The head of the Bundesbank does not see Germany facing a serious economic crisis
FRANKFURT – Bundesbank President Joachim Nagel sees no danger of a severe economic downturn in the new year, despite further hikes in interest rates. “I am optimistic that we can avoid a serious economic crisis,” Nagel said in an interview with the “Journal for the Entire Banking System”, published on Monday. With the statements, the adviser to the European Central Bank (ECB) reaffirmed previous statements, but also pointed out “many problems” and made clear his concern about the drop in economic production.
ROUNDUP: Lindner promotes the abolition of the solidarity surcharge
BERLIN – Finance Minister Christian Lindner continues to advocate reducing the tax burden for citizens and companies. “For example, the abolition of the so-called solidarity surcharge would quickly improve our country’s competitiveness,” said the head of the FDP at the German Press Agency. Soli has now been abolished for most taxpayers, but the top 10 percent continue to pay it.
Czech Republic produces record amount of nuclear power
PRAGUE – The Czech Republic’s nuclear power plants produced more electricity in 2022 than ever before. They fed around 30.8 terawatt hours into the grid, operator group CEZ announced on Monday. That was about 110,000 megawatt hours more than in 2021. “During the energy crisis triggered by Russian aggression against Ukraine, both the Dukovany nuclear power plant and the Temelin nuclear power plant increased their output,” a spokesman said. .
ROUNDUP: Number of people employed at record level – important immigration
WIESBADEN – Never before in reunited Germany have so many people been employed as last year. 45.6 million people, 1.3% more than the previous year, worked in Germany in 2022, as reported by the Federal Statistical Office on Monday. This offset the damage from Corona and surpassed the previous pre-crisis year 2019 high of 45.3 million people. After 14 years of uninterrupted growth, the number of people employed fell in the first Corona year of 2020 and slowly recovered in 2021 with a growth of 0.1%.
ROUNDUP: Eurozone industrial sentiment continues to improve
LONDON – The sentiment of industrial companies in the euro zone continued to improve at the end of last year. The S&P Global Purchasing Managers’ Index rose 0.7 points in December to 47.8 points, the S&P announced on Monday in London following a second estimate. A provisional result was thus confirmed as expected.
German companies in the UK behave after Brexit
LONDON – The recession and fallout from Brexit are also taking a toll on German companies in Britain. A survey of future expectations gave a rather mixed picture, the head of the German-British Chamber of Industry and Commerce (AHK) in London, Ulrich Hoppe, told the German Press Agency. However, he emphasized that the outlook for the British economy was significantly worse.
OECD expert: Teaching profession in Germany is unattractive
BERLIN – OECD Director of Education Andreas Schleicher is calling for reforms in the German school system to make the teaching profession more attractive. But that doesn’t mean more salary, he told the “Stuttgarter Zeitung” and the “Stuttgarter Nachrichten” (Monday). “Teachers in Germany earn enough money. Financially, the work here is very attractive, also and especially in international comparison.” But even a well-paid, secure job as a civil servant doesn’t attract more people if working conditions aren’t right, said the expert at the Organization for Economic Co-operation and Development.
ROUNDUP: You are reading a summary in the business cycle overview. There are several reports on the dpa-AFX news service on this matter.
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