Scholz calls on Germany to pull together to remove economic 'mildew' | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
June 11, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JUNE 11, 2025
Scholz calls on Germany to pull together to remove economic 'mildew'

Global Economy

Reuters
06 September, 2023, 03:40 pm
Last modified: 06 September, 2023, 03:46 pm

Related News

  • Germany to boost military by up to 60,000 troops under new NATO targets
  • NATO to ask Berlin for seven more brigades under new targets: sources
  • German court to rule on Peruvian farmer versus RWE climate case
  • Germany threatens steps against Israel as tone shifts over Gaza
  • Germany shifts tone on Israel over 'incomprehensible' Gaza carnage

Scholz calls on Germany to pull together to remove economic 'mildew'

Reuters
06 September, 2023, 03:40 pm
Last modified: 06 September, 2023, 03:46 pm
German Chancellor Olaf Scholz holds a news conference following a virtual meeting with fellow G7 leaders, in Berlin, Germany, December 12, 2022. REUTERS/Michele Tantussi
German Chancellor Olaf Scholz holds a news conference following a virtual meeting with fellow G7 leaders, in Berlin, Germany, December 12, 2022. REUTERS/Michele Tantussi

German Chancellor Olaf Scholz on Wednesday called on the ruling coalition, democratic opposition and local authorities to pull together to overcome the "mildew of red tape, risk averseness and despondency" that has spread across Europe's largest economy in recent years.

"The citizens are fed up with this standstill, and I am too," Scholz said in a speech to the Bundestag lower house of parliament during a session on the 2024 budget, sporting a black eye patch following a jogging accident.

The chancellor announced a new "Germany pact" with a bundle of measures aimed at reducing bureaucracy, speeding up approval processes for new construction and digitising citizens' access to key government services.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The pact sets out a range of goals to be achieved in consultation with powerful regional governments including swifter online consultation processes for wind farms and transport and data networks, a government document showed.

"Citizens want orientation, courageous compromises," Scholz said. "That is my demand of us all: the government parties that have argued too loudly in recent months and also the democratic opposition."

This was also key, he said, to fend off "those who want to draw political profit from decline scenarios and panic-mongering" in reference to the far-right party Alternative for Germany (AfD), which has surged in polls over the past year to second place, well ahead of Scholz's Social Democrats (SPD).

This "so-called alternative" was in reality a "demolition commando" for our country, he said in unusually harsh terms.

The chancellor rejected the idea of fresh stimulus to boost an economy battling high inflation, financing costs and a drop in exports.

"I set no store by a debt-financed flash-in-the-pan so-called stimulus program that would counteract the European Central Bank's attempts to fight inflation," he said.

The government was already investing record sums, he said. The 2024 budget foresaw it investing 58 billion euros from its climate fund in hydrogen, the chip industry, climate-friendly mobility, digital infrastructure and building renovation.

It was also investing 54 billion euros from the regular budget in railways, new bridges, faster internet, charging stations, social housing and a climate neutral economy. Rail operator Deutsche Bahn alone was getting 24 billion euros extra in investment over the coming four years.

Such sums showed Germany was holding its own vis-à-vis the U.S. and the $430 billion U.S. Inflation Reduction Act, he said.

World+Biz / Europe

Germany / Germany Economy / Olaf Scholz / Germany Chancellor Olaf Scholz

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Maintaining a cordial relationship between patients and doctors at this tense time of an ongoing pandemic is more important than ever before. Photo: Mumit M
    Covid-19 testing to resume at hospitals amid rising infections
  • Members of law enforcement work to clear the area, as protests against federal immigration sweeps continue, in downtown Los Angeles, California, US June 10, 2025. Photo: REUTERS
    US cities brace for more protests as parts of Los Angeles placed under curfew
  • Chief Adviser Professor Dr Muhammad Yunus (L) and British Prime Minister Sir Keir Starmer (R). Photo: BSS
    UK PM visiting Canada, will meet CA if schedule matches: CA press secy

MOST VIEWED

  • Illustration: Duniya Jahan/ TBS
    Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon
  • A file photo of Bangladesh Bank Governor Dr Ahsan H Mansur. Photo: Collected
    'I have no relation with this': Ahsan Mansur debunks Joy’s allegations over daughter’s Dubai flat
  • Faiz Ahmad Tayeb. Photo: BSS
    Import duty on raw materials for e-bikes, lithium batteries reduced from 80% to 1% in some cases: Faiz Taiyeb
  • Screengrab from video shows a group of local youths forcing tourists to leave a tourist spot in Utmachhra area of Sylhet's Companiganj on Sunday, 8 June 2025, citing allegations of obscene activities and environmental damage
    Locals declare tourist spot in Sylhet 'closed', force visitors to leave
  • Shakil Ahmed. Photo: Collected
    DU student allegedly hangs himself following threats over old derogatory comment about Prophet on Facebook
  • Photo shows the Land Cruiser Prado car belonging to former member of parliament (MP) Anwarul Azim Anar found in Kushtia. Photo: TBS
    Luxury car of ex-AL MP Anar, who was killed in Kolkata, found in Kushtia

Related News

  • Germany to boost military by up to 60,000 troops under new NATO targets
  • NATO to ask Berlin for seven more brigades under new targets: sources
  • German court to rule on Peruvian farmer versus RWE climate case
  • Germany threatens steps against Israel as tone shifts over Gaza
  • Germany shifts tone on Israel over 'incomprehensible' Gaza carnage

Features

Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

17h | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

2d | Features
Photo collage shows political posters in Bagerhat. Photos: Jannatul Naym Pieal

From Sheikh Dynasty to sibling rivalry: Bagerhat signals a turning tide in local politics

3d | Bangladesh
Illustration: TBS

Unbearable weight of the white coat: The mental health crisis in our medical colleges

6d | Panorama

More Videos from TBS

Israel kidnapped me in international waters: Greta Thunberg

Israel kidnapped me in international waters: Greta Thunberg

52m | TBS World
Is the chief adviser's meeting with the British Prime Minister uncertain?

Is the chief adviser's meeting with the British Prime Minister uncertain?

1h | TBS Stories
Aviation giants Airbus, Menzies seek long-time partnership with Bangladesh

Aviation giants Airbus, Menzies seek long-time partnership with Bangladesh

2h | TBS Stories
Greta Thunberg deported from Israel

Greta Thunberg deported from Israel

19h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net