
Crypto Investment Entry and Exit Strategies of Institutional Investors
Section: Business
The Social Democratic Party (SPD) held its federal party convention in Berlin, where it made a significant commitment to green steel and the ecological transformation of the economy. The resolution passed unanimously on Saturday highlights the importance of this technological revolution for ensuring the future viability of Germany's industrial sector.
In the resolution, the SPD underscored its dedication to preserving the steel industry and associated jobs in Germany. This commitment comes in light of recent decisions by major international steel companies, notably ArcelorMittal, which have paused their efforts to transition towards low-CO2 steel production despite substantial government subsidies.
This pause affects several sites in Germany, particularly in Bremen and Eisenhüttenstadt, and has drawn considerable criticism at the party convention. The resolution argues that without investment in green steel, the industry risks losing its competitiveness in Europe due to rising CO2 prices within the next few years. The SPD is urging the federal government to convene a steel summit with all companies and steel production sites facing this transformation as soon as possible.
Delegates at the party convention also reaffirmed their support for electric mobility and the development of the hydrogen economy, which is closely tied to the steel sector's transition. They emphasized the necessity of continuing to expand the electricity grid, warning that without such transformations, Germany could face deindustrialization.
In another notable moment at the convention, outgoing co-chair Saskia Esken reflected on her six years in leadership. She expressed gratitude for her time in office, emphasizing the SPD's ability to reinvent itself throughout its 160-year history. Esken noted the importance of unity within the party, especially following its disappointing performance in the recent federal elections.
Esken, who took over the party leadership in 2019 alongside Norbert Walter-Borjans, acknowledged the challenges faced during her tenure but highlighted the party's successful navigation through political turbulence, ultimately leading to their electoral victory in 2021.
In her farewell address, she called on delegates to uphold Chancellor Olaf Scholz's vision of a 'respectful society,' reinforcing that the core mission of the SPD is to ensure that all individuals can live off their labor. She acknowledged the differences in perspectives within the party but also noted that the SPD's strength lies in embracing this diversity.
At the convention, SPD faction leader Matthias Miersch addressed the need for painful compromises in the coalition with the Union, particularly regarding the suspension of family reunification for refugees with limited protection status. He emphasized that the party must implement the coalition agreement, which was approved by a significant majority.
Moreover, the SPD completed its leadership elections, with Bärbel Bas securing 95% of the vote, while Lars Klingbeil was re-elected with a considerably lower approval rating of 64.9%, marking one of the lowest results for a sitting party chair without opposition.
This outcome has led to discussions about the party's future direction and the need for more effective communication strategies to regain the public's trust following their poor electoral performance earlier this year. The party resolved to develop a new fundamental program to be finalized by 2027.
Overall, the SPD is focusing on reinvigorating its platform and addressing the pressing challenges facing Germany's industrial landscape while ensuring that it remains a critical player in the country's political arena.
Section: Business
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Section: Arts
Section: Business
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Section: Health
Section: Arts
Section: News
Section: News
Health Insurance in Germany is compulsory and sometimes complicated, not to mention expensive. As an expat, you are required to navigate this landscape within weeks of arriving, so check our FAQ on PKV. For our guide on resources and access to agents who can give you a competitive quote, try our PKV Cost comparison tool.
Germany is famous for its medical expertise and extensive number of hospitals and clinics. See this comprehensive directory of hospitals and clinics across the country, complete with links to their websites, addresses, contact info, and specializations/services.
Join us for the 10th Summer Concert at the Heilig Geist Church, featuring the captivating sounds of two trumpets accompanied by a majestic organ. This concert will showcase works by renowned composers including J.S. Bach, A. Torelli, P. Franceschini, H. Purcell, and others.
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