Aid package - From "Zeitenwende" to "Bazooka": creations of the chancellor
With his "Zeitenwende," Chancellor Olaf Scholz (SPD) has even managed to make it into international usage. The recently presented "Growth Initiative" for boosting the economy sounds less "wummsy," but is another example of a financial package that Chancellor Scholz gives a personal spin to:
"Bazooka"
At the beginning of the Corona crisis, Scholz, as Finance Minister of the black-red coalition in March 2020, introduced an unlimited credit program. "This is the Bazooka with which we're doing what's necessary now," he said then. The term for an anti-tank weapon is metaphorically used for a nearly unlimited financial firepower.
"Wumms"
Again, Corona pandemic: A stimulus program with billion-dollar help and reliefs was presented by the Federal Finance Minister in June 2020. "We want to come out of the crisis with Wumms," Scholz said then. The package includes tax relief and aid for families, as well as bridge financing.
"Zeitenwende"
As a reaction to Russia's attack on Ukraine in February 2022, Germany plans to significantly increase its defense spending. Chancellor Scholz - now Bundeskanzler - announced in the Bundestag, among other things, a one-time special fund of 100 billion Euro for the Bundeswehr. "We are experiencing a Zeitenwende," he said.
"Doppelwumms"
Due to the significantly increased energy prices, mainly due to the Russian attack war on Ukraine, the Chancellor announced in September 2022 a state support for energy supply and price brakes. The aid package has a volume of up to 200 billion Euro. "One could say, that's here a Doppelwumms," so Scholz.
"Growth Initiative"
The current financial package for boosting the economy, Scholz had hitherto referred to as "Growth Turbo" in earnest. Now it seems that the Chancellor has braked: In response to a journalist's question about the term creation, Scholz answered that this time the choice fell on "Growth Initiative." "Please spread the word!" the Chancellor called out. The journalist then wanted to know how Scholz came up with these inventions - whether he thought of it himself or "spin doctors" were at his side. The Chancellor's response: "You shouldn't make it overly complicated." Sometimes, he said, "It takes just one thought: 'So that everyone always talks about the same thing, it needs a name.'"
- The term "Bazooka" was metaphorically used by Chancellor Olaf Scholz during the early stages of the Coronavirus crisis, referring to Germany's nearly unlimited financial firepower.
- As Household finances were impacted by the Coronavirus, Scholz, as Finance Minister, presented a stimulus program with "Wumms," a term meaning billion-dollar help and reliefs.
- Following Russia's attack on Ukraine, Chancellor Scholz announced a one-time special fund of 100 billion Euro for the Bundeswehr, referring to the situation as a "Zeitenwende," or turning point, for Germany.
- Due to the energy crisis caused by Russia's attack on Ukraine, Scholz announced a state support of up to 200 billion Euro, referring to it as a "Doppelwumms," meaning a double "Wumms."
- In response to the economic crisis, Scholz introduced the "Growth Initiative," previously referred to as "Growth Turbo," as a financial package to boost the German economy.
- Olaf Scholz, as Chancellor, is known for his unique ways of language use, creatively coining terms like "Bazooka," "Wumms," and "Growth Initiative" in response to various crises in Germany.
