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From NATO, new proof that Belgium and Germany are pathetic allies

“In 2014, Belgium spent 0.98 percent of GDP on defense, and Germany spent 1.18 percent” writes Screenshot Nato for washingtonexaminer.com. In 2018, Belgium spent an insane 72.06 percent of its defense budget on personnel, and Germany spent 46.97 percent.The leader of Europe’s largest economy is happy with the current status quo, in which the U.S. accounts for 50.1 percent of total NATO GDP and 70 percent of total NATO defense spending. Source: washingtonexaminer.com

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Germany will set own security standards, Merkel says after U.S. warning on Huawei

“BERLIN (Reuters) – Germany will define its own security standards for a new 5G mobile network, Chancellor Angela Merkel said on Tuesday, when asked about Washington’s warning that it would scale back data-sharing with Berlin if China’s Huawei was allowed to participate” writes Midwest Communications Inc for 95kqds.com. U.S. Ambassador Richard Grenell last week sent a letter to Germany’s Economy Minister Altmaier warning of security concerns linked to Huawei’s role in building critical infrastructure.. Source: 95kqds.com

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Germany faces losing US intelligence if it uses Huawei equipment

“The US has warned Germany that it risks being cut off from sensitive American intelligence if it lets Huawei build its next generation of mobile phone networks” writes James Titcomb for telegraph.co.uk. It is the first time the US has directly threatened a country with an intelligence blackout for using Huawei equipment, and escalates Washington’s already-heated battle with the Chinese telecoms giant . Source: telegraph.co.uk

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US tells Germany to stop using Huawei equipment or lose some intelligence access

“While the US plans to continue sharing intelligence with Germany regardless, the Journal reports, officials plan to curtail the scope of that information if Huawei equipment is used in German infrastructure” writes Mar Edt for theverge.com. The letter, according to the Journal, argues that network security can’t be effectively managed by audits of equipment or software.The Trump administration has been pressing allies to end their relationships with Huawei, but Germany, moving ahead with its plans, has not moved to ban the company from its networks.In one of the most explicit…

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The OECD shows in its latest report how interwoven the global economy is

“But what was more telling about its interim economic outlook was the underlying message of a global economy bound together” writes D C for marketwatch.com. All told, the OECD now forecasts global growth of 3.3% this year (down two-tenths of a percentage point from its November estimate) and growth of 3.4% in 2020 (down a tenth). “The global expansion continues to lose momentum, amidst heightened policy uncertainty, persistent trade tensions and ongoing declines in business and consumer confidence,” the OECD said. Source: marketwatch.com

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World economy is vulnerable to US slump – and can expect little help from China or Germany 

“The US economy is slowing and the rest of the world is highly exposed, meaning a serious slump could spread quickly to other nations, economists have warned” writes Tim Wallace for telegraph.co.uk. At the same time China has little room to launch any major stimulus, as it did in the financial crisis, and other leading economies are unlikely to help.Analysts at Citi have chopped their forecasts for the world’s largest economy, warning that US growth and financial markets still have an outsized impact on the rest of the world. “The…

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R Kelly concerts in Germany cancelled as singer is released on bail

“R Kelly concerts in Germany have been cancelled after the rapper was released from jail on $100,000 bail on Monday (25Feb19)” reports hollywood.com. Last week, a judge ordered Kelly to surrender his passport after defiantly scheduling concerts in Germany and the Netherlands despite his legal troubles.Following Kelly’s subsequent arrest, the arena revealed that they planned to reach out to reps again now that the star’s legal situation has changed. Source: hollywood.com

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‘Verdammt’: Just when you thought the worst was over, Germany’s economy moved dangerously close to falling ‘over the edge’ into recession

“Whatever happened in the second half of last year got worse in Q1, and is now threatening to push the German economy over the edge.”” writes Will Martin for businessinsider.com. They had expressed hope that with those factors out of the way the economy would pick up again in 2019.Pantheon Macroeconomics’ Claus Vistesen had a similarly bleak message about the Ifo survey, noting that the headline figure was “horrible,” and delivers a “somber message” about the German economy.Germany may have narrowly avoided a technical recession at the end of 2018,…

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