Tuesday, June 27, 2017

German News, Tuesday Morning

Diesel review coming:  Focus wrote up a piece this morning and says that the Germans are going to stop this city-by-city effort to ban diesel cars and to mount a 12-million diesel car 'upgrade' (retrofit, software, etc).  Who would pay for this effort?  Left out of the political talk and the article.  Diesel owners won't be pleased to pay for much of anything.  The talked about ban in Bavaria really didn't sell well.  A good quote out of the article was from Bavaria's Seehofer, who said: "Nice that you bought a diesel but all that advice was wrong"....which he is correct....everyone was told for decades that for long distance travel, diesel cars were the better choice.  I don't expect this topic to end in 2017....or 2018.

Ten year old kid gets paid 2-million dollars:  Pretty weird Focus sports report.  Investigation going on about FIFA (world soccer 'boss').  In 2010, some kind of 'pay-off' was mounted for people voting on the next country to get the soccer championship....and to make the judges with votes happy.....their 10-year old kid was paid off.  Simply demonstrates the amount of corruption going on within the sport.

Lawsuit over refugee container 'villages': To meet the 2015 needs of housing for immigration centers and refugee compounds....states and cities in Germany turned toward innovation.  In this case, they hired a container company to manufacture and set-up several villages.  Millions were set into motion and obligated for these.  The states and cities had no idea what to expect, and simply put a round number on the wall.  Well, a year goes by and it's obvious in 2016 that they can cut back on the effort because of the Turk effort on human smuggling.  The contracts for the contain-villages?  As far as the company are concerned....money is still obligated.  Hessen (the one who signed the deal) says no.  Court episode moving forward.  Judge will have to determine wording on the sales document and what the obligation was about.  One can blame the German federal government for failing to control the whole business and plan ahead.

Italian banks saved:  Basically, there's a EU-rule that says that individual countries can't save banks deemed 'failures'.  The bank should fail and the credit-holder (the stock-holders) would be the losers of a loss.  However, this week.....the EU waved its rule (Brits would be shocked over that)....saying that the government of Italy could come up with 17-billion Euro and save two major banks.  About a month ago, as the failures were predicted....the Italians kinda hinted that they were going to save the banks....even if the EU-rule stood in the way.  Reason for the failures?  N-TV article suggests that a large percentage of losses added up and were simply failed loans that the banks couldn't get their money back.

Sheldon Cooper of German politics:  Wonderful piece by N-TV on Chancellor Merkel as a political figure.  Most Germans do prefer her over all over choices as Chancellor, which is making this election in 2017 rather routine.

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