tv Business Today BBC News February 24, 2025 11:30am-11:48am GMT
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and germany has voted — but will the conservative friedrich merz be able to pull together a coalition that can inject economic growth? welcome to business today. european union, ursula von der leyen and the eu have announced a new payment of 3.5 billion euros to be paid in march, as well as plans to scale up european arms production and defence capabilities.
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more money on russian fossil fuels than on that compares to the 718.7billion the eu allocated to ukraine to infrastructure at around a trillion dollars. there are big questions about funding petras katinas is an energy analyst with crea — many will find astonishing, that number of aid versus on fossil how 7 imriowdid: ’ how did you calculate
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afternoon. have this? good afternoon. we have been working _ this? good afternoon. we have been working on _ this? good afternoon. we have been working on sanctions - this? good afternoon. we have been working on sanctions and| been working on sanctions and tracking fossil for three tracking fossil. fuel. for three and developed our gagséand we developed our and we are tracking open model and we are tracking open source data such as euro start and other data providers. we source data such as euro start anc volume ata providers. we source data such as euro start anc volume and nroviders. we source data such as euro start anc volume and pricing s. we get volume and pricing according to sources. get volume and pricing according to . sources. get volume and pricing accol this to . sources. get volume and pricing accol this tell i sources. get volume and pricing accol this tell us sources. get volume and pricing accol this tell us about as. get volume and pricing acco| this tell us about ourdhdt does this tell us about our continued on russian continued reliance on russian fuels? if continued reliance on russian fuels? , , ., ~ ., fossil fuels? % 4??? the euro ean fossil fuels? % e??? - the european union, fossilfuels? 5:2 §§ - the european union, we fifllifth’f eu rfiefafl e! fll’fifl’fiffi to “fifth? eu rfiefafl e! fll’fifi’ fit to say emit“? ee ffiee’ifi’ e! filififif eee’ to say that emit“? e�*jffi’ée’ifi’ e'fi'fififfife’ to say that actually the have to say that actually the european union, since the full—scale invasion, actually reduced fossil fuel drastically reduced fossil fuel input from russia, cutting crude z: crude oil and purchases of crude oil—and r———~r~w~—~~—— nas. purchases of crude oil—and ~~ ~ , ~ gas. year prior invasion, the 7 7 invasion, the eu to the invasion, the eu payment russia totalled 154—macro euros. has
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e' euros is; fallen billion euros. this has fallen to 22 billion euros. we see to 22 billion euros! we see 7—— actually the european that actually the european union do not buy such volumes as they did prior to the however, it is invasion. however, it is to emphasise that important to emphasise that commodities such as pipeline gas sanctioned and gas are not sanctioned and european union third year of the war actually still bought these commodities as well, basically supporting the invasion �* ukraine. russian invasion of ukraine. given that, many will be u—f— — eande confused and think, on sanctions supposed to be in to stop the eu and uk place to stop the eu and uk buying this of stuff from buying this sort of stuff from it in the face buying! this sort of stuff from it in the face of russia, it flies inthe face of the political statements on all the political statements on reducing dependence on wee need probably to be eee efe eeee efeeeele ee ee e about eee egge eeee efeeeele ee ee e about that. eee eee eeee efeeeele ee ee e about that. when it comes open about that. when it comes fossil fuel,
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open about that. when it comes fossilfuel, especially open about that. when it comes fossil fuel, especially gas, to fossil fuel, especially gas, basically a few countries basically only a few countries voluntarily phased start geas. mainly it is russian gas. mainly it is scandinavian, baltic scandinavian, nordic and baltic countries. the rest of them, they basically declined to phase out russian gas voluntarily. everything happened because third happened because of third for nord parties, for example, nord stream 1 explosion, ukraine just refused renew just refused to renew a transition with transition agreement with — so transition agreement with . so basically, when it russia, so basically, when it comes to this specific the eu needs to commodity, the eu needs to improve it and show that lntprslce it and show that are better actually, they are better ukrainian as they are qlcrainian allies as they are? f~~ 7m” f 77—7 elerainian allies as they are? f~~ 7m” f 77—7
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and their bavarian partners, the christian social union. but the pathway to government is tricky. needs to form a coalition that will not include the alternative fur deutschland — a hard—right party that came will be a big challenge. germany has been navigating choppy waters over let's speak to nils kupka, partner at the law firm gowling wlg in frankfurt. good to have you here. talk to me, first of the potential me, first of all, the potential for a to done and we for a deal to be done and we will come onto the implications |..iii �*ama anba bka imnii�*ahan. "reefer-"e exiles! e'ee rillpie-ese-ss-le e's—55" r'f'f how |..iii �*ama anba bka imnii�*ahan. how likely will same ants the "waste": e1 eee how likely will in the second, how likely will a deal go in the second, how likely will a deal 90 _ a deal go through? the christian _ a deal go through? the l christian _ have a deal go through? the - christian _ have won christian democrats have won the election with friedrich merz candidate as new
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he has e ee eeties, e eeties, he has alumnae as the a. 2.2 e the board experience on the board of black rock. inside with black rock. inside is with working with the there are e who consider this e xu; euueue'aue useful many who consider this useful and according to the and according te the , results, a preliminary results, a could be by eeeofee as. us a... 22.2” as . of ”eugene” of ”"usuueeeuu of ”"usuu’er’e’;nu i we could see a new think we could see a new government in coalition soon. there are currently already now with social negotiations with the social democrats.— negotiations with the social democrats. ., l, , , a democrats. eff—e : ~ a deal is done, [5 democrats. eff—e : ~ a deal is done, m eeeeop ofe e e eeeeop ofethe e e eeeeop ofethe to—do e e eeeeop ofethe to—do liste e eeeeop ofethe to—do listeof e the top of the to—do list of that government? the that new government? the economy shrank in past two economy shrank in the past two years, there is a huge challenge in terms of getting growing again. once the germany growing again. once the. of the european powerhouse of theseueropea n what happened ? eeeheeeehe ehee e�*ie�*he eehe ee more. we i european powerhouse of the european union, what happened? you're powerhouse oftheeu: - what happened? union, what happened? you're absolutely _ union, what happened? you're absolutely right. _ absolutely _ union, what happened? you're absolutely right. _ union, what happened? you're absolutely right. on _ union, what happened? you're absolutely right. i top - union, what happened? you're union, what happened? you're absolutely right. on top i union, what happened? you're absolutely right. i top of - absolutely right. on top of i
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union, what happened? you're union, what happened? you're absolutely right. i top of the | absolutely right. qntop of the will set to the absolutely right. on top of the | absolutely right. on top of the agenda, will set to lower the ascflda eill eee ee [eeerefle e your chrissie. this was a very �*chrissie. eeehee eill eee ee iefieerefle e �*chrissie. this eeehee eill eee ee ieeeerefle e �*chrissie. this was eeehee eill eee ee ieeerefle e �* chrissie. this was a your chrissie. this was a very high of businesses. the high demand of businesses. the next thing will be to lower hish demand ee bfneeeee ehe ~ ~ ~ . ~ thing will be to lower prices and that in energy prices and that in energy prices and that in combination with building up combination with building up and reinforcing trade and reinforcing trade e e | e e i think relationships, i think that is what will sit on top of the ——m more. we will agenda. might there be a question _ agenda. might there be a whether that new question about _ agenda. might there be a question about whether l agenda. might there be a i question about whether that agenda. might there be a - question about whether that new question about whether that new government decides to borrow government decides to borrow more or spend more? government decides to borrow more orspend more? if government decides to borrow more or spend more? if you look more or spendemoreee'ifyou look, debt to gdp is at at debt to gdp it is at at debt to gdp it is at historic lows to its historic lows compared to its compared to its historic lows compared to its neighbours. is there a question neighbours. is there a question about whether government about whether the government about whether the government needs to step up and spend more needs step up spend more infrastructure in is one $7 mei democrats, who e not eggegemocrats. who have not it, according to the made it, according to the preliminary results come into parliament, they want to
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about whether the government needs to step up the spend more about whether the government needs to step up the joint |d more press as soon as the joint was was how statement was made, was how soon we could see this, where statement was made, was how soo there ould see this, where statement was made, was how soo there is ld see this, where statement was made, was how soo there is ai see this, where statement was made, was how soo there is a timeline, where statement was made, was how soo there is a timeline to lhere jghgthere is a timeline to the fighgjhere is a timeline to the minister ngthere is a timeline to the minister said, we which the minister said, we will not rush things. these are long—term that need to long—term issues that need to be at but while he said long—term issues that need to be will at but while he said long—term issues that need to be will at speed, .e he said long—term issues that need to be will at speed, they said long—term issues that need to be will at speed, they willi there will be speed, they will not be haste. similarly his jonathan reynold, to try and this urgency to try and get this done, it has the support of the prime keir prime minister, keir starmer, so a lot of optimism so there was a lot of optimism when both ministers were together on that stage, explaining why this together on that stage, explaining forythis ls . e! , together on that stage, explaining for both ls . e! , together on that stage, explaining for both countries. , important for both countries. but there are still several sticking points out i but there are still several sticking the ts out i but there are still several sticking the question i but there are still several sticking the question about suppose the question about timing will be very pertinent, but also the areas where there is most potential for a but also the areas where there is most potentialfor a deal to done. e ugnefque” done. talk to me about be done. talk to me about the �*each be done. talk to me about the �* each country when importance of each country when it comes to trade. what do both sides stand to gain here?
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negotiations have been on e 2022. e e e 2022. they e e e 2022.theywere e e e 2022. they were stealletei since 2922. they were stalled of elections the because of elections but the key sticking points, the uk has been concerned about high tariffs on like e has been looking whisky. india has been looking for the uk to do more in a visa fees as well as relaxing visa fees as well as rooms to foreign rooms to increase foreign it will unlock more students. it will unlock more potential, especially after brexit. they have identified such as advanced sectors such as advanced manufacturing, clean energy. manufacturing. clean energy. a they are hoping possibly a three tiered agreement could unlock a very large indian unleee a eereelareeelneian e e for british cars. these market for british cars. these are some of the sectors they are some oe the sectors theu . looking at, but are some oe the sectors they . looking at, but these are some oe the sectors theu . looking at, but these are are looking at, but these are complicated issues but the timing is significantly the timing is important. it is coming at a important; !e is semingaeeaee e is ivfiggrtgnt; !t is egvfiifigg’g’g” ’ is both imggrtgnt; it, is egvfiifigg’g’g” ’ is both countries time is when both countries will look to make the most of it. india the of it. india in the shadow of those us tariffs. at the trade between and moment, trade between india and the uk is about $52 billion,
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they are to up that they are looking to up that as well but having said that, this for a hasn't happened for a while because a lot of issues to because a lot of issues need to because a lot of issues need to be ironed out. now there is a new political regime the uk, new political regime in the uk, there is could there is hope this could actually bear fruit in a year's actually bear fruit. in. a year�*s ""’*""'*”*”"’” or aalaally aaaf frail in. a yaaf�*a ""’*""'*”*”"’” or more. aatuallg baar fruit in a gaar�*a " ' " "'*' 7 " ’ ' w or more. ,, will invest $50 billion in artificial intelligence and cloud computing. last week the company's share price soared by 15 % an online retail giant whose self—made founderjack ma favour with beijing. now the once maligned tech exec is back. year. in a blog post it said it
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doesn't get carried away. dos never ft carried away. dos never think'ied away. dos never think like away. dos never think like that. if you start somewhere, you never think �*yourself in terms of think of yourself in terms of points. know one saw us as a z— title contender at the beginning of the season and no in the world of football one in the world of football have expected city not to would have expected citylnot to so close to the one that be so close to the one that the league if they are leads the league if they are not the ones that lead the league. we all know why, they mam; injuries. league clash at spurs. it is dangerous
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