How the Germany floods mark the end of the Merkel era


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July 17, 2021

The floods in Germany are a product of wild gyrations in the Atlantic Gulfstream's weather patterns. The deluge of rain dumped on the country and its neighbours is, thus, a dramatic demonstration of how nature is changing under the pressures of climate change.

The loss of life in Germany is shocking and desperately sad. People took refuge in cellars but perished in moments. The torrents have ripped apart quiet backwater towns with no history of disruption.

The political scene is only just digesting the impact of the dramatic events. Politicians campaigning for the federal election in September are struggling to respond to tragedies such as that in the town of Sinzig where 12 people with intellectual disabilities died in their dormitory as floods swept the building “in a minute”.

Floods have a way of defining the next political era across all political systems.

When China was hit by massive flooding on the Yangtze River in 1998, the official response by the government and the army reestablished a broken link with the people. Heroics appeared to justify the economic reforms launched 20 years earlier by showing that the state was becoming more competent and better resourced. From that point, an era of Jiang Zemin, the then president, could be seen to emerge and hold sway.

Germany is on the cusp.

Angela Merkel is stepping down. And when the September election comes, Armin Laschet, the chancellor candidate of Mrs Merkel’s Christian Democratic Union, will hope to succeed her. The stakes for him thrown open by the disaster could not be higher. As the Minister-President of the worst-hit state of North Rhine-Westphalia, he needs to demonstrate that he can rally and lead an effective response.

Mr Laschet appeared on German television from the scene of the emergency response and was challenged on how the issue of climate change can be addressed to ensure disasters such as this do not occur. During the campaign he faces a strong challenge from the Green Party. The unusual arc of the weather systems and the intensity of the rain are being laid at the door of the warming planet.

As the centrist and establishment candidate, Mr Laschet must sense the political danger. The floods threatened towns with ancient houses that were swept away in the rushing waters. Owners may not have been able to get insurance for the risks. The costs of the climate transition could be something they are more concerned with than global warming.

Germany has an economy dominated by heavy industry. It is investing heavily in a pipeline to bring natural gas from the east – Russia – to keep its energy supplies strong.

Mr Laschet is probably the senior politician most strongly in favour of that project. He is a great personal friend of the project’s chairman, former chancellor Gerhard Schroeder. "Excuse me, just because of a day like this, you do not change the policy,” Mr Laschet snapped on Thursday. “It does not serve anyone if the steelworks move to other places,” he told the TV hosts. “Then our carbon footprint would be good, but the CO2 would just be emitted elsewhere."

“Both you and I will still be able to fly, even if flying becomes more expensive. So you have to make it socially acceptable.”

US President Joe Biden and German Chancellor Angela Merkel arrive for a news conference in the East Room of the White House in Washington on Thursday. AP Photo
US President Joe Biden and German Chancellor Angela Merkel arrive for a news conference in the East Room of the White House in Washington on Thursday. AP Photo
Washington is already concerned about a wider political vacuum when Mrs Merkel steps down

A fellow guest railed at the remarks as a prioritisation of the prosperous German economic model over ecological concerns. “Nobody can buy their own outside temperature, not even a privately insured person, not even a millionaire,” Eckart von Hirschhausen of the forum Scientists for the Future warned.

As all this was unfolding, Mrs Merkel was being hailed as an exemplary friend of the US at the White House. President Joe Biden gave strong words of solidarity to the victims of the flood. And as she spoke in response from the other side of that Atlantic Gulfstream weather front, it was hard not to feel that the era was truly over.

The balance sheet for the US from the Merkel chancellorship is fairly mixed.

Under her leadership, for example, Germany has not been a climate leader. Mrs Merkel's decision to shut down the nuclear industry after the 2011 Fukushima Daiichi nuclear disaster in Japan boxed Germany into its choice to go with Russian gas supplies. That changed the course of Germany's post-Second World War Atlanticist foreign policy. Alongside the structural integration of the Chinese and German economies, it has resulted in real gaps between Washington and Berlin.

According to the political expert Markus Kiam, Washington is already concerned about a wider political vacuum when Mrs Merkel steps down. The shifting course of politics now post-floods and pre-election will be studied very closely. A mooted coalition between the CDU and the Greens might become politically untenable. Thus, the winner-plus-runner-up-style grand coalition government model seen under Mrs Merkel would fall apart, injecting new instability in the political system.

With Mr Biden’s climate change agenda confronting Germany to move faster, there are potential sources of friction between the two allies.

The White House meeting has come at a tragic time for Germany. This has obscured the very real divisions that have seen both leaders agree to disagree – so far.

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The specs: 2018 Genesis G70

Price, base / as tested: Dh155,000 / Dh205,000

Engine: 3.3-litre, turbocharged V6

Gearbox: Eight-speed automatic

Power: 370hp @ 6,000rpm

Torque: 510Nm @ 1,300rpm

Fuel economy, combined: 10.6L / 100km

UAE currency: the story behind the money in your pockets
Dubai works towards better air quality by 2021

Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.

The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.

These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.

“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.

“We’re in a good position except for the cases that are out of our hands, such as sandstorms.

“Sandstorms are our main concern because the UAE is just a receiver.

“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”

Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.

There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.

“There are 25 stations in total,” Mr Al Daraji said.

“We added new technology and equipment used for the first time for the detection of heavy metals.

“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”

Semi-final fixtures

Portugal v Chile, 7pm, today

Germany v Mexico, 7pm, tomorrow

The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Ballon d’Or shortlists

Men

Sadio Mane (Senegal/Liverpool), Sergio Aguero (Aregentina/Manchester City), Frenkie de Jong (Netherlans/Barcelona), Hugo Lloris (France/Tottenham), Dusan Tadic (Serbia/Ajax), Kylian Mbappe (France/PSG), Trent Alexander-Arnold (England/Liverpool), Donny van de Beek (Netherlands/Ajax), Pierre-Emerick Aubameyang (Gabon/Arsenal), Marc-Andre ter Stegen (Germany/Barcelona), Cristiano Ronaldo (Portugal/Juventus), Alisson (Brazil/Liverpool), Matthijs de Ligt (Netherlands/Juventus), Karim Benzema (France/Real Madrid), Georginio Wijnaldum (Netherlands/Liverpool), Virgil van Dijk (Netherlands/Liverpool), Bernardo Silva (Portugal/Manchester City), Son Heung-min (South Korea/Tottenham), Robert Lewandowski (Poland/Bayern Munich), Roberto Firmino (Brazil/Liverpool), Lionel Messi (Argentina/Barcelona), Riyad Mahrez (Algeria/Manchester City), Kevin De Bruyne (Belgium/Manchester City), Kalidou Koulibaly (Senegal/Napoli), Antoine Griezmann (France/Barcelona), Mohamed Salah (Egypt/Liverpool), Eden Hazard (BEL/Real Madrid), Marquinhos (Brazil/Paris-SG), Raheem Sterling (Eengland/Manchester City), Joao Félix(Portugal/Atletico Madrid)

Women

Sam Kerr (Austria/Chelsea), Ellen White (England/Manchester City), Nilla Fischer (Sweden/Linkopings), Amandine Henry (France/Lyon), Lucy Bronze(England/Lyon), Alex Morgan (USA/Orlando Pride), Vivianne Miedema (Netherlands/Arsenal), Dzsenifer Marozsan (Germany/Lyon), Pernille Harder (Denmark/Wolfsburg), Sarah Bouhaddi (France/Lyon), Megan Rapinoe (USA/Reign FC), Lieke Martens (Netherlands/Barcelona), Sari van Veenendal (Netherlands/Atletico Madrid), Wendie Renard (France/Lyon), Rose Lavelle(USA/Washington Spirit), Marta (Brazil/Orlando Pride), Ada Hegerberg (Norway/Lyon), Kosovare Asllani (Sweden/CD Tacon), Sofia Jakobsson (Sweden/CD Tacon), Tobin Heath (USA/Portland Thorns)

 

 

How%20I%20connect%20with%20my%20kids%20when%20working%20or%20travelling
%3Cp%3E%0D%3Cstrong%3ELittle%20notes%3A%20%3C%2Fstrong%3EMy%20girls%20often%20find%20a%20letter%20from%20me%2C%20with%20a%20joke%2C%20task%20or%20some%20instructions%20for%20the%20afternoon%2C%20and%20saying%20what%20I%E2%80%99m%20excited%20for%20when%20I%20get%20home.%0D%3Cbr%3E%3Cstrong%3EPhone%20call%20check-in%3A%20%3C%2Fstrong%3EMy%20kids%20know%20that%20at%203.30pm%20I%E2%80%99ll%20be%20free%20for%20a%20quick%20chat.%0D%3Cbr%3E%3Cstrong%3EHighs%20and%20lows%3A%20%3C%2Fstrong%3EInstead%20of%20a%20%E2%80%9Chow%20was%20your%20day%3F%E2%80%9D%2C%20at%20dinner%20or%20at%20bathtime%20we%20share%20three%20highlights%3B%20one%20thing%20that%20didn%E2%80%99t%20go%20so%20well%3B%20and%20something%20we%E2%80%99re%20looking%20forward%20to.%0D%3Cbr%3E%3Cstrong%3EI%20start%2C%20you%20next%3A%20%3C%2Fstrong%3EIn%20the%20morning%2C%20I%20often%20start%20a%20little%20Lego%20project%20or%20drawing%2C%20and%20ask%20them%20to%20work%20on%20it%20while%20I%E2%80%99m%20gone%2C%20then%20we%E2%80%99ll%20finish%20it%20together.%0D%3Cbr%3E%3Cstrong%3EBedtime%20connection%3A%20%3C%2Fstrong%3EWake%20up%20and%20sleep%20time%20are%20important%20moments.%20A%20snuggle%2C%20some%20proud%20words%2C%20listening%2C%20a%20story.%20I%20can%E2%80%99t%20be%20there%20every%20night%2C%20but%20I%20can%20start%20the%20day%20with%20them.%0D%3Cbr%3E%3Cstrong%3EUndivided%20attention%3A%20%3C%2Fstrong%3EPutting%20the%20phone%20away%20when%20I%20get%20home%20often%20means%20sitting%20in%20the%20car%20to%20send%20a%20last%20email%2C%20but%20leaving%20it%20out%20of%20sight%20between%20home%20time%20and%20bedtime%20means%20you%20can%20connect%20properly.%0D%3Cbr%3E%3Cstrong%3EDemystify%2C%20don%E2%80%99t%20demonise%20your%20job%3A%20%3C%2Fstrong%3EHelp%20them%20understand%20what%20you%20do%2C%20where%20and%20why.%20Show%20them%20your%20workplace%20if%20you%20can%2C%20then%20it%E2%80%99s%20not%20so%20abstract%20when%20you%E2%80%99re%20away%20-%20they%E2%80%99ll%20picture%20you%20there.%20Invite%20them%20into%20your%20%E2%80%9Cother%E2%80%9D%20world%20so%20they%20know%20more%20about%20the%20different%20roles%20you%20have.%3C%2Fp%3E%0A
Sri Lanka squad

Dinesh Chandimal, Dimuth Karunaratne, Kaushal Silva, Kusal Mendis, Angelo Mathews, Lahiru Thirimanne, Niroshan Dickwella, Sadeera Samarawickrama, Rangana Herath, Suranga Lakmal, Nuwan Pradeep, Lakshan Sandakan, Vishwa Fernando, Lahiru Kumara, Jeffrey Vandersay, Milinda Siriwardana, Roshen Silva, Akila Dananjaya, Charith Asalanka, Shaminda Eranga and Dhammika Prasad.

Water waste

In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.

Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.

A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.

The Emirates is the world’s third largest per capita water consumer after the US and Canada.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
MATCH INFO

Liverpool 4 (Salah (pen 4, 33', & pen 88', Van Dijk (20')

Leeds United 3 (Harrison 12', Bamford 30', Klich 66')

Man of the match Mohamed Salah (Liverpool)

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

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Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

Updated: July 18, 2021, 1:48 PM