What role does the Ministry of Finance play in the Poker of the banks? Is it oppisting or rather part of one "Deep State"? And who actually deserves the state debt?
What role does the Ministry of Finance play in the Poker of the banks? Is it oppisting or rather part of one "Deep State"? And who actually deserves the state debt? Telepolis asked and received lucky answers.
Part 1: The Bundestag and the monetary system
Federal Financial Minister Wolfgang SchaBle lates in surveys regularly to the most popular politicians of the country. In Marz, he even drove the ridge of the popular head: 65 percent of the respondents were satisfied with his work, Ard reported Germany trend. Schauble appears many apparently as a calming, trustworthy pol generally chaos.
Currently he manages budgetary succasse, Germany can at the same time without any objection, thanks to low interest rates and in the face of coarse investors who are considered safety and the state likes to lend money, even if they have to numbers. All the best?
In one of her monthly reports, the Bundesbank warned: "The currently very low interest rates exchanges over the lasting loads from high public debt and let the situation of public finances appear too favorably."
What is meant by that was clear: Germany currently has debts of about 1.100bn. Euro believed (only the federal government without the countries and municipalities). Even at the current low interest rate level, this costs the state and thus the taxpayers 2017 worth 20 billion euros for interest – fourth-groated items in the household, even before the expenditure for education or for health. This money is missing completely elsewhere. For comparison: For Hartz IV will be about this year. 21 billion euros spent, almost exactly the same sum, which flees parallel to rich creders. From 2012 to 2016, interest payments in Germany totaled more than 130 billion. Euro.
Demand at the Ministry of Finance, whether there is any concrete plan to reduce the state debt, was only answered evasive. The Minister has known at the beginning of the year, the current surplus of 6 billion. EURO to use the debt, such a spokesman. This is "the right way". Incidentally, the relation of debt to the gross domestic product, the so-called "Debt", has always been lower for years. So the debts are not a rough problem, so the message.
Showbles plan to use the reduction in debt reduction failed now on the SPD. But even if he had been performed, the debts had only one of 1.100bn. to 1.094 billion. Euro decreased, ie 0.5 percent. For adopted constant payments in this magnitude and hypothetical eternal economy, Germany’s loans were paid by this method after 200 years. Such debt reduction can hardly be a serious strategy. Schaubles proposal was probably a symbolic signal to the "Financial market", should therefore especially favor the powerful investors by teaching them that excess money in doubt first about them.
Further questioned to planning for a debt reduction, the ministry shared as close to Nebulos, it’s the question, "whether a complete reduction of total debt is economically useful". He is undoubtedly from the perspective of the burger. Quintual interest expenditure in double-digit billions are anything but useful for the community. The fact that further, certainly practicable models for a degradation of the sovereign debt, is obviously unknown to the ministry, or is intentionally not debated.