Finance
Germany’s FDP to host its own economic summit on same day as Scholz
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BERLIN (Reuters) – German Finance Minister Christian Lindner’s Free Democrats (FDP) are organising their own economic summit next Tuesday, the same day Chancellor Olaf
BERLIN (Reuters) – German Finance Minister Christian Lindner’s Free Democrats (FDP) are organising their own economic summit next Tuesday, the same day Chancellor Olaf Scholz has invited business groups to the chancellery to discuss how to fight the weak economic outlook.
The summit marks the latest attempt by a partner in the loveless coalition government to make its voice heard on pressing economic issues as the FDP, Scholz’s Social Democrats and the Greens increasingly turn their focus to 2025 elections.
According to those in FDP parliamentary circles, Lindner will attend the event, which is focused on small- and medium-sized businesses and is not meant to be a rival to Scholz’s industrial summit.
Earlier this week Economy Minister Robert Habeck, who is widely expected to be named the Greens’ chancellor candidate for September 2025 elections, released his own 14-page position paper outlining his plan for how to save Europe’s biggest economy.
In a sign of growing discord within the coalition, Lindner told broadcaster ZDF on Thursday night he had not been told in advance about Scholz’s summit or Habeck’s proposals.
“That is a problem in itself. I want to make that very clear to you. It creates uncertainty,” Lindner said, adding that he does not want to let the coalition government collapse.
For 2024 as a whole, the government expects economic output to contract by 0.2%, which would mark a second year of decline and cement Germany’s place as a laggard among its large euro zone peers.
Invited to the FDP event – but not Scholz’s – are the BDA employers’ association, the DIHK chamber of commerce, the ZDH skilled trades group and the association of family businesses.
(Reporting by Alexander Ratz and Holger Hansen; Writing by Miranda Murray; Editing by Hugh Lawson)
Economic growth refers to an increase in the production of goods and services in an economy over a period of time, typically measured by the rise in GDP.
Business investment involves the purchase of goods and services by businesses to enhance their production capacity, which can include spending on equipment, buildings, and technology.
The financial community encompasses all individuals and institutions involved in the financial markets, including banks, investors, regulators, and financial service providers.
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