Monthly Archives: April 2013

Requirement of economists: Wealthy should pay more for euro bailout

An ECB study foments the dispute over the distribution of wealth in Europe. Leading economists now call SPIEGEL: Rich should be more involved in saving the euro. Doing so could save the average German citizen Greek super rich from higher taxes in the end.

Leading economists are convinced that the euro-crisis countries must make a greater contribution to the renovation of its public finances. Especially wealthy should be asked to pay more, said the economy Peter Bofinger SPIEGEL. The economist advised the governments of southern Europe to a capital levy. "The rich must be within ten years, for example, a portion of its assets leave. "

Bofinger is convinced that a capital levy is significantly better than the participation of savers – as happened recently in the rescue of Cyprus: "Resourceful kingdoms of southern Europe but make their money to the banks in Northern Europe and beyond so that the access."

Background of the claim is the wealth report of the European Central Bank (ECB), which was published last week. Thus, the households in the euro-crisis countries on average have considerably more power than the Germans.

The results of the study confirm the opinion of economic experts Lars field the course of the federal government: "It shows that Germany, with its harsh conditions for euro-bailout money is right." Finally, the over-indebted countries receive billions from the bailout fund only relevant consideration. "If there is no longer the tax laws only on paper, even Greece can dispel doubts on the sustainability of its debt," said Field.

Guntram Wolff of the Brussels economists enter the data not only an answer to the question of who should pay the crisis in Southern Europe account: "It is clear once again how unfair the assets are distributed in Germany." Therefore, the German crisis costs should be borne by the wealthy. "The euro rescue would be completely reduced to absurdity, if preserved the Greek super-rich from higher taxes at the end of the comparatively low average German household."

Export boom: German coal power flooded Europe

The German electricity industry has increased its exports considerably. In the first quarter, the exported quantity of information has doubled manager magazine online. Coal-fired power plants are experiencing a real boom – at the expense of relatively cleaner gas power plants.

Hamburg – The German electricity producers flood neighboring countries with ever growing quantities of cheap electricity. In the first quarter of the year, it resulted in a net of about 16 terawatt-hours, such as from calculations of the Fraunhofer Institute for Solar Energy Systems (ISE) shows the present manager magazine online. They are based on data from the Association of European network operators ENTSO-E. In the previous year the amount had amounted to about eight terawatt-hours, according to ISE.

The amount to March this year running from January is about the production of six large power plants that run continuously. For the full year 2012, the export surplus amounted to almost 23 terawatt hours, marking a time record, which is now already in range.

Main reason for the recent increase in exports is the low market price of electricity in Germany. He is just over 40 euros per megawatt hour and resulted from an oversupply of current through the last rapid expansion of renewable energies. In addition, the price of emission allowances in the basement – benefiting the relatively polluting coal power plants.

Coal-fired electricity production grows by a quarter

And so the export increase is apparently solely on the account of additional quantities of coal power. Coal-fired power plants increased their emissions by about 23 percent, as calculations of manager magazine online were based on the ISE figures. Brown coal rose by about 8 percent, while all other fuels produced less than last year, including wind, solar and hydro power.

Dramatic is the situation in gas-fired power plants. Their production fell despite the cold winter by about 16 percent. Utilities such as E.ON had recently reinforced threatened to take gas from power plants, because their economical operation is not currently possible. The German Association of Energy and Water, the situation “with concern” as a spokesperson told Manager Magazine online announced.

According to the BDEW German power plant operators had surplus electricity exported last year, especially in the Netherlands, which therefore reduced their relatively clean gas power plants .

Due to the new figures, the hope of the Federal Environment Minister Peter Altmaier (CDU) could smash that the growth in German output of carbon dioxide in the past year has been a one-time setback for the German energy transition.

“This is an outlier in a previously positive development,” Altmaier said.They should “not become a trend.” In 2012, electricity production from coal was increased by 3.4 percent, from brown coal had risen by 5.1 percent.