«Don’t underestimate the resilience of the German economic system» | EUROtoday

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“Do not underestimate the resilience of the German economy”: the German ambassador to Italy, Hans-Dieter Lucas, is bound of its solidity, regardless of the present difficulties.

The financial ties between Italy and Germany are deep. How do you consider bilateral relations?

They are really wonderful. They are based mostly on stable foundations. We are each founding members of the European Union and with a robust sense of accountability for Europe. The German-Italian Action Plan, signed a yr in the past by the Chancellor Scholz and the Prime Minister Melonshas additional strengthened our ties with strategic tasks such because the South H2 hall for inexperienced hydrogen from Africa. The wonderful high quality of relations was additionally manifested not too long ago within the state go to of President Mattarella to Germany, in addition to within the joint commemoration of the 2 heads of state in Marzabotto, on the event of the eightieth anniversary of that horrible conflict crime dedicated by the Germans. And President Mattarella mentioned that Marzabotto is not one thing that separates us, however one thing that unites us extra. Italy and Germany share a collection of essential factors. In the sphere of frequent and safety coverage, we agree on virtually all strategic points: ranging from the menace posed by Russia and Ukraine’s help within the face ofRussian aggressiontill Middle Eastto the relevance ofAfrica and the character of transatlantic relations. Migration is a matter that we contemplate a typical problem and Germany and Italy have basically accepted the compromise discovered final yr in Brussels within the framework of the European Union Asylum Pact, which goals to reform the asylum administration system and of migration within the EU. Economic relations are very sturdy, highlighted, for instance, by the merger between Lufthansa and Ita Airways and the brand new three way partnership between Leonardo and Rheinmetall. Germany is Italy’s most necessary business and financial accomplice. I’m very optimistic concerning the prospects for relations between Germany and Italy.

Trump’s victory dangers damaging relations between the US and the EU. What ought to we anticipate?

Chancellor Scholz had an incredible telephone name with the president-elect Trump. It was a constructive dialog during which the Chancellor congratulated Trump and mentioned that Germany attaches the utmost significance to transatlantic relations and that we wish to work intently with the Trump administration. The essential opposition social gathering additionally strongly helps this concept, in addition to the trouble to speculate extra in protection. Germany already spends round 2.1% of GDP in the present day. We wish to strengthen the European pillar of Nato and on the identical time strengthen the EU. This can also be necessary to attain a balanced transatlantic relationship, with higher European funding in defence. On commerce, we’ll see what the Trump administration proposes.

In Germany there’s a debate on the debt brake. What are the roots of German warning?

The debate is on the potential modification of the debt brake, however not one of the centre-right or centre-left events questions the brake as such. There is a normal consciousness among the many inhabitants that the soundness of public funds is admittedly necessary. First of all, as a result of if debt accumulates, subsequent generations should repay it. It is due to this fact a query of generational solidarity. Second, public funds are necessary for the steadiness of the monetary system. We noticed it with the euro disaster. And it’s no coincidence that we launched the debt brake into the Constitution in 2009. Even at European stage, all of us agree on the significance of sound public funds. It is among the explanation why now we have the Stability Pact, whose current reform was an important and profitable compromise for Europe.

Stagnant economic system, political disaster. Germany not looks like the stable nation that Europe is used to counting on.

The German political class could be very conscious of the significance and accountability that Germany has for Europe and in Europe. The finish of the Semaphore coalition isn’t the tip of the world. There will probably be elections in February and I’m satisfied that we’ll have a Very secure authorities. It is evident that the German economic system is dealing with a collection of challenges that Italy and different European nations are additionally coping with: excessive vitality costs, the shortage of certified staff, a really tough geopolitical context and the sturdy competitors from the United States and China. But the foundations of the German economic system are very stable. I would not be too pessimistic concerning the medium and long-term prospects: do not underestimate the resilience of the German economic system.