German Finance Minister Olaf Scholz on Monday urged Chancellor Angela Merkel’s conservatives to support far-reaching steps on climate protection, warning that failure to do so would raise questions over their coalition’s right to rule.
Senior members of Scholz’s co-ruling, center-left Social Democrats (SPD) and the heads of Merkel’s CDU/CSU conservative bloc were due to meet behind closed doors on Monday to prepare a comprehensive package of climate protection measures that are likely to burden the federal budget massively.
A senior government official told Reuters last month that the Finance Ministry was toying with the idea of issuing new debt in the form of “green bonds” which could help finance the costly climate protection package.
“We need a big leap in climate policy if, as a government, we want to continue to have the authority to lead the country,” Scholz, the deputy SPD leader, said in an interview with Der Spiegel magazine.
“Thinking small on climate protection does not help. We have to get away from a policy where we do not dare to do the right thing just because we are too anxious about possible reactions.”
The coalition partners held off a surge in far-right support in two state elections in eastern Germany on Sunday, averting an immediate crisis for the ruling alliance.
But the populist Alternative for Germany (AfD) came second in both Saxony and Brandenburg as it harnessed voter anger over refugees, the planned closure of coal mines in the formerly communist east and the government’s policy in general.
The climate protection package is likely to include a pricing mechanism for carbon emissions and payouts for low-income families to cushion the effects of the new measures.
The so-called climate cabinet, including Merkel, Scholz, Environment Minister Svenja Schulze, and Economy Minister Peter Altmaier, is expected to seal the package and decide if the new measures can be financed without new debt on Sept. 20.
As the economy teeters on the brink of recession and borrowing costs have turned into premiums, SPD parliamentary leader Rolf Muetzenich joined the growing chorus of voices who want Berlin to bury its self-imposed balanced budget rule.
“We should take advantage of the opportunities offered by a long period of low-interest rates,” Muetzenich said in an interview with Frankfurter Allgemeine Sonntagszeitung.
The government should, therefore, take on new debt to increase public investment in climate protection, infrastructure, and digitization, he added.
A spokeswoman for the SPD parliamentary group said that Muetzenich discussed all relevant topics with Scholz on a regular basis, including budget issues.
A Finance Ministry spokesman declined to comment.
Read rest at Reuters
It seems that Germany is going full steam ahead towards destroying its economy which would send Europe into a huge recession. That recession would spread across the rest of the globe. US has to stay strong, rejecting any Green New Deal, or we may well see a second Depression. But then that might finally cause the citizens to rise up and throw off all this Green nonsense fighting a fictitious War on Carbon.
What the heck is with Germany ? They are on a self destruct mode because of some rent seeking fraudsters .
Going to control the earths temperature are they ?
As Steve says…. if Germany sneezes the rest of Europe gets pneumonia.
People riding the rails could care less about the fraud man made global warming . How many people have to die before the fraud ends ?
The IPCC is already trying to distance from the dogmatic political messaging
all pointing back to the scientists and puppet master controlling the IPCC .
When shit hits the fan (and its coming ) the politicians will blame an empty tent of unplugged computers and scientists feeling the urgent need to spend more time with the family . IPCC….. say what ??? No they will say, well I was on a few committees but those weren’t my words. Oh no not me .
A blameless fraud of the century and like lordy lordy Comey the ring leaders
walk with bags of cash .
As the German economy teeters on the brink of recession they want to take on a great deal of debt to implement a plan that will harm the economy. How will they pay off the debt with a ruined economy?
The plan will include a tax on carbon dioxide emissions. Germany is right next to France. I would think they would have learned from the back lash against similar taxes in that country. However, this would require some intelligence.
I thought Germans were smarter than that . The only European country with a pulse and they want to trash it . Whats the cost of gas in Germany ? It’s bad when it’s as much as a Starbucks Macchiato .
Eat or heat Germany coming to someone you love . Very sad .
Germany is busy committing economic suicide over the climate hysteria. It is depressing to have to watch this.