the risks of the budget and still had no plan B
17:00 Germany is still a rich country and has enough money
18:35 What kind of migrants are coming to Germany?
20:20 Does Germany have any credibility at COP28?
22:15 USA and China are massively financing their economies
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#tothepoint #Germany #germaneconomy
German government is focusing to save US economy right now.. So don’t disturb them
😂
real
Shutting down their nuclear power plants was a major brainfart, dirtier air and more expensive electricity than in France.
Sure let's rely on uranium imports from kremlin-friendly countries. You never learn from mistakes, do you? Otherwise you wouldn't the nuclear solution
@@bananerz3167 Mnnn Germany is an ally of Canada no??
@@EyFmS no as much as canada is a ally of the US
@@FelixAnt Well the comment I replied to was talking about getting Uranium from Russian friendly countries....and completely ignoring the fact Canada which is an ally of Germany has plenty of Uranium.
@EyFmS ironically Canada is having similar issues as Germany when it comes to enless bureaucracy.
I said it years ago: Germany will fall victim to its own arrogance and fixed mindset culture...RIP
It’s not just arrogance. Germany also doesn’t have a leadership that actually wants the best for their country’s interests. Germany needs to stop working for America’s interests and start fixing its relations with Russia.
What exactly is America's interest in Ukraine? Other than protecting the boarders and security of Europe.
@@f9658Z bot spotted.
@@Nick-kn6ilHow naive are you? Do you really think the American Government care about Europe’s border security when Europe and America itself doesn’t even care about its borders when it comes to mass illegal immigration? Stop living in the fantasy world where Russia has the goal of conquering Europe until it gets to Portugal.
@@LathropLdST
NPC: Everyone that doesn’t align with my delusional views are Kremlin bots 🤡
Germany is much like my home country of Canada -- decision paralysis. Too much government. Too much incompetence.
The problem in Canada is Trudeau and his two pet projects: Reconciliation, which is throwing money out the window (billions), giving it to Residential School survivors, without any long term plans to improve the lives of our Indigenous people ; and the other is his quixotic fixation on saving the planet at the expense of Canada's petroleum and gas producers. Too much wishful thinking, not enough common sense! Definitely, too much incompetence!
Definitely, failure to diversified their structures in all areas. Housing and construction practices are at least 30 years behind in Canada
Too much Trudeau ( an incompetent fool )
They give money isreal like america Germany give money isreal when in the war
Canada is a one party state, we will never get rid of Trudeau.
Germany forgot to prepare for the new world to confident on its old industry :)
No it neglected it’s old industry which relocated to China…
@@Getcakedieyoung23the industries might have moved to China but the lion's share of its profits are still going to Germany.
@@danwelterweight4137 but mostly going into the pockets of a few people. we don't need more rich people, we need a healthier middle class.
@@greyfells2829 the difference between Germany and most other western countries is that in Germany all German publically traded companies must have at least 40% or more of its shares owned by the workers. I think it might even be more.
I am not sure.
Anyways so whenever a German company makes profits a huge portion of those peofits goes to the workers who work for the company in the firm of bonuses, pension contributions and dividends
This is unheard of in the Anglo Saxon countries.
But it's really fair.
@@danwelterweight4137 no. German labor is underpaid compared to EU peers, even industrial workers in US make much more than an average German worker. Corporate profits do not translate as much as good quality jobs.
I once worked with Germans, took 3 years to take a decision, by the time it was taken all money and the teams energy was gone. Never again
Way to generalize 😂 anecdotal evidence ftw
Only three years?
Another thing that drove me mad, German excel comes with four zeros after comma and they insist it must be used. Who needs a P&L where 1000 is 1000.0000
seem to be similar problem with Japan sluggish bureaucrat ton of paperwork, private sector can't move on from 80-90s , automobile industry transform too slowly till US and China have a chance to go ahead them, and politician bait the old for vote and ignore the rest. In the end of the day German should criticize former grand coalition that fail to transform Germany, Current can't barely to do anything because it's too late.
@@bombelzPersonal experiences form people's opinions.
And it is true that German officials take too much time to move things. By the time you get the necessary permissions and licenses, you do not have any enthusiasm anymore.
Seeing the issues in Germany I cant stop to think the similarities with Canada, endless oudated bureaucratic processes, that stagnate their industrial transition.
what industrial transition? moving it to vietnam? german factories are higly automated. they make all the machines used for industrial trasitions. you are thinking about worthless green tech, something that should be avoided like the plauge
So people in Germany seem so tight on their money that nobody can make big leaps… and instead of paying people more to make jobs attractive, Germany rather looks for policies to get workforce in, that has not as high expectations regarding salary and work place conditions as the people being there already. Does that make sense?
True
Welcome to capitalism!
No worry Germany his CHIEF OF EUROPE, money ll arrive or germany no givec all tnis ukraine. Germany alredy buyed energy society in ukraine😅😊
Germany have work for next 30 year in weapon, they ll receive billons from next 30 years, i m italian,,Germany is smart
China india is clima problem not Europe
when you prioritize idealogy over simple business, that happens.
Everyone wants to go to heaven, but nobody wants to die…
Germany has about the same solar potential as Alaska, which has an average of 3.08 sun hours/day in Fairbanks.
Grid-scale solar farms in Germany is just silly.
Yeap and eletric bateries will not reallywork in cold areas it will be funny to see when somebody ssy this
Germany and Europe need visionary leaders, if they want to compete with China, USA or India. For now Germany and Europe is lead by some obsessive-compulsive maniacs trying to fight climate with the windmills.
Visionary leaders think wind farms work.
indian?
Yeah India is not so much in the picture yet...GDP growth is not everything....India is decades behind USA, Europe, China when it comes to ease of doing business, research & development etc..
Let GREEN Party lead Germany!! Green party is the best!!
@@167mm167green bot🤢
So Germany doesn't have a money problem it has a communication problem
They never make small mistakes.
you mean the language barrier
no, if they have money, they dont even need communicate
It seems like Germany is ruled by kids.
No...by grandpas
As I'm hoping to relocate to Germany I'm having to factor in these facts into my plans.
Germany is a world leader 🎉🎉 they always come out on top.
They have a 58% debt 😅😅 and France 120 % 😅😅 they are rich 🤑🤑 rich .
They are just cheap but they'll have to open the pockets 😊 don't worry 3 biggest economy in the world
Madness… Look at their demographics, which they had 45 years to improve, as well(Compare the last 50 year birthrates, compaared to UK and France)… That's a vulnerable country for sure
@@Rowlph8888 worst for sure after WW2 . Demographics will change but capital always wins the have to change because the car industry is in a fall
I understand how you feel. I relocated here in 2020 (for an academic contract) hoping to stay, but I feel like the country is a bit of a sinking ship now after more than three years. They are just too inefficient and seem incapable of basic problem-solving skills at so many different levels. I love this country, and it's been a dream come true to live here, but I'd rather leave early than stay and watch or feel it sinking. I'm not sure if the situation as dire as it looks to me, but between the housing crisis and the political instability, I really don't know how they can dig themselves out of this.
Come to America, Europe is finished.
It's finished,no more cheap energy means no more production powerhouse..
Instead of a 20 year carbon plan, why not a one year carbon plan that's one twentieth the amplitude? And then measure progress every year. These long term promises only mean procrastination.
Why don't they just scrap the climate goals? This issue seems like a storm in a teacup.
Climate goals are one of most supported by voters here, so they have to pretend they do what they can, even if the opposite is true
They can't give up (officially)
I would say it would be complete failour in term of what they were preaching last 10 years. They are forcing CO2 policy on other countries and what, now they will say, ahh sorry, it's no longer profitable for us, so let's skip it. Sounds like lack of Integrity.
Part of the reason they're taking it so seriously is energy independence. That would be a gamechanger for the whole west, but especially fuel-deficient Europe. Global warming is just a nice way to dress up a serious strategic concern.
Not sure about storm in a teacup, coal is a finite source and it pollutes the air (not just climate, but also a health issue; I was born in an industrial area behind the Iron Curtain, everyone burned coal and I spent half my childhood suffocating as a result), we´ll have to switch to something else one day anyway.
Glad to see Matthew from poltico back on, he’s been one of my favorite contributors on these DW panels for years. Overall solid panel and discussion
among them all only this lady named Leonie seems to radiate positive energy, it looks like a meeting where atleast one lady is angel. 😊
i admit I was completely distracted from topic by her positive smile and charming way of communication. 👌🏼😁
Great discussion 👍. Thank you for enlightening us.🙏 The penals seem to be enjoying the discussion.
There are always available anglo - american shoes to kiss for german .
Interesting discussion
Germany didn't have government they have activist .
Leftist communist activists and it's situation would be same as ussr
This.
Yes I do agree. I hope that Germans will not jumping out of windows on 31.12.2044 because of CO2 neutrality from 1.1.2045. But I'm not sure, because as we know Germans don't make small mistakes!
Germany is arriving at the final stop on Hubris-Rail.
3:28 love the way she listens..
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank as subscriber
Germany has not “run out of money.” The debt brake can be abolished by legislation.
No, not true.
they dont control their own currency so technically they did run out of money if they need to take on debt
There are options of loans with negative interest rates. Nobody is asking them to get loans for everything, they can make a law to stop that if needed. Its all in their head. Compulsive behavior in every extreme sooner or later will show our weaknesses. Germany can take care of this.
Please inform yourself! The "debt brake" is in the constitution and you would need 2/3 of parliament's votes to override it!
@ch.k.3377 you are clinging in the same mind pattern. Never a solution will arrive like that. Your minds made those laws, your minds can change it.
@@honorpatience1301 Of course the minds that made the law can change it, you need 2/3rds of the minds in the parliament to do so. And they very much don't have 2/3rd of the seats in favour of this change, so it isn't going to happen and they know it. That is certainly not plan B
OCD is a German trait indeed.
This problem really can be summarized as one that only exists in Germany's head.
I saw the ship pulled up with rabish being shipped to some developing country in Hamburg. Better learning reduce comsuption and take the space of 3 families only for one person. Which include the cars taken both sides of the Street and in Munich
Politicians are experts on creating new unfunded liabilities. All these money needs to be earned by hard work, productivity and exports.
The Indian woman doing this interview speaks too fast. That along with her accent makes it hard to understand. Other than that, I really like DW.
Germany used to be driven by a strong engineering culture. But that was yesterday. Today ideologists have taken over who believe they can change for carbonfree future purely by decisionmaking from their office desks. Engineering knowledge is to a high extent taken out of the equation. If you came up with facts about hydrogen Infrastructure being difficult to be spread around the world because of the intrinsic complexity of the technology and efficiency issues you get blamed to be an old white man and worse. The storage issue is going to be a key issue on a technical level if we are trying to head for fossilefree future. But these ideologists don't even understand this. Huge communication bubbles between politicians and pseudo-scientific NGOs (with close links to politics) lead a discussion which is highly theoretical and does systematically exclude engineering knowhow of practically experienced experts who might come up with a critical view on the current decisions politicians are taking. I hope this will change and we will find back to the engineering mentality that used to drive the country for so many years.
Because of Shutting down their nuclear power + Cutting off cheap Russian gas supplies
EU was getting too strong but it has now become fully dependent upon US for energy and defense.German industry is talking about moving to US. You don't have to be a genius to figure out that one of the reasons to trigger the Ukraine war was to put EU in it's place.And, That's why Ukraine peace talks were stopped.
i like this discussion!
When listening to the reporter, I thought it was Doordashan!! Heavy accent - vater instead of water!! Everything is low cost now as she is saying Germany has no money !!
What an epic image of this video thumbnail, it should be a title face of a stamp issued on this historic economic situation in Germany.🧐
Germany is done. Cheap Russian gas gone, and with deglobalization pulling the rug from under its feet, it’s only a matter of time before the EU goes as well....
Reading through the comments here no one suspects the end of Russian energy nor the sanctions as the downfall of Germany.
How can Germany re-think a new economic pathway when they are still clueless about Nordstream?
Losing the EU would be the death of Europe. It won't happen, it will instead evolve.
the end of globalism is not bad for europe... its bad for everyone else.
Seems like rather than bringing all countries up under the EU concept, the opposite is happening, where Germany, one of the stronger fiscal countries, is coming down to meet the others. What a fiasco.
GREAT GUESTS….Very knowledgeable ❤
15:00 My thought exactly. I don't think it's a fail of German economy. It's mismanagement. They tried to take advantage of the pandemic fund, outside pandemic. They really should have had a plan B. German economy is pretty darn resilient, especially given the rate hike.
When you start seeing this behaviour (mismanagement) is because they desperate looking for funds. Europe is loosing to china one of their main contributor to it's welfare state - Cars. they don't have the finance and Tech (USA), chips (Taiwan/South Korea and in the future China), or Manufacturing (China). I hope all those solar panels and carbon netural will be able to pay for the wellfare fund.
….Most incompetent Chancellor in decades
yes we waited for your thought.
debt break was dumb
Lol, they rather had somebody like Trump or Putin as their leader. Nobody would care about this court in this case. They could borrow as much as they want and it actually would be Germany first not Africa first.
Germany refused to comply with Article 3(2) of the SEA Directive which directs an engineering assessment of its energy policy. The result is that its 61,000 mw of wind energy is useless. It is actually a net consumer of fossil electricity when measured over one year.
Likewise in the UK, a net zero target legally binding yet zero idea as to how or if it is even possible. Its just a huge rod up the backs of MP's, then people will complain they did not deliver...
Germany has still $0.5T to invest to be at pair with the rest of development nations. Could be to be over $1.2T in debt..
The Guy in the Brown Jacket and the lady in a blue jacket are very advanced! they have very good knowledge!
Democracy is good but it has it weaknesses that democracies can't make fast changes
This is the most rational comment on this video.
They can, sometimes. But it isn´t one of their fortes...
Have I ever seen this lady(anchor) somewhere before
I think I have
Direct result of Angela's legacy and of the new liberal/greens coalition!
Result of usa warmongers. Being no.1 puppet of biden.
Angela wouldn't have stayed quiet at Nord Stream.
A sick man of Europe got no balls left after Nord stream 1 & 2 was blown and kept quiet like Puppy need to have balls transplant before it can recover by asking who blew the Nord Stream 1 & 2, got the gut?
Time to borrow and see it through
Where did the money go? Certainly not towards military expenditures. We Americans are broke but at least we have something to show for it.
The host is so good! Reminds me of Palki Upadhyay.
As Putin said " The chancellor now is a laughing stock"🤣
Rich coming from Putin 🤣
@@CoyannnOf course, Putin probably the richest leader right now 😂. Scholz just need 1 more eye patched and he is fully blind
well what can i say, they just a loyal US servant.. even when the noodstream is blow up they not even interested to conduct the investigation... 🤣
Broken clock
@@Coyannn No other sovereign country will harm their own country like Germany did.
I wish our political parties here in the US were serious about spending within our means.
as long as you don't spend beyond your productive capacity, you're not spending beyond your means. Only real recourses, not deficits, should constrain spending
@@grimaffiliations3671 If we continue on our current track then by 2028 interest payments to make up a larger share of our spending than the military. Unless you are an adherent of Krugman-style hallucinomics, that is surely a problem.
Saving the Nord Stream pipelines would have been the best environmental protection. The gas poured into the water and air is one of the worst man made environmental disasters.
Putin is the best environmentalist in Germany.
Since Olaf and his coalition took power, Germany's economy has been sinking faster than the Titanic! And i won't even mention the situation with all those doctors and engineers...
And don’t mention the war
Its coming from previous politics...why did they shutdown their nuclear plants? And are now buying french nuclear power generated electricity xD
Whats the issue with doctors and Engineers
@@teamtokenwhat u mean
@@teamtokenIt is a below the belt attack for not wanting immigrants.
A Polish Politician used those words while trying to belittle Germany and it's immigrants.
We should remember those in need first. The climate issue shouldn't be a priority - globally.
Higher Energy cost alone could engulfed your entire budget , they should think probably otherwise China is taking over,.
Without Russian gas Germany is a kindergarten.
Most green funds can be justified in technology funds, in fact, the whole innovation is a new technique, tool, and technology.
Officially (German PM) behind the scenes US officer for German and European affairs
How shortsighted is a government who shuts down its nuclear power plants during a global energy crisis?
This is the apex of stubborness.
A clean energy source, in a country with no natural dangers (earthquakes, volcanos, etc). The technology and security protocols also evolved since Chernobyl.
I believe the government startet losing support at that particular moment. Everyone struggling to pay huge energy bills and they could not give a proper reason for that movement, with nothing to offer in exchange.
Well, that's what happens when you move from market economy to planned economy.
Quality of German product has gone bad .
If all countries in the world were to adopt the same measures, then Germany should feel guilty for not achieving its goals. However, if countries such as China, Russia, and other major powers are heavily polluting and fiercely competing with Germany, without caring for the environment, then I don't think Germany should cling stubbornly to these standards.
They could ask ChatGPT. Maybe it has the answer for the budget problem.
Horrible background music we can't hear what you're saying remove music
That's is what happened when you put someone else's interests before it's own national interests. Slava Ukraini.... Amen!!!
Whenever long term risk aversion fails i get so happy.long term risk aversion will fail miserably.
If the economy is not well in Germany Imagine in others countries in Europe. I lived in South America and the german companhies are the companies that everybody wants to work. Good salaries, good work conditions , good plans to retire.
As a German living in Germany (for now), I can tell you it's not that good as you'd think anymore... Neither the salaries, nor the retirement plans.
@@photoreactiveart4007and I'm struggling with electricity 😫 heating cost expensive
You mean like #2 economy China? What about America #1 economy? It seems like the economy is stuck in doldrums while the greedy investors demand more profits.
@@photoreactiveart4007 Probably still better than a lot of other options... I´m Czech, my sister is a textile industry expert and she used to work for an Italian company. Not bad, but a bit chaotic and the wages were horrible. Now she works for a German company, the organization is good and the wages, if not great, are better. There´s more order and stability in general, which is what you want in these unstable times, especially if you live in a country that isn´t far from Ukraine.
@@martavdz4972 she went to italy for a reason far different than wages, haha. obycejna ceska kurwa.
Germany hasn't been the world's third largest economy for at least two decades. China, USA, and Japan have been larger for a long time, and within the last two months both Russia and India have also overtaken it.
I’m having a bit of trouble understanding some of the things the host says.
Shutting those nuclear power plants over the last 10 years is showing itself to be a huge error. The money was already spent on building them
😂😂😂 good work boyz
Brazil has a potential of feeding Europe economy with green hydrogen. Despite the French farmers were against a Mercosul x Europe Union's agreement. It could be put aside and would be possible to reach an agreement only on energy bases, for start.
Long past & about time the Consitutional Court got in.
Mathew looks more like a football player than a political observer. Did his parents force him to take current job 😅
Just take loans as all countries do. The trick is to invest it wisely
Good discussion as usual. Thank you DW! Germany absolutely needs that fund RIGHT NOW, for its own and the world's existential security in the form of military and environmental threats.
Also why does Germany's industry have to be in trouble? I don't understand, they build machine parts and the whole world is looking to build new military, microchip, electric vehicle, and renewable energy infrastructure parts, and they are finding it really difficult to find the machinery necessary. Why can't Germany step in for this given their expertise? Most Russian mil production lines were based off German machinery for example.
Because manufacturing in Germany has become much more expensive so companies are leaving Germany for the US and other countries
@@johnrosschisholm5740 oh right, got you. But arent they, the dutch and the French the only ones who make certain manufacturing machine parts? Surely they can use that monopoly to some advantage right now.
Invesment in technology is neccesary
I bet they miss nord stream 2 now.
I am Lost as to how America (Trillions in Debt ) is considered so Wealthy.
70% of that debt is owned by Americans. Someone's debt is another's income. In other words, they pay interest to themselves. And since the $ is the reserve currency, other countries who need $'s buy their debt which the US can always repay because they are monetary sovereign.
Anyway if the ratio is too high the state ends up paying a lot of interests especially nowadays with higher interest rates. That means that less money is spent on welfare and public sector and likely cuts. That may mean that _some_ Americans become richer but the state becomes poorer and they are not going to build streets, just the state does that. Plus it increases inequalities. It may also lead to a point (probably in a distant future if left uncontrolled) in which they fail to repay the interests.
Also the dollar has become a reserve of value but it doesn't mean that things can't change as they already did multiple times in history.
The answers are the Dollar$ and the militar power!
Easy to say, hard to implement
Pipe line is the big elephant in the room.
Germany ids a thing of of past. The Future is in Asia . Better education fast moving. Family oriented
2 and a half minutes and i hear dept brake, and dont have to look no further.
Peter Zeihan...? Are his points being illustrated? Specifically about their industrial models structural collapse. Not harping on a drum, just tossing around an idea
Better is for peace, stability, happiness, Ownership of ur own life..
what is this techno music on the video back ground! ?
The future generation has nowhere to live with the rising rent prices.
I don't want to sound weird, but it is really hard to understand with the heavy accent... It was supposed to be broadcasting internationally
I am sarcastically smiling as the awful and dogmatic policies of fiscal discipline have finally backfired to their source.
we need to solve our problem now not future problems, everythings Price is unbeliveble right now. germany need to wake up
where are the high enegery prices? i only see all time low i dont pay more then i did 2012 or 2015
You can't take a credit if you're not able to pay it back! Sorry, Winnetou!
The sound effect sooooo tooooo much!
i believe there shouldnt be such discussions on such an exaggerated level...i agree that there would be a problem but exaggerating it would make it more serious , complicated and it could panic the whole nation...moreover, media plays an important role now a days...every topic should be discussed under limitations..what makes me angry is that media behave as if only the media have brains...i believe every citizen would try his/her best to put efforts for the betterment of the country
if things look bleak and there are no clear sings that things will improve, perhaps it's good to keep discussing and keep focus until good ideas for change appear. Shutting down nuclear power plants and building factories for microchips in a country where most people barely know how to turn on their computer does not seem like a solid plan.
@@haakonah i definitely agree with u but look at the thumbnail...no more money for the future!!! dont u think it would panic the readers?? this was my point...highlighting the problem is a good thing but exaggerating it would even make the problem worse
Good point, the reality is that this green scam will blow over. The future is fossil fuel.
Is there a reason DW news hiring a news anchor with an Indian accent? They trying to become the new Comedy Central?
The price of being a vassal state!😂😅 can you imagine how much money Germany would have if Ukraine would have been neutral 😂😂😂😂😂😂
They spent lots of time compare us and Germany. US have lots of oil, self sustainable in terms of gas, and have the biggest pool of nuclear stations. Germany doesn't not have any of that at all. So, when Germany pays triple price for gas (at least), US as the best Germany's friend collects the triple profit and partly invests it in green staff, maybe.