Germany must accept leading military role, says defense minister

GR

German Defense Minister Christine Lambrecht said on Monday she believed Germany was obliged to play a leading global role, including in the military sphere, and that the country should not be afraid of the responsibilty.

"Germany's size, its geographical situation, its economic power — in short, its clout — makes us a leading power whether or not we want to be one. Militarily as well," she said in a keynote security address in Berlin.

Her remarks come as Europe is struggling to come to terms with the fallout from Russia's invasion of Ukraine, with Germany rethinking its defense strategy after decades of major dependence on Washington for its security. 

"The war in Ukraine has shown everyone, even us Germans who are used to peace, that states need armed forces as a last resort — that is, whenever an enemy is determined to use invasion, destruction, murder and forced displacement" as means to serve its interests, she said.

Read more at: ermany must accept leading military role, says defense minister | News | DW | 12.09.2022

Germany: Olaf Scholz dreams of a larger Europe - Opinion

It was a typical Olaf Scholz speech: the chancellor spoke very calmly, almost emotionlessly. And yet there was a great deal of content: the European Union should become a powerful global player, a top region for business and technology, a large, sovereign, and pragmatic community of values that can defend itself. Who wouldn't agree with that?

Scholz clearly declared his support for further rounds of enlargement. Above all, the states of the Western Balkans, but also Georgia, Moldova, and Ukraine should all become members of the European Union, according to Scholz. In the foreseeable future, this could mean 36 EU countries

Read more at: Opinion: Olaf Scholz dreams of a larger Europe | Opinion | DW | 30.08.2022

Corporate Capitalism: Trickle-Down Economics: Theory, Effect, Results

Trickle-down economics assumes that investors, savers, and company owners are the real drivers of growth. It expects these entities will use any extra cash from tax cuts to expand businesses. Investors will buy more companies or stocks. Banks will increase lending. Owners will invest in their operations and hire workers. All of this expansion will trickle down to workers. They will spend their wages to drive demand and economic growth.1

NOTE EU-Digest: Trickle down economy is a total scam, and has given Corporations far too much economic and political power. This trend can only be turned around today, by a revigorised, strong, organized, and unionizsc, labour force.

Read more at Trickle-Down Economics: Theory, Effect, Results

The European Union: More united than ever - Opinion - by Miguel Otero Iglesias

The notion that the European Union has never been less united than now has taken hold in the public consciousness. The recurring theme is that EU countries are unable to agree on euro reforms, on migratory flow management, on how to deal with growing aggressiveness from the US, Russia and China, and that the rise of national populism will further undermine the Union to the breaking point.

Divisions exist, and they are serious, but a calm and collected analysis, with historical perspective, shows that Europe is probably more united today than ever before. And to convince ourselves of this fact, it is not necessary to recall the centuries’ worth of European conflicts ranging from the Hundred Years’ War to World War II. It is enough to review the last 60 years of European integration.

Let’s break it down into decades. In the 1960s we had the Empty Chair Crisis, triggered by a De Gaulle, who felt considerably more French than European. Then, in the 1970s, we had the collapse of the “snake in the tunnel” (an attempt at monetary cooperation) that buried the Werner Plan and triggered years of tensions between France and a dominant Germany, which imposed the tyranny of the Deutsche Mark. And in the 1980s we had the crisis of Thatcher’s “handbag” and the Fontainebleau agreement institutionalizing the rebate for the UK on its contribution to the EU budget, a historical mistake that firmly established “English exceptionalism.”

There are those who will think that the 1990s, with the fall of the Berlin Wall and the signing of the Maastricht Treaty, were years of greater unity. Not in the least. The United Kingdom did not join the euro, the Danish voted against it, and only 51% of French citizens supported it. It was a narrow victory, and meanwhile there were many voices opposed to extending EU membership to Eastern European countries. These tensions flared up again in the first decade of the 21st century when the French and the Dutch voted against the European Constitution.

Read More at: The European Union: More united than ever | Opinion | EL PAÍS English Edition

EU: Why not recreate the European Community? -by Koert Debeuf

The EU leaders know that the union needs some reforms and therefore created the Conference on the Future of Europe.

However, they said from the outset that there is no room for treaty change. But the question is if a fundamental treaty change is not exactly what the EU needs to get out of the choppy waters?

Is it not time to acknowledge a few new realities and turn some weaknesses into some strengths?

Read more at: Why not recreate the European Community?

Turkey: Deadly 7.0 earthquake rocks western Turkey, Greece

A strong earthquake struck the Aegean Sea on Friday and inflicted damage in both Greece and Turkey, where buildings collapsed killing at least four people with many others trapped in the rubble.

Read more at: Deadly earthquake rocks western Turkey, Greece | Greece | Al Jazeera

EU Economy: Strong 2018 economy forecast spurs Commission optimism- by Eric Maurice

EU finance commissioner Pierre Moscovici on Thursday (3 May) brushed aside concerns about a slowing down in the EU economic recovery.

"The lights are flashing green," he told reporters while presenting the European Commission's latest forecasts.

Read more: Strong 2018 economy forecast spurs Commission optimis

U.S. Economic Forecast: Growth of the economy to continue through 2018

For the first time since the middle of 2014, the US economy has sustained 3 percent growth for two consecutive quarters, providing strong momentum into next year. The current Conference Board forecast calls for 2.8 percent growth during the final quarter of 2017 and 2.5 percent growth in 2018.

This would represent the economy’s best 2-year run since 2005.

Business investment has awakened from the doldrums this year, rising by more than 4 percent after falling into negative territory in 2016. Confidence in the manufacturing sector has been especially strong.

The composition of growth supports a long-term improvement in productivity. Capital equipment has risen at an 8.7 percent annual rate during the past two quarters, while investment in warehouse structures is up more than 20 percent since the end of last year. These investments demonstrate a renewed firm commitment to increased efficiency.

Consumer spending eased a bit in the third quarter, but with The Conference Board’s Consumer Confidence Index still strong and housing prices rising, expect a robust holiday season.

One encouraging sign was the pickup in motor vehicle spending thanks to renewed demand following the two hurricanes. Should employment growth rebound quickly from last month’s storm related decline, tighter labor markets should translate into a renewed wage acceleration which could boost spending late this year or into 2018. The possibility of federal income tax cuts could do the same.

The economy enters 2018 in good position to maintain strong growth from 2017.

Current Fed chair Janet Yellen and new Fed chair nominee Jerome Powell may raise rates slightly faster as a result. These expectations have led long-term rates to rise modestly.

The dollar has also started strengthening since early September after weakening through much of 2017, creating less favorable terms of trade. Higher capital costs and the possibility of a less supportive external environment for growth have not rattled the market yet.

With growth prospects strong for 2018, profits should grow robustly as well, rewarding those businesses that increase investment levels.

Read more: U.S. Forecast | The Conference Board

ECB concerned stronger euro could derail economic recovery

European Central Bank (ECB) governors are concerned that a further hike in the value of the euro, making exports less attractive and imports cheaper, could derail the economic region’s recovery. In minutes from their meeting on 19-20 July 2017, released on Thursday, they said there is a "risk of the exchange rate overshooting in the future". Some concerns were also voiced about "policy uncertainty in the United States".

Read more: ECB concerned stronger euro could derail economic recovery