Tag Archives: social market economy

Brüderle: Closure of the marketing fund is good signal

January 27, 2011   admin   2 Comments

Berlin (Dow Jones) – Federal Minister Rainer Brüderle (FDP) has considered the closing of the Business Fund Germany as a "good signal" and sign for the progressive phasing out of economic stimulus packages.

The expiry of the Fund shows that Germany had allowed the crisis largely behind him and with power going forward, Brüderle said on Tuesday in Berlin with the adoption of the members of the Steering Council’s corporate financing "of the Management Fund Germany.
"This year we expect 2.3% growth in Germany, and it will continue to go well in our estimation, in the further development," said the minister. The government programs should therefore be back again. State and the market would again in a different balance to be brought back and returned to orderly lines of the social market economy. "If not it’s raining, do you do to the screen," said Brüderle. In addition, growth should be steadily reduced the national debt.
The Business Fund Germany was set up in early 2009 to help businesses in coping with financial problems, which were incurred following the economic and financial crisis. Total volume was 115 billion EUR. There have been forgiven loans and guarantees totaling some 14 billion EUR. In total, nearly 20,000 businesses have received a commitment. At the end of 2010, the Economic Fund of Germany has been closed.
Brüderle thanked in the adoption of the Governing Council, its volunteer members for their work. While the economic and financial crisis, the "Lenkungsrat corporate finance" the government advice on the procurement of large loans and guarantees from the Economic Fund of Germany. Members of the Governing Council were Hubertus Erlen, Martin Hellwig, Jürgen Heraeus, Walter Hirche, Nikolaus Knauf, Michael Rogowski, Hubertus Schmoldt, and Alfred Tacke.

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Living standards of East grew significantly

September 13, 2010   admin   No comments

Ansicht von Dresden: Den Zielen „schon recht nahe gekommen". Quelle: ap

View of Dresden: the goals "already come quite close . " Source: AP

HB BERLIN. The standard of living of East Germans has increased after a study by the Ifo Institute Dresden significantly since the reunification. The Sunday of the magazine Super Illu " published survey conducted for the Initiative New Social Market Economy has come to the conclusion that the initial expectations were about the speed of catching-up in the new countries are not fulfilled, it is nevertheless the goals but " already come quite close . "

This is shown by the detail that particularly in the development of wages and pensions, as well as in economic performance in medical care and education . Accordingly , the east-west gap of gross wages in the past 20 years has decreased significantly. In 1991 the East salaries would amount to an average of only 57 percent of Western levels, there are now 83 percent , the study found.

However, the east-west alignment of public and private service sector is more advanced than in manufacturing. The pensioners in the new countries , today received an average of € 810.92 a month with a significantly higher pensions than those in the West ( € 697.53 in 2008) .

The net financial wealth of the East German households , the study found that increased an average of € 10 900 to 26 700 euro in 2008. This represents 53 percent of the western level compared to 35 percent by the end of the GDR.

The gross domestic product (GDP ) per capita has increased the information that in eastern Germany since 1991 by 100 percent – from 9751 to € 19 500 € in 2009. In West Germany , GDP per capita over the same period rose by only twelve percent. However, in absolute terms still give a clear west- east gradient , it said.

A tremendous surge in the productivity of the economy East : 1991 were 77.2 hours necessary to reach € 1000 economic performance. Today there are only about 29 hours.

The medical care in East Germany has indicated that total significantly improved. Kamen statistically in the fall time 246 doctors per 100 000 population , so there are now 348 doctors. This development and the improved environmental conditions was due to the fact that life expectancy has increased in the new countries by about six years , according to the Ifo study.

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Study: rescue of German banks can cost up to 52 billion EUR

July 30, 2010   admin   No comments

2010-07-11_skyline ffm_ddp BERLIN (Dow Jones) – The rescue of German banks may cost federal and state estimated 34-52 billion EUR. This would correspond to 1.4% and 2.2% of gross domestic product ( GDP). This is the result of his financial expert Kaserer comes in on behalf of the Initiative New Social Market Economy ( INSM) generated study which was presented in Berlin. ( Reuters photo :)

Consequently, each inhabitant of Germany by the bank rescue with 417-632 EUR would be chargeable .
The most money have to pay federal and state governments to save the financial institutions they control . " The direct costs are incurred to the financial crisis to 80 % in state banks, " said Kaserer , who teaches financial management and capital markets at the Faculty of Economics of Technical University of Munich. That was the price for a bad control and years of tolerating unfit business models by the policy . The bank rescue measures would have also led to further increase the state share .
INSM – CEO Hubertus Pellengahr , demanded that the policy had consistently as owners retire from the banking sector in order to minimize the risk of liability of the taxpayer. The financial crisis has shown that a state- dominated banking sector mountains enormous financial risks for the taxpayers themselves. It also limits the growth and innovation dynamics of the financial sector. A so-called exit strategy must be developed both for the equity of formerly private institutions as well as for regional banks .
As a first step, the financial expert before Kaserer to restructure the state banks . These would focus on core competencies. Then the way for privatization would be free. This could be " discriminatory outcome and left " the market. For the formerly private banks such as Hypo Real Estate ( HRE) and Commerzbank recommends that the financial expert, the holdings in the market or to a financial investor to sell .

Website: www.insm.de
By Beate Preuschoff , Dow Jones Newswires
+49 (0)30 – 2888 4122, beate.preuschoff @ dowjones.com

DJG / bep / apo / voi

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Brüderle again against mediation of the government in Karstadt

July 07, 2010   admin   No comments

BERLIN (Dow Jones ) – Federal Minister Rainer Brüderle has spoken out again against a contribution from the federal government in the decision making process in the acquisition of the bankrupt department store chain Karstadt. The federal government is not the better decision-maker , said on Tuesday Brüderle in Berlin on the sidelines of an event of the Federation of German Industries ( BDI).

One of the interested investors have received the award for Karstadt. This had to negotiate with the owner consortia reasonable rental terms. " This would need to be well within the High Street consortium on the rules, " said Brüderle . There were sitting " honest businessmen " at the table. " In regulating the social market economy, which together , the state would not be a better decision makers than the practitioners , "said Brüderle .
Against the background of the ongoing negotiations for weeks to rent for the Karstadt stores investor Nicolas Berggruen had asked the policy for help. "We want, if it continues not to address in the coming days , the German government so that it acts as an intermediary on the authorities "had Berggruen the Handelsblatt said for its Monday edition . Berggruen negotiating for several weeks to Mietnachlässe for most of the branches of the department store chain.

Website: www.bmwi.de
- By Beate Preuschoff , Dow Jones Newswires , +49 ( 0) 30-2888 4122 , beate.preuschoff @ dowjones.com

DJG / bep / jhe / dok

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Study: EU-based direct agricultural income substantially

March 16, 2010   admin   No comments

MUNICH (Dow Jones) – The Bavarian Farmers Association (BBV) has now re-issued for the receipt of EU direct payments as an operating base protection and as part of the social market economy for the farming families.

) Must be supplemented in the future of the Common Agricultural Policy (CAP or a safety net is added to deal with extreme market fluctuations quickly and temporarily available market instruments, called the BBV in Munich. This refers to the association have been approved by the EU Commission published the results of the study Scenar-2020-II to European agriculture. This involved the agricultural scientists to come to the conclusion that could be achieved with a reduction of agricultural subsidies and an end of border protection, many farmers on agricultural production is no longer sufficient income. Would result in Eastern Europe about 40% of the farmers and give up in the old EU-15 about 25% of farms, the authors note. According to BBV, the EU direct payments in Bavaria in the last marketing year accounted for approximately 60% of agricultural gross monthly income. After the forced some 200-page study by the European Commission alone would be at a significant reduction in direct payments, in Bavaria, one in four operations to stop the farming activity.

DJG/12/jc/ste/sch

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