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German Chancellor Olaf Scholz on Saturday urged the public to face the country's economic problems together, as inflation in Europe's leading economy remained stubbornly high. Scholz published a new video in his weekly podcast, admitting that rising prices were troubling many citizens . He called for the population to "link arms and stick together." Just days after data showed prices rose 7.6% in June compared to a year earlier, Scholz said he would convene a meeting of experts to tackle the cost of living crisis. The chancellor said he has invited trade unions, employers, the central bank (Bundesbank) and academics for a summit that kicks off Monday at the chancellery in Berlin. The campaign, dubbed "Concerted Action," echoes similar efforts by former West German chancellors in the 1960s and 1970s. One-off payments proposed instead of wage hikes Economists and politicians have mooted several ideas in recent days to ease the burden on personal budgets. Labor Minister … [Read more...] about Scholz: Germans must ‘stick together’ over cost of living crisis

Published 6 days ago Share close Share page Copy link About sharing Related Topics Russia-Ukraine war Leaders of the world's seven richest nations have promised to support Ukraine "for as long as it takes" on the second day of a summit in Germany. In a statement, the G7 group also said that Russia must stop blocking food from leaving Ukraine's ports. Addressing the summit via video-link, Ukraine's president appealed for more heavy weapons from Western allies. G7 leaders are under pressure to be united in their approach against increasing Russian aggression. "We will continue to provide financial, humanitarian, military and diplomatic support and stand with Ukraine for as long as it takes," they said in a strongly worded statement on Monday. "We remain appalled by and continue to condemn the brutal, unprovoked, unjustifiable and illegal war of aggression against … [Read more...] about Ukraine war: G7 pledges to stay with Ukraine until the end

By Patrick Jackson Published 6 days ago Share close Share page Copy link About sharing Related Topics Russia-Ukraine war Russian forces are "storming" the east Ukrainian city of Lysychansk, the local governor says, with eight civilians killed by shelling. Serhiy Haidai, governor of Luhansk region, said 21 other people had been injured in the attack, which came as they collected water from a tanker. Earlier on Monday, he told people to evacuate immediately because of the "real threat to life and health". The nearby city of Severodonetsk fell to the Russians at the weekend. The region is Russia's military focus four months after it invaded Ukraine. Since withdrawing from the area around the capital Kyiv in early April, the Russian military and their separatist allies have been trying to drive Ukrainian government forces out of Luhansk and the neighbouring … [Read more...] about Ukraine war: Russian forces ‘storming’ besieged city of Lysychansk