So we need the ECB to start QE in a big way to buy back government bonds. However the Saudis do not own too many.
We also have to go electric on transportation and that much much faster. Only a third of the EUs oil comes from the US and Norway. The rest comes from mainly dictatorships. Going green means supporting democracy. Staying on fossil fuels means supporting dictatorships.
Yep, even if you didn't care about the environmental aspect (which you should), not having to rely on dictatorships all over the place for your energy needs should be enough reason to transition away from fossil fuels.
Glad my money isn't wrapped up in EUR. QE = inflation.
I'm all for going green, it's worth mentioning that having trade with dictatorships is a two-way street, we can also use that trade as leverage to hold them slightly accountable.
In this case it gives the Saudis central bank money, which then leads to more money being removed over the coming years. Since the Saudis want to dump it, they have to sell it below market value. Due to that at intresst this means the ECB is moving money out of the monetary system. Hence this is deflationary. We actually saw that in the real world as well. QE meant low intresst rates. The intresst rates shot up as soon as QE was stopped.
There are a lot of battery factories being built in the EU right now. Even if they come from China, it is a one time purchase and not a total dependence.
This might change in the near future some time ago(not to sure how long exactly) I read an Article about a massive ore field of the resources needed for electrical components being discovered in Denmark Sweden.
Iirc: For certain materials like Lithium as well as Rare Earths, China basically has a monopoly on processing currently. E.g. with Lithium, Australia and Chile are major sources of the raw materials but virtually all of it is processed in China. Even if the raw materials come from the EU, there may be a major piece of the supply chain missing.
Okay, that's fair. I'm not entirely sure but I know that Intel is building a processing plant in Germany. I don't know if they use raw materials, or they also rely on other manufacturers to produce stuff for them.
Chip plants are another matter yet again. They usually work with silicon wafers into which they a chip surface.
I don't know where Intel get their materials from either. The silicon processing industry is largely Chinese again—I think Western and Japanese countries do have the appropriate factories and technology too though.
I just read, that TSMC also plans on creating a processing plant in Germany(near Dresden) so in the near future we might see chips made entirely in Europe.
Considering the German government will do basically anything to get away from even the slightest hint of antisemitism, I can see exactly why they're doing this.
But it's comical for Germany to be bending over backwards to avoid repeating it's genocidal past whilst turning a complete blind eye to an actual ongoing genocide.
...and at the same time supporting racist and anti-migrant narratives to "fight" the fascist AfD. Which, obviously, just strengthens that narrative and hence the AfD.
What kinda fascist, authoritarian bullshit is this? I'm seriously considering giving up my German citizenship (I also hold citizenship in another EU country that recognizes Palestine) because of this. Although I would regularly have to go to the consulate for administrative tasks like renewing my ID, it would be worth it.
Edit: I am a firm supporter of a two-state solution, but one of the two states is not interested in that whatsoever. It is the exact state that is ruled by an antidemocratic, fascist, ethno-supremacist government, which is constantly murdering innocent civilians.
Israel has a right to the 1947 territory set by the UN. But not a single square centimeter more than that.
I specifically responded to your last sentence. If you are OK with for example Israel in the UN recognised borders of 1947, then you don't deny the right of the state of Israel to exist, which is all that is being asked for.
The current Israeli state defines itself as holding all of the territory. I do not recognize that state. The current form of the Israeli state is not suitable for a peaceful solution to the problems in the region. I don't think that the idea of an Israeli state should be completely abolished, but it must not try to occupy more territory than was planned by the UN in 1947. Until then, I can't take these terrorists seriously.
I actually read the new law, and it doesn't seem that bad. I haven't found a single question that directly requires an applicant to recognize the state of Israel, but there are some questions that involve Israel and kinda require that someone at least acknowledges the existence of Israel, in order to answer them.
If only they did the same with Palestine... That would be even better! Of course, many countries (Germany included) are yet to recognize that country because of reasons (fear included, specially Germany!)
Anti-Semitism was generally not regarded as a big problem in the Labour Party before Jeremy Corbyn's election as leader in September 2015.
Mr Corbyn and his allies on the left had spent decades campaigning for Palestinian statehood, in contrast with the more nuanced position taken by many of his predecessors.
Under his leadership, there was an influx of new members, many of whom were vocal critics of Israel and who believed the UK, along with the US, should be tougher towards Israel, especially regarding its policies towards the Palestinians and its building of settlements in the occupied territories.
Sir Keir sacked his shadow education secretary Rebecca Long-Bailey in June 2020, saying she had shared an article containing an anti-Semitic conspiracy theory.
Mrs Long-Bailey had retweeted an interview with actor and Labour supporter Maxine Peake, later saying she had not meant to endorse all aspects of the article.
In the article, Ms Peake discussed the police killing of George Floyd in Minneapolis, saying: "The tactics used by the police in America, kneeling on George Floyd's neck, that was learnt from seminars with Israeli secret services."
You can see where this is going. Also the claim from Ms Peake is factually correct.
Corbyn was absolutely shit smeared by the press; if you get people to look at Corbyn's Labour policies in isolation, I reckon you'd be hard pressed to find someone that disliked them.
I wonder why privately held media would do this...
Well first this doesn't really have anything to do with the article.
But to answer your question:
Be in a situation where your central bank (they can't get bankrupt as they literally print money) doesn't give interest (negative interest even better)
Be big, financially competent and trustworthy enough that no one doubts that you can pay back any loan.
Now people that have too much money and need a convenient place to store that money without too much costs buy your debt for more than what it's worth.
Sorry I somehow forgot the first part of your question.
If I understand correctly they threaten to sell off the debt they hold which will increase the supply of that debt, while at the same time decrease the amount of potential buyers.
To still be able to sell their debt the EU countries now have to (as any country needs a constant influx of money) make the new debt more attractive by offering better interest etc
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