#budget crisis

[ follow ]
Germany
www.thelocal.de
5 months ago
Germany politics

What happens if Germany can't decide on a budget for 2024?

The German government is facing a budget crisis due to legal challenges against their borrowing plans.
Disagreements over how to fill a 17 billion euro hole in the budget could result in a missed deadline and no official budget for next year. [ more ]
www.dw.com
5 months ago
Germany politics

Scholz says top court's budget ruling means 'new reality' DW 11/28/2023

Germany's coalition government is facing a budget crisis after a ruling by the Constitutional Court on borrowing.
The court ruled that unused pandemic funds cannot be repurposed for climate and green industry projects, causing a gap in government finances.
Chancellor Olaf Scholz admits that his government would have made different decisions if they had known about the ruling earlier. [ more ]
POLITICO
5 months ago
Germany politics

Germany must 'invest heavily' in green transition despite budget crisis, Scholz says

German Chancellor, Olaf Scholz, plans to invest heavily in the modernization and green transition of Germany's economy.
The government's ability to spend has been curbed due to a budget crisis, but specific details on how they will pay for the investments have not been provided. [ more ]
www.nytimes.com
5 months ago
Germany politics

Germany Announces Special Budget to Avert Crisis

Germany has announced a plan to address its budget crisis without requiring fresh debt.
The plan involves adopting a special budget to cover the cost of energy subsidies.
The government's spending plans were compromised by a court ruling that violated the constitution. [ more ]
www.nytimes.com
5 months ago
Germany politics

Germany Announces Special Budget to Avert Crisis

Germany proposes a plan to address its budget crisis without fresh debt.
The plan involves adopting a special budget to cover the cost of energy subsidies.
Details about the plan are scarce. [ more ]
moreGermany
www.nytimes.com
5 months ago
Germany politics

Germany Freezes Government Spending as Budget Crisis Deepens

The German government has halted all new spending following a court ruling that deemed its actions improper.
The ruling has created a budget crisis and thrown the country's spending plans into disarray.
The halt in new spending applies to all ministries and will be in effect through Dec. 31. [ more ]
Los Angeles Times
4 months ago
Los Angeles

Salary deal struck by Bass would give L.A. city workers seven raises by July 2028

Los Angeles city workers could receive a package of raises exceeding 24% over five years.
The pay proposal includes cost-of-living increases, increased sick leave cash out, and a minimum pay raise to $25 per hour by 2026. [ more ]
POLITICO
5 months ago
Germany politics

Olaf Scholz on budget crisis: No cuts to German welfare state

German Chancellor Olaf Scholz rejects calls for cuts to social benefits to address the budget crisis.
Scholz's stance poses a challenge to coalition partners from the Free Democratic Party who advocate for reducing social benefits. [ more ]
www.dw.com
5 months ago
Germany politics

Scholz addresses Bundestag over German budget crisis DW 11/28/2023

German Chancellor Olaf Scholz is addressing lawmakers about his coalition government's budget crisis.
The German government's three-way ruling coalition plans to temporarily extend the lifting of restrictions on borrowing as part of a supplementary budget.
The Karlsruhe-based Constitutional Court's ruling vetoed government plans to use pandemic funds for climate and green industry projects. [ more ]
POLITICO
5 months ago
Europe politics

The most powerful people in Europe (for better or worse)

Europe's most powerful people are unveiled in the POLITICO 28 ranking.
Commission President Ursula von der Leyen plans to run for the top job again. [ more ]
New York Post
5 months ago
NYC politics

Here's how you can save money without cutting cops, Mayor Adams

Mayor Eric Adams has frozen NYPD academy recruitment amid the city's budget crisis.
Adams canceled police-academy classes to save money, jeopardizing his promise to improve public safety.
Alternative cost-saving measures include reducing reimbursement for retiree Medicare premiums and requiring employees to contribute to their health-care premiums. [ more ]
[ Load more ]