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Offbeat FOCUS 1-CSU wants a maximum of EUR 100 billion more debt for Corona

21:56  22 may  2020
21:56  22 may  2020 Source:   pressfrom.com

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* Söder calls for a debt ceiling of 90 percent

* Kurz and Söder against European "Corona Bonds"

* CSU delegates decide on key application for the corona crisis (New: Söder Upper limit, car purchase premiums; short)

Munich, May 22 (Reuters) - According to the CSU, Germany should incur a maximum of a further 100 billion euros in debt for coping with the corona crisis. "Debt must remain the exception. We need an upper limit for German government debt in times of crisis," says the lead motion for the CSU's first Internet party conference, which the delegates passed on Friday with 99 percent. Party leader Markus Söder demanded that German government debt should rise to a maximum of 90 percent of gross domestic product (GDP). Programs over 150 or 200 billion euros cannot be financed. "Otherwise we will lack the air", if there were to be a second wave of the corona pandemic, the Bavarian Prime Minister warned. "We are not overindebted, which means that we are no longer able to act."

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The federal government's supplementary budget already includes 156 billion euros in new debt. However, the coalition plans to adopt an economic stimulus package on June 2 to boost the economy that has slumped in the corona crisis. The CSU demands, among other things, purchase premiums for new, low-emission cars - not just for electric cars. "We need an answer quickly for the automobile," said Söder. "If we spend ten billion on Lufthansa, we can't leave the car hanging," he alluded to the airline's planned entry into the state.

The CSU opposed so-called "corona bonds" in the lead application against common debts for Europe. The Chancellor Angela Merkel (CDU) and French President Emmanuel Macron proposed 500 billion euro package to stimulate the economy is "with a few stomach pains" justifiable, also to prevent a breakup of the EU after the crisis, said Söder. Austria's Chancellor Sebastian Kurz, who was added as a guest speaker, stood behind the position: "What we reject is a debt union through the back door." It is about one-off, temporary emergency aid.

Spain extends state of emergency by around one month

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The CSU demanded that the money should flow into digitization and high-tech projects. For Germany, she proposes to accelerate the expansion of fast 5G mobile phone networks with a five billion euro injection for the federal mobile communications infrastructure company. Regarding the solidarity surcharge, the immediate abolition of which CSU leader Söder had requested, the party remains vague in the lead application: "We want to give the coalition new advice on the schedule and scope of the abolition of the solidarity surcharge."

corporate profits should be taxed at a maximum of 25 percent, investments should be depreciated faster, and losses should be easier to offset against previous profits for tax purposes. In order to reduce companies' energy costs, the CSU wants to reduce the EEG surcharge and introduce a trade electricity price.

Europe needs a "renaissance of industrial policy", especially for the pharmaceutical industry, the CSU demands. The crisis had shown that. "We want to specifically shift production back to Germany and Europe in key areas, reduce one-sided dependencies in supply chains and close value chains in Europe." If necessary, pharmaceutical manufacturers would have to be obliged to produce at least one variant of important products in Europe again. (Reporter: Alexander Hübner, edited by Sabine Ehrhardt. If you have any questions, please contact the editorial team on 069-7565 1232 or 030-2888 5168)

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