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Germany's huge trade surpluses are a burden on its EU partners

Germany's huge trade surpluses are a burden on its EU partners

Finance
While few European states can pretend to share Germany's distinction of being a "country of poets and thinkers," none can rival German abilities to extract so much wealth from the rest of the European Union. Last year, Germany posted a 159.3 billion euro surplus on its goods trade with other countries in the EU — one of the world's largest free-trade areas and a region with privileged access to German goods and services. That's the way it's been since 1958, when Europe's common market opened up. Germany's enormous EU bounty consistently accounts...
Clock starts for Germany's next wind farm

Clock starts for Germany's next wind farm

Business
July 5 (UPI) -- German energy company E.ON said Thursday the start of turbine installation at the Arkona wind farm in the Baltic Sea sets the clock ticking for a 2019 launch. The company said it started installing the first of the 60 turbines planned for the 385 megawatt facility in the German waters of the Baltic Sea. Once completed, Arkona will have enough power to meet the annual power demand of around 400,000 average households. "We are confident that we will soon be producing clean and sustainable electricity with the first turbines," Holger Matthiesen, the facility's project director, said in a statement. The transformer station for the Arkona wind farm was installed on its foundation in April. It represented one of the largest lift projects of its kind in the industry at more than...
Germany's E.ON wants even bigger wind footprint

Germany's E.ON wants even bigger wind footprint

Business
May 7 (UPI) -- German utility E.ON said it will build up its wind energy portfolio by taking over the domestic activities of wind-power company Vortex Energy.E.ON said it's targeting a takeover of the German activities of Vortex. E.ON takes 30 employees from the company, though non-German activities of Vortex are not part of the transaction.Germany has one of the greener economies in Europe and E.ON said it was retooling in the domestic landscape as the country emerges as a regional leader in renewable energy development. Vortex has 300 megawatts of wind power development in its immediate portfolio and much more in early-stage development.Both companies said the agreement is a win-win."Vortex Energy sees the acquisition by E.ON Climate & Renewables as the ideal opportunity to successfully ...
Germany's SPD votes in favor of coalition talks with Merkel

Germany's SPD votes in favor of coalition talks with Merkel

World
Jan. 21 (UPI) -- Germany's Social Democrat Party voted in favor of entering the second and final stage of coalition talks with Chancellor Angela Merkel's Christian Democratic Union.The SPD held a special congress in Bonn Sunday as 56 percent of the party's delegates voted in favor of moving forward with negotiations to form a "grand coalition" led by Merkel.A count showed voters were narrowly divided on the issue, with 362 in favor, 279 against and one abstention after a show of hands was failed to produce a visible majority.Following the vote Merkel announced "the path is free for coalition talks" while calling for "a responsible climate, despite all of the divisive issues.""There is a lot of work ahead of us," she said.Many voters were unhappy with the decision to continue coalition talk...
Germany's Merkel suffers blow as FDP pulls out of coalition talks

Germany's Merkel suffers blow as FDP pulls out of coalition talks

World
Media playback is unsupported on your deviceTalks on forming a coalition government in Germany have collapsed, leaving Angela Merkel facing her biggest challenge in 12 years as chancellor.The free-market liberal FDP pulled out after four weeks of talks with Mrs Merkel's CDU/CSU bloc and the Greens.FDP leader Christian Lindner said there was "no basis of trust" between them.What happens next is unclear, but Mrs Merkel is due to meet President Frank-Walter Steinmeier, who has the power to call snap elections.Her bloc won September's poll, but many voters deserted the mainstream parties.Germany coalition: Merkel's 'political party poker'Why German election was a turning pointMrs Merkel said she regretted the collapse of the talks, adding she would meet the German president later on Monday to ...