Talking point
German Climate Action Plan – facing up to reality
The Climate Action Plan 2050 is intended to show how Germany can meet its climate change targets; it is currently out for consultation with Federal German government departments. There was intense public criticism when individual passages of an earlier draft of the plan were diluted at the instigation of the German Chancellery. In this political discussion, long-term political ideals are confronted by cautious (more realistic?) recent assessments of technological progress, the economies of scale achievable by climate-friendly technologies, and adoption by consumers. The Climate Action Plan remains vague in many important aspects, such as the technologies to be used to meet climate change targets, the approximate absolute costs that can be expected, the restrictions on consumer sovereignty and commercial freedom of choice that politicians are considering and the future infringement of ownership rights and vested interests. [more]
Germany
Start-ups and their financing in Europe: Out of the woods with Capital Markets Union
Ensuring sufficient funding for European start-ups forms an integral part of the emerging European Capital Markets Union (CMU). Cost-efficient solutions are necessary to reverse the 40% decline in small IPOs in recent years. To strengthen bank lending to start-ups, reviving the securitisation market and potentially establishing an SME-covered bond market is crucial. Venture capital investments are also subdued – most recently, they were only one tenth of the level in the US. To increase them, institutional investors should be granted more flexibility in their portfolio allocations. Finally, the EU hosts more than 500 crowd funding platforms. A common legal and regulatory approach could stir consolidation and thereby reduce search costs for investors and borrowers alike. [more]
Germany
Focus Germany: Low returns, political discontent – Germans explore riskier options
Against the backdrop of strong Q2 growth and the revision of historic data, we increase our GDP forecast for 2016 to 1.9% (from 1.7%). For 2017 we lower our growth forecast to 1.0% (from 1.3%). Muted wage growth will likely weigh on consumption growth and subdued exports as well as high global uncertainty might negatively impact equipment investments. Further topics in this issue: Fiscal balance, Current account surplus, Retail investors, German industry and View from Berlin. [more]
 
Germany
02.09.2016
German GDP; Fiscal balance; Current account surplus; Retail investors; German industry; View from Berlin
27.07.2016
German industry, mortgage lending, German housing and office market, view from Berlin
 
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