Monday, December 14, 2020

Bruno Hollnagel, December 8, 2020, Budget – Finance

German Bundestag, Plenarprotokoll 19/197, pp. 24819-24820.

Right honorable Herr President. Right honorable ladies and gentlemen.

The budget reflects a new normality, a normality which is terrifying. Euro crises, state debt crises, budget crises, bank crises, economic crises and a lockdown crisis all steer towards a collapse. The government’s solution: Planned economy, gigantic new indebtedness, expropriation of the taxpayer, liability mutualizations which veil rather than solve the problems, ladies and gentlemen.

Germany has long since over-stepped the point of no return. Germany’s sustainability gap amounts to 13.8 trillion euros. That is about 400 percent of the gross domestic product, that is uncovered obligations in the area of about 38 Federal budgets. That is not re-payable, that is irresponsible, that is the result of a failed policy, ladies and gentlemen.

We are meanwhile in an anarchic state. Treaties will not be observed: Not the Maastricht treaty, not the EU treaty, not the stability and growth pact which, among other things, prescribes a maximum indebtedness of 60 percent of the gross domestic product. And the Italians break the stability and growth pact, live beyond their means, go into debt immoderately, and demand on account of their debt Corona aid, and will still be rewarded with grants of money. Ladies and gentlemen, the EU gives presents to treaty breakers and Germany is liable for that. That is unbearable.

For the reconstruction funds, the EU wants to incur 750 billion euros of debt. That contradicts the ban on indebtedness according to Article 311 of the AEU-Vertrag [Treaty on the Functioning of the European Union]. Moreover: Aid within the EU is only permissible in regards national catastrophes in individual states. Such a circumstance is not the case. Consequently, Next Generation EU also violates the no-bailout clause in Article 122, AEUV. 390 billion euros of the 750 billion euros shall be granted. The Italian foreign minister would use means from the funds to reduce Italian debts. Since Germany is liable for the funds’ debts, the Italians receive a tax reduction on the backs of the German taxpayers.

            Sven-Christian Kindler (Greens): Yet that certainly is not right!

The Merkel government on one hand demands a sustainable budget and new taxes, on the other it makes grants of money and doubles the EU contribution. You turn the EU into a self-service store without cash registers and Germany is the principal supplier. That is intolerable. There must be an end to that!

Recently might one read that state and bank balances will only be able to be kept stable by central bank interventions and that the European banking system sits on bad credits to the sum of 1.4 trillion euros. The ESM does not nearly suffice for coverage. Ladies and gentlemen, if one domino falls, the chain of mutual liability will pull us all down with it. Any budget plan is then, without condition, scrap paper.

The liability union becomes expensive for us if we must share the debts of other states. And given that, Herr Minister Scholz, you wish to impose a wealth tax? Why do you not demand that of the wealthy French and Italians? The median assets of the Italians and the French are about three times greater than those of the Germans. Why actually shall we always be paying?

Stop the introduction of a transfer union by means of the “Corona Emergency Budget”. You have long since mis-played the future of our country. It is time for an alternative, and my idea is: The Alternative für Deutschland.

Thank you very much.

            Stephan Brandner (AfD): A good idea, Bruno!

 

[trans: tem]