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Germany faces a grim political landscape as the economy's decline looms over the upcoming federal election, with all three parties of the former "traffic light" coalition set to face repercussions. The Social Democrats, in particular, struggle with internal divisions, failing to rally behind their chancellor candidate, Boris Pistorius.
Private companies are increasingly vulnerable to geopolitical threats, as evidenced by recent incidents involving the sabotage of undersea cables in the Baltic Sea, allegedly linked to Chinese vessels. With 72% of multinationals reporting political-risk losses, businesses must enhance their threat monitoring to navigate this perilous landscape. The rise of such targeted attacks underscores the need for companies, especially those in sensitive sectors, to recognize their new role as potential targets in a complex geopolitical environment.
The German government plans to unveil a new defence industry strategy by year-end, aimed at reducing bureaucracy and speeding up arms production. This announcement comes despite the recent collapse of the coalition, as stated by Defence Minister Boris Pistorius.
Chancellor Olaf Scholz urged parliament to pass measures like raising child benefits and lifting tax thresholds ahead of a February snap election, emphasizing that Germans shouldn't have to choose between security and prosperity. With the economy contracting and rising political tensions, Scholz faces a challenging path as conservative opposition leader Friedrich Merz gains ground. Merz criticized Scholz's focus on renewable energy and called for a shift in migration and economic policies, while Scholz stressed the need for cooperation to avoid polarization.
Boris Pistorius
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