• SPX
  • $5,929.04
  • 2.53 %
  • $146.28
  • DJI
  • $43,729.93
  • 3.57 %
  • $1,508.05
  • N225
  • $39,381.41
  • -0.25 %
  • -$99.26
  • FTSE
  • $8,164.80
  • -0.02 %
  • -$1.88
  • IXIC
  • $18,983.47
  • 2.95 %
  • $544.29

Germany still capable of functioning, economy minister says

By Reuters   |   Nov 7, 2024 at 01:52 AM EST
Germany still capable of functioning, economy minister says

BERLIN (Reuters) - German Economy Minister Robert Habeck said on Thursday that Chancellor Olaf Scholz was right to fire the finance minister, spelling an end to the coalition government, and insisted that Germany was still capable of functioning.

Christian Lindner of the fiscally conservative Free Democrats had been unable to complete the fundamental task of forming a budget and lost the respect of the other cabinet members, Habeck told Deutschlandfunk radio.

"In this respect, the chancellor's decision was a logical one. It was consistent and necessary at this point," Habeck added.

Germany's ruling coalition collapsed on Wednesday when years of tensions in the three-way alliance between Scholz's Social Democrats reached their peak in a row over economic and fiscal policy.

The collapse paves the way for a snap election, triggering political chaos in Europe's largest economy after Donald Trump won the U.S. presidential election.

Asked if Germany was still capable of functioning, Habeck told the broadcaster: "Yes, of course we are," adding however that "we no longer have a majority in parliament."

Habeck added that he had no intention of serving as interim finance minister.

(Reporting by Rachel More, editing by Miranda Murray and Thomas Seythal)

Did you find this insightful?


We are preparing, please wait

×
New Alert

Select an alert type

Choose sentiment spike or mentions spike or both to receive email alerts and app notification for the selected stock.
Note: Please be aware that you will receive an email only once a day, around 8:00 AM (EST), in the event of any spike.
In future if you don't want to receive any email then delete stocks added into alert section.

New Alert

Setup alert

×

Premium Content

This content is only available for premium members. Please become a paid member to access.

Download App

Currently, memberships can only be purchased through the app.

×

Log In


or

download app using google store Continue with Google download app using apple Continue with Apple

Email Verification

An email with a verification code has been sent to your email address.

Welcome to Stocks.News!

Create Your Account

Email Verification

An email with a verification code has been sent to your email address.