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Energy-intensive Industry: Merz warns traffic light coalition ...
2024-09-04 09:00:08
Economy
Energie
Politics

Energy-intensive Industry: Merz warns traffic light coalition endangers industrial companies' existence

Image courtesy of : AFP (ODD ANDERSEN)

Union faction leader Merz has cautioned that the economic policies of the traffic light coalition pose a threat to the survival of many industrial companies. The high electricity prices are undermining the competitiveness of steelworks such as Georgsmarienhütte and car manufacturers like Volkswagen.

Merz blames the federal government for Germany's recession and criticizes the lack of competitiveness at German locations. Furthermore, the European trade union warns of the migration of green jobs outside of Europe, posing a potential crisis in industries such as automotive and basic metals.

The union also expresses concern over Europe's steel production and calls for new measures to address overcapacity and strategic importance.

Related news on that topic:

'More than alarming': Key Messages in Recent Headlines

Recent headlines highlight the concerning state of democracy, with right-wing extremist parties gaining electoral success in Thuringia and Saxony. There is a growing demand to limit immigration, which has put the traffic light coalition government under criticism. The success of Sahra Wagenknecht's alliance in Saxony and Thuringia has also sparked reactions. A migration meeting held in Berlin aims to find solutions, with participants including the traffic light coalition and the Union. The Hessian Minister of the Interior, Roman Poseck, is participating in talks with the Federal Minister of the Interior, Nancy Faeser. Friedrich Merz warns that the economic policies of the traffic light coalition are endangering industrial companies. The migration summit is discussing stricter refugee policies in response to the Solingen attack and the AfD's electoral success. Investigations into election fraud in Saxony are expanding, with suspicions of ballot manipulation. The meeting between the Union and the government on asylum policy is considered constructive. The Migrationsgipfel of the traffic light coalition, Union, and federal states is criticized for being a mere PR event. In the context of the state elections in Saxony and Thuringia, political organizations in the district of Leipzig express concerns. The migration meeting aims to discuss measures in security and migration, including tougher return policies and asylum procedures outside of Europe. The CSU warns against cooperation with Sahra Wagenknecht, while the AfD politician Jens Maier may return to the Bundestag.

VW's Cost-Cutting Plan Sparks Outcry in Germany

Volkswagen's consideration of plant closures and job cuts in Germany has caused criticism from politicians, labor unions, and the VW works council. The company aims to save €10 billion by 2026, but an additional €4 billion is needed. VW's management cites the challenging European auto market and Germany's lack of competitiveness. The potential closures would impact 120,000 German jobs, including the Emden plant. Experts view this as the start of a broader transformation in the German auto industry. The VW works council and labor unions have vowed to resist the plan. The flawed ownership structure, with Lower Saxony holding a 20% stake, has hindered VW's progress. The warning has sparked concern among employees and the local communities, as the closures would have significant economic consequences.

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Energy-intensive Industry: Merz: Traffic light coalition endangers existence of industrial companies

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Merz, the Union faction leader, warns that the economic policy of the traffic light coalition endangers the existence of many industrial companies. The Georgsmarienhütte steelworks and Volkswagen are threatened as high electricity prices undermine their competitiveness. An electric furnace in the steelworks that melts scrap consumes as much electricity as the entire city of Osnabrück. Germany is in a recession, for which Merz blames the federal government. Merz criticizes that the locations in..
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