The ascending greens will shake up Germany and Europe Business

This is the stuff of nightmares for the German establishment. “The party base will draw the Greens to the far left if they are in coalition only with other left parties,” Schmieding said.

What the Greens cannot do is fund a massive phony fiscal expansion by tapping into the bond markets, as they would like. This would violate the constitutional debt brake. It takes a two-thirds majority in both houses of parliament to change the basic law.

The Greens should raise taxes or cut spending elsewhere to pay for lavish social spending and their plan to increase public investment by 50 billion euros per year (1.5% of additional GDP), on a scale comparable to the Joe Biden’s infrastructure push. This would deprive him of its stimulating effect.

They would also not be able to implement their EU treasury or fiscal capacity plan, nor to turn the European Parliament into Germany’s highest legislative body at the expense of the Bundestag. Such a transfer of power to the EU goes beyond constitutional lines and cannot be imposed by a simple majority.

For Britain, a green Germany would be a cold adversary. The party is supra-nationalist, inclined to make “speculators” of the city scapegoats for the evils of the world (an atavistic reflex), and above all ideologically hostile to the concept of the sovereign nation-state.

Die Grünen want a European federal state, on the grounds that the ecological catastrophe knows no borders and that the only way to save the planet is to avoid a race to the bottom by competing states. They are an extremely millennial pro-EU party, even in their new technocratic guise, like that of Emmanuel Macron. Working gone but without its attenuating and regal Gaullist streak idea of ​​France.

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This notice was published: 2021-04-21 19:00:00