German and G7 leaders agree to a $50 billion loan for Ukraine
G7 leaders were set to agree at an Italy summit Thursday on a new $50-billion loan for Ukraine, using profits from frozen Russian assets.
Ukrainian President Volodymyr Zelensky flew in to join US President Joe Biden and leaders from Germany, Italy, Britain, France, Canada and Japan at a session of the Puglia talks dedicated to the war.
Top of the agenda was a plan for an urgent $50-billion loan to help Kyiv with defence, budgetary support and reconstruction after more than two years of war with Russia.
READ ALSO: What a Russian victory in Ukraine would mean for Germany
The loan would be secured against the future profits from interest on €300 billion ($325 billion) of Russian central bank assets frozen by Western allies.
“Good news from the G7: another $50 billion for Ukraine,” German Finance Minister Christian Lindner wrote on X.
He said the agreement showed Russian President Vladimir Putin our “unity, greatly helps Ukraine and relieves the burden on budgets”.
He added, “Now we are working on the details.”
Since the war began, the EU and its Member States provided nearly €100 bn to support Ukraine.
The paradigm shift is our €50 bn Ukraine Facility.
Thank you, @Bundeskanzler and @ZelenskyyUa, for hosting this meeting.
The EU stands with Ukraine for as long as it takes. pic.twitter.com/MJqDAIYhyY
— Ursula von der Leyen (@vonderleyen) June 11, 2024
Police in Saxony looking for suspected child killer
The homicide squad is still looking for the perpetrator following the discovery of the body of nine-year-old Valeriia in the forest near Döbeln, confirmed senior public prosecutor Ingrid Burghart on Thursday.
Investigators don’t want to share details about the cause of death or the ongoing investigation, but say they have theses on the motive.
According to reporting by “Bild”, the investigators have an ex-boyfriend of the girl’s mother in their sights. He is said to be in the Czech Republic. The Chemnitz public prosecutor’s office did not want to comment on this when asked by the German Press Agency.
The crime against Valeriia has shocked many people in her place of residence, which has a population of around 24,000. Many have laid candles, stuffed animals, pictures, angel figures and flowers near the child’s home to express their grief and bewilderment.
Questions still arise as to a delayed police search. A witness had heard screams on the outskirts of the city on the day of Valeriia’s disappearance, and later reported it to the police. Investigators say, however, that the initial report was not specific enough.
The public prosecutor’s office is also examining possible misconduct on the part of the school, which had not contacted Valeriia’s mother when the child did not arrive in her class.
Germany receives the most asylum applications worldwide after the USA
More people than ever before are fleeing violence, war, conflict and persecution worldwide. The UN refugee agency UNHCR reported on Thursday that in May, there were 120 million refugees worldwide, almost ten percent more than a year ago.
Among people who see no chance of returning home soon, the USA and Germany were the favoured destinations.
The USA recorded by far the most asylum applications, a total of 1.2 million. This was followed by Germany at a considerable distance with around 330,000 applications, ahead of Egypt, Spain and Canada.
READ ALSO: Refugees found clinging to coach in Bavaria shines light on German asylum policies
“The dramatic increase in the number of refugees shows me very clearly: Right now we need more development cooperation, not less,” said Federal Development Minister Svenja Schulze (SPD).
In the dispute over the 2025 federal budget, FDP representatives had called for significant cuts in humanitarian aid and development aid.
Development policy creates prospects for refugees on the ground and for their return to their homeland, explained Development Minister Schulze. “This is also in Germany’s interest.”
German climate activists end lengthy hunger strike in Berlin
A group of German environmental activists on Thursday ended a long-running hunger strike to force the government to do more to tackle the climate crisis.
The protest began in early March under the motto “starving until you tell the truth”, when the first member of the group, Wolfgang Metzeler-Kick, stopped eating.
The 49-year-old went on hunger strike for a total of 92 days and was admitted to hospital in early June — although he reportedly continued the action for several days afterwards.
READ ALSO: German man ends 92 day hunger strike for climate
Germany coach urges team to harness ‘privelege of pressure’
Germany coach Julian Nagelsmann said his side needed to use the pressure of hosting Euro 2024 to their advantage ahead of Friday’s tournament opener against Scotland in Munich.
This summer’s hosts are three-time winners of the European Championship but have endured a poor time since reaching the semi-finals at Euro 2016.
Since that tournament, the Germans were eliminated twice at the group stage of the World Cup, and lost to England in the last 16 at the Euros in 2021.
Admitting to being a “little nervous” ahead of his first game coaching Germany at a major tournament, Nagelsmann said he told his players to embrace the pressure in front of their home fans.
“I think it’s normal that you feel a little bit of pressure before a tournament and before important games like these,” the 36-year-old told reporters on Thursday.
“Ultimately for me it’s the most important theme, when I speak with my players, that pressure is a form of privilege.
“We need to simply enjoy being on the pitch. That’s very important. Our players started playing when they were young. They love it (football).
“If you do it that way, you’re doing it right.”
FDP says more borrowing could be needed in 2024
FDP parliamentary leader Christian Dürr has raised the spectre of a revised budget for 2024, with the potential to borrow more money than previously planned.
Speaking on ZDF’s “Morgenmagazin” on Friday, Dürr likened the finance minister’s role to household budgeting, where income and expenditure are regularly reviewed. He mentioned that adjustments might be necessary, particularly in areas like defence, infrastructure and internal security.
Bild recently reported that the federal government is considering a supplementary budget for this year, with coalition sources indicating that the Ministry of Finance had briefed the coalition’s budget committee on these plans a few days ago.
“We are monitoring tax revenue developments and budget implementation closely and are prepared to act as needed,” a spokesperson for the Ministry of Finance told DPA.
READ ALSO: How deep does the German fear of debt go?
Germany’s economy is currently underperforming, allowing for increased net borrowing under the debt brake’s economic clause, potentially up to €11 billion, Dürr explained. Currently, the planned net borrowing for this year stands at €39 billion and falls within the cap on borrowing mandated by the debt brake.
SPD politician calls for extension of temporary border controls
SPD parliamentary group leader Dirk Weise has spoken out in favour of maintaining additional border controls for several months after the Euro 2024 tournament is over.
“I don’t want to get used to it, because one of the greatest achievements of the European Union is the abolition of the barriers,” Wiese told Tagesspiegel on Friday.
“For reasons of security, however, I consider it necessary to extend the border controls for a certain period beyond the European Championships.”
Due to the Euro 2024, temporary controls will initially be in place at all of Germany’s internal Schengen borders until July 19th – five days after the final match of the tournament.
At the end of May, the Ministry of the Interior announced that stationary controls at the land borders with Poland, the Czech Republic and Switzerland, which have been in place since the beginning of the year, would be extended by six months. The controls were initially put in place to stop undocumented migrants crossing the border.
“These controls have led to a reduction in irregular migration and, incidentally, a large number of wanted people with German passports were also caught,” said Wiese, adding that the security situation in Germany could be classed as “high-risk”.
“In recent weeks and months, the security authorities have repeatedly succeeded in recognising potential attackers at an early stage and taking them out of circulation,” the SPD politician added.
With reporting by dpa and Paul Krantz.
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