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Stop debt brake requested, Germany also has accounting problems

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Stop debt brake requested, Germany also has accounting problems

Scholz confirms: “We will ask for a suspension of the debt brake”

The German Chancellor Olaf Scholz he confirmed in parliament in Berlin that his government will ask for the same Bundestag a new suspension of the constitutional rule known as “brake on debt” following a German High Court ruling that rejected the use of a off-balance sheet fund.

Scholz: “The Constitutional Court creates a ‘new reality’. It will also apply to future governments”

The German Chancellor Olaf Scholz stated in parliament that the recent ruling of German Constitutional Court about the use of a off-balance sheet fund creates a “new reality” for the current and all “future governments”.

The former Greek minister to Bild: “Sell your islands”

The former Greek minister Panagiotis Lafazanis, in office at the height of the debt crisis in his country, offers advice to the executive in Berlin – where today in the Bundestag the government faces the debate on the crisis – and explains how to generate revenue. In 2010, with the country in financial difficulty, Greece “did not lack our good advice”, recalls Bild: “Sell your islands, bankrupt Greeks” was the tabloid’s headline, and also “very seriously”, it comments today the newspaper, reporting the headline of March 4 of that year.

Not Panagiotis Lafazanis, 71 years old, Minister of Energy and Environment in 2015 under Alexis Tsipras and Finance Minister Yanis Varoufakis, relaunches, heard by Bild. “There are two solutions, according to the former minister. The government should impose emergency taxes on both citizens and businesses”, which would trigger a crisis but bring in significant revenues. Alternatively, it could consider “selling public assets such as islands, in order to raise large sums of money quickly.” “There Germania should therefore sell islands as Jam o Heligoland?”, asks the tabloid.

Lafzanis also brings up the Troikathe trio composed of International Monetary Fundfrom the World Bank e from the European Union. “If the Germans cannot get the situation under control, then they will have to put themselves under the supervision of the troika,” says the former minister.

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