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Post by bancroft on Nov 28, 2023 17:49:32 GMT
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Post by Red Rackham on Nov 28, 2023 18:44:16 GMT
From your link Bancroft... ...Deutsche Bank (DB) has dealt a significant blow to Germany’s economic outlook, reducing its 2024 GDP forecast by a substantial 0.5 percentage points to -0.2%. The revision follows a budget crisis.
I'm sure Oracle [Other Europhiles are available] will point out that Deutsche Bank are wrong and will no doubt furnish us with many spurious and half baked reasons why. In fact Deutsche Bank's biggest mistake is not hiring Oracle as an advisor.
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Post by bancroft on Nov 28, 2023 18:53:39 GMT
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Post by Red Rackham on Nov 28, 2023 20:45:13 GMT
Good find Bancroft... ... On November 15 Germany’s top court ruled that € 60bn in unspent covid-funds were unconstitutionally relocated to a climate action fund...this leaves a gaping hole in the budget for next year... the ruling puts a bomb under the German fiscal framework. With so many challenges ahead (energy transition, geopolitical tensions, digitalization just to name a few) this poses a serious risk to Germany’s ability to solve them in a coherent manner.
This shows not only that the German 'traffic light coalition' vision of a renewable economy is unaffordable, but also highlights the fact that PR multi party coalitions are a recipe for disaster. The green dream + PR and multi party coalition governments = Germany's position as a fiscal role model is in serious doubt.
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