• @redtea
    link
    610 months ago

    Germany has been Europe’s economic engine for decades, pulling the region through one crisis after another.

    I think they mean, ‘Germany has been Europe’s economic engine for decades, pulling wealth out the rest of the region through one crisis after another.’

    I love how the article says Germany has the worst economy of the G7 in such a way that makes it seem like the other 6 are doing well. But really, 3 are hovering under 1% growth and the other three are between 1% and 1.5%.

    Much of Germans’ money is held by a network of around 360 public-sector savings banks, so-called Sparkassen. These institutions are controlled by local communities, raising potential conflicts of interest while also diluting the country’s financial muscle.

    How dare local community representatives risk making decisions that benefit their community at the expense of big capital! The horror! Sounds like the author wants wholly private banks to replace Sparkassen. Private banks being renowned for having no conflicts of interest (people genuinely believe this).

    …the next national election in 2025, “other political constellations could stall the energy transition again. That would not be good for Germany as a place of business.”

    Same old scare tactics: vote right and propagandise everyone around you to vote right or ‘business’ will leave. Good riddance. Unless business comes to where I live after leaving Germany, in which case it can keep the scoundrels.