Global Geopolitics called it, you witnessed it: The United States and Germany, though the European Union it dominates and runs, are locked in economic warfare against one another.
It’s a very dangerous game America is playing by trying to gut the largest economy in the world, the European Union, especially when nations are beginning to jump to the Sino-Soviet bloc.
German parliament’s economics committee chairman Peter Ramsauer says he believes the $14 billion fine being leveraged against Deutsche Bank is part of a long US tradition of waging trade and economic war.
- Ramsauer to Welt am Sonntag: Washington has a “long tradition” of waging trade wars, if they are favorable to the US economy, and the Deutsche Bank case is an example of that.
- “The threat to force Deutsche Bank to pay a $14 billion fine over its mortgage-backed securities business before the 2008 global crisis has the characteristics of an economic war.”
- “Extortionate damages claims” in the case are an example of that.” Continue reading
The European Commission insists that it knew nothing about diesel emissions manipulations perpetrated by Volkswagen and other automobile manufacturers. Documents obtained by SPIEGEL ONLINE show otherwise.
Since at least 2010, the European Commission has been in possession of concrete evidence that automobile manufacturers were cheating on emissions values of diesel vehicles, according to a number of internal documents that SPIEGEL ONLINE has obtained. The papers show that emissions cheating had been under discussion for years both within the Commission and the EU member state governments. The documents also show that the German government was informed of a 2012 meeting on the issue. The scandal first hit the headlines in 2015 when it became known that Volkswagen had manipulated the emissions of its diesel vehicles.
The records provide a rough chronology of the scandal, which reaches back to the middle of the 2000s. Continue reading
By now it should be clear where Europe, or Germany rather, stands in regards to its dealings with Russia and what side it will likely take should it have to decisively choose between it and the West.
BERLIN/MOSCOW (Own report) – In the debate over a possible expansion of EU sanctions against Russia, the German chancellor is suggesting a possible continuation of cooperation with Moscow. “In the intermediate and long term,” Merkel explained, “the close partnership with Russia should be continued.” She sees “no necessity” in a policy of “isolating” Russia, patterned on the cold war’s “containment” policy. Merkel was reacting to the persisting anxiety in leading German business circles, that sanctions against Russia could seriously dampen their expansion opportunities. This is not only an anxiety shared by gas companies, but also by top corporations in other branches with significant commercial and production sites in Russia. On the eve of the Russian president’s visit to China, observers are warning that if the EU and the USA impose boycott measures, Moscow could forge also stronger ties to Beijing, thereby tangibly strengthening China. Hard-core transatlantic circles are up in arms over the prospect that cooperation with Moscow could be continued – pleading for the creation of a global front of NATO countries and their allies against Russia and China. Continue reading