Shift to the right: Olympic champion Mihambo fears for her life
"Of course, but fear doesn' help," Mihambo said in an interview with Thursday's Frankfurter Allgemeine Zeitung.
The far-right and anti-immigrant Alternative for Germany (AfD) garnered 20.8% in the recent general elections which made it the second strongest party behind the Christian Democrats (CDU) in the country.
The AfD is rated a confirmed right-wing extremist group by Germany's domestic intelligence agency in three eastern states.
'One of the weaknesses of democracy is that parties can stand for election that reject its fundamental values," Mihambo said.
She said that one of the lessons from the Nazi era and World War II should be "that anti-democratic parties must have no place in a democracy" and that zero tolerance should be shown in this area.
Mihambo, who won Olympic gold in 2021 and also has two world titles, suggested that the rise of the right showed that "National Socialism has perhaps been dealt with intellectually, but not yet emotionally, and not by enough people.
"Mindfulness and vigilance are needed now - but also clear boundaries where they are needed," she said.
Mihambo said that fake news and disinformation campaigns on social are among the driving forces in the current climate.
"In the age of populism it is also about how you present information and disinformation. There is also a danger that disinformation that fuels fear, anger and hatred will not be corrected,' Mihambo said.
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Yahoo
23 minutes ago
- Yahoo
Germany updates: Companies pledge €631 billion investment
An alliance of top German companies pledged to invest at least €631 billion ($733 billion) in Germany over the next three years. Chancellor Friedrich Merz met with executives from top German firms on Monday, hoping to rally fresh investment after two years of recession. While the government has approved billions in tax relief and a €500-billion ($580 billion) fund for infrastructure and climate, Berlin says public money alone won't be enough. Below is a roundup of what Germany is talking about on Monday, July 21: Far-right AfD want new interview following protest disruption Germany's far-right Alternative for Germany (AfD) has called for a new television interview to be held, after protesters on Sunday drowned leader Alice Weidel's "summer interview" in Berlin. Each year, broadcaster ARD holds annual televised question and answer sessions with the country's main political parties. However, as Weidel was preparing to begin the interview on a terrace in Berlin's government quarter, demonstrators arrived nearby. They broke into loud singing, dancing, and chanting and made it difficult for Weidel to hear the questions she was being asked. "In such a situation, ARD should have moved to a studio to ensure a fair, uninterrupted interview," Markus Frohnmaier, the AfD's deputy parliamentary group leader, told news portal Politico. "I expect the conversation to be repeated under fair conditions," Weidel said. Meanwhile, the general secretary of the conservative Christian Democrats (CDU) who lead Germany's coalition government, said it was better for democracy to hear her views. "If you want to strengthen the AfD, go ahead and disrupt these interviews," Carsten Linnemann told broadcasters RTL/ntv. German corporate alliance pledges to invest €631 billion over 3 years An alliance of German companies, numbering in the dozens, pledged to invest at least €631 billion ($733 billion) in the German economy over the next three years. "The investments by the initiative are a very powerful signal that we are now experiencing a shift in sentiment and consolidating it," German Chancellor Friedrich Merz said. "The message ... is very clear: Germany is back. It's worth investing in Germany again. We are not a location of the past, but a location of the present and above all the future," he added. German Chancellor Friedrich Merz said that large public investments could be boosted significantly by private funding. "We want to leverage this potential and thus trigger further growth effects," Merz said after meeting with representatives of the "Made for Germany" initiative at the Chancellery in Berlin. The new government has launched a program to spur on investment and establish a €500 billion fund to splash on German infrastructure over the next 12 years. It has also pledged to cut bureaucratic red tape and speed up digitization. The initiative is being led by executives from Germany's blue-chip companies, including lender Deutsche Bank and industrial group Siemens. WATCH: Protesters derail AfD leader Weidel's interview A summer interview with Alice Weidel, the leader of the far-right party Alternative for Germany (AfD), was severely disrupted by protesters on Sunday. Members of her party have called for a repeat. Watch what happened here: German metal and electrical industries continue shedding jobs There has been a continued decline in the number of people employed in Germany's metal and electrical industry, according to the employers' association Gesamtmetall. The association said that since the beginning of 2025, there had been around 60,000 job losses. Basing its findings on a survey of companies, the association said that the number of employees in May was 2.5% lower than compared to the same period the year before. While Germany's new government has taken some measures to relieve the situation, Gesamtmetall's managing director Oliver Zander higlighted a reduction in the electricity tax and the immediate investment program as outstanding issues. "The speed at which the decline in employment in the metal and electrical industry continues shows, however, that the federal government has no time for breathers," Zander said. How Germany manages extreme heat and climate change The next heat wave has been forecast in Germany. How is a country known for its lack of air conditioning preparing? Read the full story about Germany's preparations for heat waves. How far-right social media impacted Germany's highest court Researchers say a far-right social media campaign — that painted a respected law professor as extremist — caused the suspension of the election of judges to Germany's highest court. Read the full story on the controversial failure to elect a judge to Germany's top court. Why is Deutsche Bahn facing even more delays and cancellations? Once famed for never being late, German trains almost never run on time anymore. Deutsche Bahn has launched a refurbishment program that is likely to last at least a decade, and the costs and criticism are increasing. Read the full story on increasing delays on Germany's rail network. German bond yields ease ahead of key Eurozone data Germany's bond market calmed slightly on Monday after weeks of rising long-term interest rates. Investors are now waiting for new economic data from the Eurozone and a key decision from the European Central Bank (ECB). A bond yield is the return investors get for lending money to the government by buying its bonds. When bond prices go up, yields go down — so falling yields often reflect expectations of slower growth or lower interest rates. Economists believe the ECB will keep interest rates steady for now, but might cut them again as early as September. Some analysts think this week's Eurozone business activity data could show little change, partly due to global trade worries and a strong euro. That could make German government bonds more attractive, pushing their prices up and yields down. Germany, UK and Ukraine lead military aid meeting Senior representatives from around 50 countries are reconvening for another meeting of the Ukraine Defense Contact Group. The virtual session is set to begin with opening statements from German Defense Minister Boris Pistorius, UK Defense Secretary John Healey, and Ukrainian Prime Minister Denys Shmyhal. The Ukraine Defense Contact Group was first launched on April 26, 2022, at the US air base in Ramstein, Germany — leading to the term "Ramstein format." US President Donald Trump's turnaround on military aid for Ukaine is likely to be the main topic of discussion, as NATO allies work to facilitate the weapons delivery. Abuse survivors urge Vatican to act after prosecutors drop charges against cardinal Survivors of abuse within the Catholic Church are urging the Vatican to take action against Cologne Cardinal Rainer Maria Woelki, following years of controversy and a newly closed investigation. The plaintiffs accuse Woelki of shielding perpetrators and retraumatizing victims through his handling of abuse cases in the archdiocese. The complaint, submitted by all 12 members of the survivors' advisory board at the German Bishops' Conference, was drafted by physician and board member Katharina Siepmann. "The affected often experience the cardinal's behavior as offensive," said Siepmann, who suffered three years of severe abuse as a child and has served on the board since early this year. The body was established in 2022 to represent victims and advise the Church. The group's formal complaint against Woelki refers to alleged breaches of church law, not state law. "We ultimately hope that officials in Rome — and the pope himself — will view the cardinal's behavior as unacceptable and intervene," Siepmann told German broadcaster WDR. In May, Cologne prosecutors announced that Woelki would not face perjury charges in connection with his sworn statements about when he learned of abuse allegations in his archdiocese. The archbishop had been under investigation for more than two years. Woelki, who remains a cardinal and Archbishop of Cologne, took part in the conclave that chose Pope Leo XIV. Car crashes into trampoline, lodges in barn roof The small town of Bohmte near the city of Osnabrück in the northwestern state of Lower Saxony was the scene of a spectacular accident that left two people seriously injured, including a seven-year-old boy. For as yet unknown reasons, local police reported, a car appears to have come off the road at high speed before colliding with a parked vehicle and crashing through a hedge. It then landed on a trampoline, hitting and injuring the child who was playing on it, and bounced into the attic of a barn. Read the full story about the car that crashed into a trampoline in northern Germany. Merz to meet German business leaders on investment push German Chancellor Friedrich Merz is set to meet top executives from major German firms on Monday in a bid to restore investor confidence and revive the struggling economy. Representatives from around 30 companies — including Siemens and Deutsche Bank — are expected to attend the talks in Berlin, according to sources cited by DPA. More than a dozen firms listed on the DAX, Germany's main stock index, are among those invited. The meeting will focus on the "Made for Germany" initiative, launched by Siemens and Deutsche Bank, which aims to strengthen the country's investment climate. Participating firms are expected to outline upcoming projects and signal readiness to commit fresh capital. After two years of recession and amid a bleak outlook for 2025, Merz is urging companies to ramp up domestic investment. His government, which took office in May, has approved multi-billion-euro tax relief packages to stimulate growth. A government spokesperson last week pointed to the recently passed €500 billion (over $580 billion) infrastructure and climate fund, saying public investment will lead the way — but private sector participation is essential. Once Europe's growth engine, the German economy has been hit hard by inflation, energy price shocks, and mounting global competition in the wake of the pandemic and the war in Ukraine. Welcome to our coverage Guten morgen from the DW newsroom, overlooking the Rhine River in Bonn — the former capital of West Germany. You join us as Chancellor Friedrich Merz gets ready to woo some of Germany's biggest business bosses to help get the sluggish economy back on its feet. Top names like Siemens and Deutsche Bank are expected talks in Berlin, along with more than a dozen other DAX-listed giants. About 30 firms are set to join what's being billed as a major push to rebuild investor confidence in the country's economic future. Merz is under pressure after two back-to-back years of recession and little sign that 2025 will turn things around. Follow along for the latest on what Germany is talking about on Monday, July 21.
New York Post
2 hours ago
- New York Post
Sen. Lindsey Graham warns Putin: Trump ‘about to put a whoopin' on your ass'
Russian strongman Vladimir Putin is in line for a 'whoopin'' from President Trump if Moscow doesn't come to the negotiating table to end its war on Ukraine, Sen. Lindsey Graham predicted Sunday. 'Trump has been tough on Iran, who is incredibly dangerous, but they're in a weakened state, and Putin, your turn is coming,' Graham (R-SC) told Fox News Channel's 'Sunday Night In America With Trey Gowdy.' 'Donald Trump is the Scottie Scheffler of American politics and foreign diplomacy, and he's about to put a whoopin on your ass,' added Graham, referring to the four-time major champion who added The Open's Claret Jug to his trophy case hours earlier. Advertisement On July 14, Trump gave Russia 50 days to negotiate a peace deal or face 100% secondary tariffs that would target countries importing goods such as oil and uranium, a dramatic shift in his stance toward Europe's largest conflict since World War II. 3 Russian leader Vladimir Putin has long sought to curry favor with President Trump. REUTERS 3 President Trump has warned that secondary tariffs against Russia will kick in if the Kremlin refuses to pursue peace. JIM LO SCALZO/EPA-EFE/Shutterstock Advertisement Trump also unveiled vague plans to ship billions of dollars worth of firepower — including Patriot batteries — to Ukraine, for which America's European allies will pay. Graham, who authored a bipartisan sanctions bill against Russia that is currently languishing before the Senate, admitted that 'Putin can live through sanctions,' but his war machine will take a beating if its top funders — including China, India and Brazil — pull back. 'Trump is going to impose tariffs on people that buy Russian oil. China, India and Brazil, those three countries buy about 80% of cheap Russian oil,' Graham said. 'That's what keeps Putin's war machine going.' 'The game has changed when it comes to you, President Putin, you have played President Trump at your own peril, you made a major league mistake, and your economy is going to continue to be crushed,' he added. Advertisement Russia has continued to pummel Ukraine even after Trump's announcement, targeting Kyiv on Sunday evening with an onslaught of drones and missiles. 3 Sen. Lindsey Graham is one of the key architects behind a bipartisan sanctions bill against Russia. Ukrainian Presidential Press Off/UPI/Shutterstock Graham also briefly turned his attention to Israel and blasted the US ally over its strike on the only Catholic Church in the Gaza Strip. Advertisement That attack against the Holy Family Church, which killed at least three people, drew a rare statement of regret from the Israeli government and reportedly prompted concern from Trump. 'I'm incredibly upset by that. I'm an unapologetic supporter of the state of Israel,' Graham said. 'I want to find out who did it, and I want them to be punished, and if it was settlers from the West Bank, Israelis, I want them to be punished.'
Politico
4 hours ago
- Politico
Trump's big fiscal dominance play
Presented by Editor's note: Morning Money is a free version of POLITICO Pro Financial Services morning newsletter, which is delivered to our subscribers each morning at 5:15 a.m. The POLITICO Pro platform combines the news you need with tools you can use to take action on the day's biggest stories. Act on the news with POLITICO Pro. Quick Fix President Donald Trump wants Federal Reserve Chair Jerome Powell to consider the cost of the government's ballooning debt service payments when the central bank meets later this month. It's an enduring theme in his ongoing effort to pressure the Fed chair to lower interest rates. Powell 'is truly one of my worst appointments,' Trump posted on his social network, Truth Social, on Friday. 'We deserve to be at 1% [interest rates], saving One Trillion Dollars a year on Interest Costs.' Here's why that matters: The Fed's primary responsibilities are to keep prices stable and promote maximum employment. When central banks prioritize government borrowing needs over their core mission — economists call this 'fiscal dominance' — it often leads to cascading inflation. If bond investors and consumers assume that central banks lack the ability or political will to contain higher prices from stimulative federal spending, inflation expectations climb. The economic and political fallout can be massive; the subordination of monetary policymaking to accommodate fiscal expansion was a hallmark of recent out-of-control price surges in Argentina and Turkey, and it contributed to the collapse of the Weimar Republic in Germany. So what? While he isn't using the phrase, Trump is making arguments in favor of a form of fiscal dominance. And while there are structural and technical safeguards in place to prevent such an outcome, they are not impenetrable. The Treasury-Fed Accord of 1951 — struck amid rocketing inflation after a nine-year period when the central bank had agreed to keep rates low to help the government finance World War II and its aftermath — formalized the central bank's independence from Treasury with regard to setting borrowing costs. But as former Philadelphia Fed President Charles Plosser has noted, that accord is 'an institutional arrangement, not a legal agreement.' And while the Federal Reserve Act is specific when it comes to the central bank's monetary policy objectives, fiscal considerations invariably factor into how central bankers consider the overall health of the economy. And deficits are expected to climb over the next decade as Trump's 'big, beautiful bill' takes effect. 'It would be very difficult to follow the direction in the Federal Reserve Act — to promote low inflation and full employment — if the Federal Reserve were pursuing a mandate of keeping debt service costs low,' said Lael Brainard, a former Fed vice chair and top economic adviser to President Joe Biden. Still: 'It's not an explicit prohibition, per se, but the dual-mandate responsibilities of the Federal Reserve are explicit.' Another factor to consider: There's an argument emanating from Trump's orbit that the Fed and Treasury need to work hand-in-glove to manage the central bank's balance sheet — the Fed has been a major purchaser of government securities on the open market during periods of stress. That would invariably give the administration more say in decisions that affect interest rates. Kevin Warsh, the former Fed governor who's now a contender to succeed Powell, recently floated the prospect of a new Treasury-Fed accord that would allow the Treasury secretary and central bank chief to 'describe to markets plainly and with deliberation, 'This is our objective for the size of the Fed's balance sheet.'' As Warsh described it, since the Fed's holdings of government securities have a bearing on both fiscal and monetary policy, such an accord wouldn't breach the central bank's independence. Nevertheless, the prospect of a new Treasury-Fed accord would invariably raise questions about Trump's influence over policies that ultimately affect rates. And few expect markets to respond favorably if the president's pressure campaign ultimately undermines faith in the central bank's ability to stick to its mandate as deficits continue to climb. As Brainard told me, 'At the end of the day, it's investors who decide how much they need to be compensated to hold longer-term Treasury securities and longer-term debt more generally. If their view is that inflation is going to be high — and that the Federal Reserve's ability to control inflation has been undermined — they'll simply demand more compensation.' It's Monday — And it's another very busy week on the Hill. As always, send MM tips and pitches to me at ssutton@ Driving the Week Monday … The House Appropriations Financial Services and General Government Subcommittee holds a markup of the FY2026 Financial Services and General Government bill at 5:30 p.m. … The Senate Agriculture Committee holds a markup to vote on Brian Quintenz's nomination to be chairman and a commissioner of the Commodity Futures Trading Commission, along with other nominations … Tuesday … Powell and Fed Vice Chair for Supervision Michelle Bowman speak at the Integrated Review of the Capital Framework for Large Banks Conference, which kicks off at 8:30 a.m. … World Bank President Ajay Banga speaks at the Center for Global Development's conference on development economies at 9:10 a.m. … Senate Finance Committee meets at 9:45 a.m. to mark up the nominations of Joseph Barloon to be a deputy U.S. Trade Representative in the Geneva Office and Brian Morrissey Jr. to be general counsel at Treasury … The Securities and Exchange Commission holds a meeting of the Small Business Capital Formation Advisory Committee at 10 a.m. … Senate Finance holds a hearing on the nominations of Jonathan McKernan to be Treasury undersecretary and Alex Adams to be assistant Health and Human Services secretary for family support … Wednesday … House Financial Services has a second markup hearing scheduled for 10 a.m. … Senate Banking holds a markup to vote on the nominations of Ben DeMarzo to be assistant HUD secretary; Craig Trainor to be assistant HUD secretary; Jovan Jovanovic to be chairman of the Export-Import Bank; Francis Brooke to be assistant Treasury secretary; and David Peters to be assistant Commerce secretary at 10:30 a.m. … Thursday … New home sales data for June is out at 10 a.m. …. House Financial Services ranking member Maxine Waters (D-Calif.) speaks at a Brookings Institution event at 11:30 a.m. … Friday … The House Ways and Means Committee holds a field hearing on 'The One, Big, Beautiful Bill Delivering for American Economy' at 1 p.m. in Las Vegas In his ear — The WSJ's Brian Schwartz and Nick Timiraos reported over the weekend that Treasury Secretary Scott Bessent has been making the case to Trump that he should not try to fire Powell, citing political and legal obstacles as well as the turmoil that action could unleash in markets. — Trump, who's suing the Journal over its report on a birthday missive he allegedly wrote to disgraced financier Jeffrey Epstein, was not happy with the article. 'Nobody had to explain that to me,' he posted on Truth Social on Sunday. 'I know better than anybody what's good for the Market, and what's good for the U.S.A. If it weren't for me, the Market wouldn't be at Record Highs right now, it probably would have CRASHED! So, get your information CORRECT. People don't explain to me, I explain to them!' First in MM: Warren hammers Pulte — Federal Housing Finance Agency Director Bill Pulte has been one of Trump's biggest attack dogs with regard to Powell and has been pushing for the Fed chair's ouster for weeks. The FHFA chief's unusual social media presence — he's repeatedly suggested that Powell will resign — led Massachusetts Sen. Elizabeth Warren on Sunday to send a letter demanding more information about his X usage, his focus on Powell and his work at the housing agency. [Link: ] 'Your prolific activity on X and apparent decision to take time away from your duties as FHFA Director to draft a letter for President Trump to fire Chair Powell are abnormal,' Warren, the top Democrat on Senate Banking, wrote to Pulte. 'Your behavior raises significant questions about your judgment and commitment to operating FHFA in a responsible, competent, and lawful manner.' The FHFA did not respond to a request for comment. In the books— Trump on Friday signed the first major congressional overhaul of cryptocurrency rules into law, Jasper Goodman reports. The GENIUS Act creates bespoke rules for dollar-pegged stablecoins. — And as Declan Harty writes, the new law 'could clear the way for Americans to view crypto as not just a speculative investment but as a lightning-fast way to conduct transactions by circumventing traditional financial players like credit-card intermediaries.' At the regulators Warning — Outgoing Public Company Accounting Oversight Board Chair Erica Williams told Declan that the SEC's shakeup of the industry watchdog is coming as market volatility and a tight economy necessitate strict oversight of companies' audits. 'History tells us what happens when the economy is tight: People cook the books,' she said. Banks v. crypto — The banking lobby is urging the Office of the Comptroller of the Currency to hold off on applications by multiple crypto firms seeking national charters, Victoria Guida reports. In The Economy The grocery economy — The GOP megabill's cuts to the Supplemental Nutrition Assistance Program are poised to devastate independent grocery stores that are concentrated in Trump-friendly low-income communities, Rachel Shin reports. Dissent incoming? — In an interview with Bloomberg TV on Friday, Fed Gov. Christopher Waller hinted that he might dissent if his fellow central bank policymakers move to hold rates steady when they meet next week. Waller has argued that a slowdown in private sector hiring necessitates a cut. What a pisser — Per The Washington Post's David Lynch: 'The tariffs imposed to date also have had some presumably unintended effects. The U.S., for example, is now more dependent upon Russia for urea, a common fertilizer used to grow crops such as wheat, corn and rice.' Wall Street What's the bet? — The possibility that Trump may attempt to fire Powell has created a new trade for Wall Street investors. Here's a big one, per Bloomberg's Ye Xie: 'Buy two-year Treasuries and sell US 10-year notes.' 'Woke' political risk — Trump threatened to block a deal that would allow the NFL's Washington Commanders to build a new stadium in DC 'if they don't change the name back to the original 'Washington Redskins,'' POLITICO's Cheyanne Daniels reports. The team's owner Josh Harris — a co-founder of the private credit behemoth Apollo Global Management — said in February that the team wouldn't be changing its name anytime soon. 'Anti-woke' political risk — The NYT's Mike Isaac and Ryan Mac have a story about how the Silicon Valley venture powerhouse Sequoia Capital is facing blowback from partner Shaun Maguire's ultra-MAGA social media presence. Maguire's recent X post claiming that New York City mayoral candidate Zohran Mamdani is lying to advance 'his Islamist agenda' has been blasted by tech industry participants for being Islamophobic. Jobs report Wharton professor Christina Parajon Skinner, a former legal counsel at the Bank of England, has joined Treasury as a deputy assistant secretary for the Financial Stability Oversight Council, according to her LinkedIn.
