30-04-2021 )
Nine months after European leaders agreed the European Recovery and Resilience Facility (RRF) of €672.5 billion to support the European economy after Covid-19, there are still 10 countries that have not yet ratified the RRF or submitted their recovery plans to the EU. [SHUTTERSTOCK]
Germany battles with a protracted slump as woes keep mounting
Lingering lockdowns and computer chip supply problems for its crucial car industry will prolong the Covid pain in Europe s largest economy
Volkswagen says chip supply delays are affecting hundreds of separate parts
Germany suffered a sharp economic contraction in the first quarter and faces further trouble over the Spring as its industrial core grapples with a semiconductor crunch, made worse by rocketing carbon and metal prices.
The German auto association said the shortage of chips and other key components has become critical and risks blighting the second half of the year.
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Germany s climate change laws are insufficient and violate fundamental freedoms by putting the burden of curbing CO2 emissions on the young, its highest court has ruled.
It says the law fails to give enough detail on cutting CO2 emissions after current targets end in 2030. The provisions irreversibly offload major emission reduction burdens on to periods after 2030, it found.
The government will now have to revise the law by the end of the next year.
The decision comes a week after the EU unveiled ambitious new climate change targets.
Under the law, which was agreed between member states and the European Parliament, the bloc will cut carbon emissions by at least 55% by 2030, compared with 1990 levels.