BERLIN (Own report) – The German government is proposing a new industrial strategy to shield German companies from takeovers by foreign corporations, while facilitating mergers of large German and EU corporations. The “National Industrial Strategy 2030” presented yesterday, by Germany’s Minister of the Economy Peter Altmaier intends to enable the German industry to prevail in global competition against Chinese, as well as, US corporations. So-called “national” or “European champions” are needed, even if they do not comply with current anti-trust regulations. This has been a proposal in Berlin for quite awhile. Measures are needed “to secure” or “regain Germany’s and the European Union’s economic and technological leadership.” This is also in response to a protectionist race to reindustrialize the USA and the EU, which was launched under Barack Obama and is now being accelerated by the Trump administration.
As the world watches breathlessly if Trump will follow through with his threat to slap steel and aluminum import tariffs, Europe continues to quietly ratchet up its own trade war with China and nobody seems to mind. Continue reading
LONDON — Germany plans to subsidize an Israeli procurement of naval corvettes.
The German government said it would contribute to the purchase of four corvettes for the Israel Navy. The government said the subsidy for Israel was approved by the parliament in Berlin. Continue reading
This shouldn’t necessarily be a shocker given that Germany has historically been militarily aligned with the Arab bloc. However, this gives a good indication of how the region is dramatically changing with Israel’s neighbors that once used to be peaceful enemies. Over 30 years of stability in Egypt has been overturned and this is the new creation.
German arms sales to foreign countries have to be approved by a federal security commission, whose discussions and decisions are not disclosed.
The Internet site of the weekly Der Spiegel on Tuesday revealed that the commission was due to discuss the proposed sale again even though it gave the green light in November 2011.
The agreement for Germany to supply Egypt with the two conventional diesel-electric submarines manufactured by ThyssenKrupp was first revealed by the commander in chief of the Egyptian Navy Osama al-Gindi two weeks ago in an Egyptian newspaper.
A few days later the Israeli daily Yediot Aharonot quoted government sources as saying there had been “a marked deterioration in relations between Israel and Germany” over the deal.
Full article: Germany rejects Israeli pressure over subs sale to Egypt (Defence Talk)