German financial situation: debt vigorously press

Federal bankruptcy eagle or vulture? Back to the gigantic mountain of debt from the current 1.6 trillion every year, new debts are in the tens of billions of dollars. Mounting: Infographics How dramatic the financial situation really is? At the start of coalition talks all sorts of numbers whizzing across the room. We are looking for a path through the jungle. 40, 49, even 75 billion euros for allegedly missing from the next budget. Where are these numbers? ! Head of the Chancellery, Thomas de Maizière has undertaken an assessment of the budgetary situation. It lists 49.1 billion euro, which hit a new debt this year to book. The German Institute for Economic Research (DIW) speaks of 75 billion, which should be saved until 2013, when federal, state and local authorities. And this year, half of which the federal government. What causes the debt? ! One reason lies in the economic and financial crisis caused the billion-dollar bailouts of banks. However, the black-red coalition also issued before the crisis triggered lively money and so durable expenditure of 43.5 billion euros. Critics, including the FDP was one, had always warned that financial management. So now announced a strict austerity measures? ! The Liberals would have liked. The CDU wants to avoid the rather, because he also could stifle investment in the economy. Kanzlerin Angela Merkel will "der Krise nicht hinterhersparen." In addition, the new "debt brake" of the Basic Law allows more debt, ever be lower economic growth and requires strict savings only when growth has resumed. Some institutions are predicting a higher economic growth than previously expected. How helpful is it? One to two percent could be in it because of the Konjukturpakete that unfold until next year, its full impact. In addition, the former Finance Minister Peer Steinbrueck has conservatively planned, if the growth is higher than expected, increasing the revenue. So the situation is, despite the budget hole is not so tense? ! Starting in 2011, takes the new debt brake. Then move out of the finance ministers of the generous mood has fewer loans and record - as it says in the Constitution. By 2016, the loans must be reduced so that only a deficit of 0.35 percent of gross domestic product (now equivalent to about eight billion euros) to finance the expenditure. If the economy goes well, it is even less. Nor did the European Union have a say? ! Germany is not satisfied for the moment both so-called Maastricht criteria. They say that) the annual government deficit (net borrowing shall not exceed 3.0 percent of gross domestic product should. Moreover, government debt should not represent more than 60 percent of GDP. What does this mean for tax cuts, which would reduce the revenue? ! The margin is extremely low. Possible is an increase in family allowances in 8004 of euros during this year, perhaps small corrections to inheritance and corporate taxes.