US announces $425 million in new Ukraine security aid

The United States announced Friday that it will provide an additional $425 million in military aid to Ukraine, a day after Washington said thousands of North Korean troops were ready to enter combat against Kyiv’s forces.

The assistance “will provide Ukraine additional capabilities to meet its most urgent needs, including: air defense interceptors; munitions for rocket systems and artillery; armored vehicles; and anti-tank weapons,” the Defense Department said in a statement.

The package, which will be drawn from US stocks, also includes air-to-ground munitions, medical equipment, demolition munitions and spare parts, the statement said.

“The United States will continue to work… to meet Ukraine’s urgently needed battlefield requirements and defend against Russian aggression,” it added.

The previous day, US Secretary of State Antony Blinken said that of the 10,000 North Korean troops believed by the United States to have been sent to Russia, up to 8,000 have been deployed to the Kursk region bordering Ukraine.

“We’ve not yet seen these troops deploy into combat against Ukrainian forces, but we would expect that to happen in the coming days,” Blinken told a news conference.

Ukrainian troops have been conducting a ground offensive in Kursk since August and control several hundred square miles of Russian territory.

Russia and North Korea have deepened their political and military alliance as the Ukraine war has dragged on, but sending Pyongyang’s troops into combat against Kyiv’s forces would mark a significant escalation that has sparked international concern.

The United States has been a key military backer of Ukraine, committing more than $60 billion in weapons, ammunition and other security aid since Russia launched its full-scale invasion in February 2022.



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    …CENTER OF RAFAEL CONTINUES TO MOVE AWAY FROM WESTERN CUBA…
    …STORM SURGE, WINDS, AND RAINS SHOULD SUBSIDE ACROSS CUBA
    OVERNIGHT…
    Location: 23.8°N 84.1°W
    Max sustained: 105 mph
    Moving: NW at 13 mph
    Min pressure: 969 mb

    Issued at 100 AM EST Thu Nov 07 2024

    German Government Collapses As Mass Strikes Grind Economy To A Halt

    German Government Collapses As Mass Strikes Grind Economy To A Halt

    It’s not a good day for the establishment. Just hours after Kamala Harris – and the Democrats – staggering loss which ushered in Trump as president for the third time and gave Republicans a sweep of Congress, Germany’s three-party ruling coalition which had been on the verge of collapse for months, imploded on Wednesday evening after Chancellor Olaf Scholz announced he will fire Finance Minister Christian Lindner over persistent rifts on spending and economic reforms, a move that paves the way for a snap election at the end of March.

    The firing ejects Lindner’s fiscally conservative Free Democratic Party  (FDP) from the troubled coalition, forcing Scholz to call for a confidence vote that he said would take place on January 15. If Scholz loses that vote, which is virtually certain, a snap election is set to take place by March.

    The collapse of Germany’s government came just hours after Donald Trump’s clear win in the U.S. election, a result that stunned German political leaders, who depend on American military might for their country’s defense and fear Trump’s tariff policies will hobble German industry.

    “Dear fellow citizens, I would have liked to have spared you this difficult decision, especially in times like these, when uncertainty is growing,” said Scholz – viewed as the weakest German chancellor in decades – in a statement at the chancellery.

    But the rifts inside the coalition proved too great to overcome. Caught in the middle of an impossible battle, Lindner and his conservative FDP insisted that the German government stick to strict spending rules and cut taxes, even as his left-wing coalition partners wanted to maintain social spending and boost German industry through economic stimulus.

    “All too often, Minister Lindner has blocked laws in an inappropriate manner,” said Scholz in a statement. “Too often he has engaged in petty party-political tactics. Too often he has broken my trust.”

    Scholz said he had offered Lindner a deal to create an emergency fund to aid Ukraine that would exist outside Germany’s regular budget, but Lindner refused to participate in such fiscal gimmicks that saw the UK recently redefine the nature of “debt.”

    “Olaf Scholz has long failed to recognize the need for a new economic awakening in our country,” said Lindner. “He has long played down the economic concerns of our citizens.”

    As Politico reports, the FDP is the smallest party in the coalition and is now polling at only four percent — below the threshold needed to make it into the German parliament — meaning its leaders have been mulling a coalition break in order to save their political futures.

    Crisis talks in the coalition of Scholz’s Social Democratic Party, the Greens and Lindner’s Free Democratic Party had come to a head after the FDP issued a paper with demands for liberal economic reforms that were difficult for the other two parties to accept.

    Lindner’s recent policy paper, leaked to the media last week, called for tax cuts and a scaling back of climate policies in order to stimulate economic growth — both positions that put the party at odds with his coalition partners.

    Central to the coalition disagreements was the adoption of the 2025 budget by parliament in which a gap of at least €2.4 billion, and potentially far more, needs to be filled, as well as an agreement on measures to revamp the country’s ailing economy.

    The government crisis comes at the worst possible time: Trump’s victory, which anticipates imposing significant tariffs on German exports, is expected to put heavy pressure on Europe’s largest economy. An analysis from the German Economic Institute (IW) estimates that a new trade war could cost Germany €180 billion over Trump’s four years in office.

    Many in Germany had hoped that the victory of Donald Trump in the U.S. election earlier in the day would force the coalition to hold together over fears that the incoming president would give Europe’s biggest economy a hard ride, targeting its all-important car industry in a trade war.

    Ultimately, however, not even the looming threat of Trump proved enough for the fractious parties to put aside their differences.

    Sensing that the economy is about to go from bad to much worse, last Tuesday – amid mounting concern about the imminent collapse of the EU’s largest manufacturing economy – Germany’s giant trade union IG Metall launched strikes in the nation’s metal and electrical industries in an attempt to win higher wages. According to the tabloid Bild, employees began walking off the job during the night shift, including at Volkswagen’s plant in the city of Osnabruck, where workers worry the plant may be closed.

    Elsewhere, around 200 employees of the battery manufacturer Clarios went on strike in Hanover, Lower Saxony, carrying torches and union flags, the outlet wrote.

    Meanwhile, in Hildesheim, Lower Saxony, around 400 employees, including those at Jensen GmbH, KSM Castings Group, Robert Bosch, Waggonbau Graaff and ZF CV Systems Hannover, have reportedly halted operations.

    Protests are also expected at BMW and Audi plants in Bavaria. Work is to be stopped nationwide during the course of the day, the tabloid wrote.

    ”The fact that production lines are now at a standstill and offices are empty is the responsibility of the employers,” IG Metall’s negotiator and district manager Thorsten Groger stated, as quoted by Deutsche Welle.

    IG Metall is demanding a 7% pay raise compared to the 3.6% raise over a period of 27 months offered by employers’ associations, due to soaring inflation. The companies call such demands unrealistic.

    The mass strikes come as Volkswagen announced on Monday it would close “at least” three of its ten plants in Germany, lay off tens of thousands of staff and downsize remaining plants in the country. The measures are part of a cost-cutting drive, the conglomerate said earlier. Oliver Blume, chief executive of the VW Group, has cited a “difficult economic environment” and “failing competitiveness of the German economy” as factors behind the decision.

    The German Association of the Automotive Industry warned last year that the country was “dramatically losing its international competitiveness” due to soaring energy costs.

    A recent survey by the VDA auto industry association suggested that the reshuffling of the German car industry could lead to 186,000 job losses by 2035, roughly a quarter of which have already occurred.

    Tyler Durden
    Wed, 11/06/2024 – 23:25

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