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By Maria Martinez
LUXEMBOURG, Oct 7 (Reuters) - Germany's economic model is not broken but Europe's biggest economy has lost competitiveness over the past decade, German Finance Minister
Christian Lindner said on Monday.
"We can't be satisfied with the economic developments in Germany," he told
journalists ahead of a Eurogroup meeting.
The German economy is expected to contract by 0.2%
in 2024, an economy ministry spokesperson said on Monday,
cutting the forecast from a previous projection of 0.3% growth
this year.
If realised, this would be the second consecutive year of
contraction for Germany's economy, which was the weakest among
its large euro zone peers last year with a 0.3% decline in gross domestic
product.
Lindner said the government was introducing supply-side measures to try to return the economy to growth.
"After these reforms, Germany will have more competitiveness again," Lindner said, adding that the
growth initiative was just a first step for an economic turnaround, "but we have to build on it."
AMBITION NEEDED
Lindner said "ambition" was needed to keep EU public finances in order,
or to put them back in order where necessary.
"I can only encourage everyone to implement structural reforms and to make unpopular decisions," Lindner said.
"What seems to be unpopular at the moment is the willingness to take responsibility for the next generation and for the stability of the European Union as a whole."
Lindner said he could not comment on the French budget plans because he had not had the chance to talk
with his French colleagues yet, but he would do so on Monday evening.
"We should all realise that the credibility of public finances vis-à-vis the capital markets is not to be trifled with," Lindner said.
"We must credibly reduce our deficits and our debt so that we can continue to finance ourselves well and in a stable manner."
(Reporting by Maria Martinez, Editing by Miranda Murray and
Christina Fincher) -
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Des électeurs attendent l'ouverture d'un bureau de vote à Windhoek, le 29 novembre 2024 en Namibie
Namibians returned to vote on Friday in 36 polling stations reopened two days after a chaotic election, set to test the ruling party's
34-year grip on power, was marred by technical problems.
Tensions are mounting in the historically stable and peaceful southern African nation where Wednesday's election was marked by long delays and
labelled a "sham" by the opposition.
Some people waited 12 hours in line to vote in presidential and legislative polls,
billed as the toughest yet for the South West Africa
People's Organisation (SWAPO) party, in power since Namibia's 1990 independence from South africa.
Wednesday's queues were caused by many technical problems, including
issues with tablets used to register voters and shortages of ballot papers.
In some cases, torches used to show up invisible ink had run out of batteries and mobile voting teams had left areas with voters still in the queues, it said.
Facing criticism from both voters and parties, the electoral commission extended the vote for a second time, giving Namibians until Saturday evening to vote.
In the capital Windhoek, at the only polling station picked to reopen, about 60 people showed up on Friday, including Kluivert Muuondjo who arrived at 4:30 am.
The 21-year-old student said he had waited in line until
11:00 pm on Wednesday but left before being able to vote as he had exams the
next day.
Des électeurs attendent l'ouverture d'un bureau de
vote à Windhoek, le 29 novembre 2024 en Namibie
"Everyone will have the chance to vote," he said. But because Namibians can vote at any given polling station, he was worried "everyone will flock to one place again."
The disarray led to angry complaints from opposition parties with some calling for
a halt in the electoral process.
Opposition parties were scheduled to meet on Friday and issue a joint statement, according to Christine Aochamus who represents the Independent Patriots
for Change (IPC) party.
Youth unemployment, enduring inequalities and the emergence
of a generation born after independence are challenging support
towards SWAPO which has ruled since 1990.
Its candidate, vice-president Netumbo Nandi-Ndaitwah,
who could become the first woman to lead the country if elected, could face an unprecedented second round in the
mineral rich country.
"To open only one place in Khomas (the region of which the capital is part of) is absurd," said voter Ensley Engermund,
who also said he couldn't vote on Wednesday because of long queues despite trying
four different polling stations.
"Only 1.5 millions voters are registered and we get this chaos?" asked the 49-year-old security agent.
"It was to get people frustrated." -
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