IfW-President: German fiscal policy is a "security risk for Europe"
The President of the Kiel Institute for the World Economy (IfW), Moritz Schularick, is urging the German government to allocate significantly more money for security and defense - while also criticizing the coalition's budget compromise. "The German government is currently not making sensible fiscal policy for what the country needs," Schularick stated in an interview with t-online. "Much more than that: Fiscal policy remains a security risk for Europe." A future special fund for the Bundeswehr must "significantly larger than the current one with its size of 100 billion Euro," Schularick added. "To close the budget gap in the next ten years, we are probably talking about a volume of 250 to 300 billion Euro."
And even then, it's clear: "Even with all these additional expenditures, Germany would still be spending proportionally less for the military than countries like Poland, Norway, or the USA, which have not reduced their investments to the same extent in the past two decades," the economist continued. "Overall, we would need expenditures of 3 to 3.5 percent of Gross Domestic Product to deter Putin's Russia through 'strength and determination,'" Schularick said.
09:15 Thiele on the Situation in Donetsk: Ukraine will "inevitably" lose the region Ukrainian forces are currently under heavy pressure from Russian attacks in the Donetsk region. Military expert Ralf Thiele sees no chance for Ukraine to hold the region Donetsk in the future. The Russians are "making progress inch by inch" and the Ukrainians are on the retreat. The region is "inevitably lost for Ukraine," Thiele said on ntv. "That's unfortunately sad when you have to say that," the military expert added. Donetsk is either on the negotiation track for "a ceasefire on equal terms" or on the "real track" to surrender. That means, either there will be talks about "a ceasefire or a surrender ceasefire," Thiele explained. In both cases, the region "will ultimately be lost," Thiele concluded.
08:52 Ukraine reports 1180 Russian casualties in one dayRussia has lost approximately 574,690 soldiers in Ukraine between February 24, 2022, and July 27, 2024, according to Ukrainian calculations. Among them were 1180 fatalities or injuries in the past 24 hours. The Ukrainian General Staff reported this in its daily update on Facebook. In addition, Russian losses were recorded: 8344 tanks, 16,095 armored combat vehicles, 15,936 artillery systems, 11,270 multiple rocket launchers, 906 air defense systems, and 2,405 missile systems. The Russian army has also lost 363 combat aircraft, 326 helicopters, 12,766 tactical unmanned aerial systems, 28 warships/cutters, 1 submarine, 21,572 vehicles and tank trucks, and 2,671 pieces of special equipment since the beginning of their offensive war.
08:00 Kursk: Fire in Tank Depot Under ControlA Ukrainian drone attack has set a tank depot in the Kursk region on fire, according to local Russian authorities. The fire, however, has been brought under control, Governor Alexei Smirnov writes on Telegram. No injuries have been reported, he adds.
07:44 TASS: Russians destroy Howitzer and Ukrainian munitions depot in Cherson regionRussian paratrooper drones destroy a Howitzer M-777 and a munitions depot of the Ukrainian armed forces on the western bank of the Dnieper River in the Cherson region. The state Russian news agency TASS reports this, citing the Russian Defense Ministry. After the drones were launched, the armor-piercing shells penetrated the front line along the riverbank. At the same time, a reconnaissance drone identified as targets a 155-mm Howitzer M-777 and a field munitions depot for field artillery. A direct hit destroyed the field munitions depot and disabled the Howitzer, the statement says.
07:11 Ukrainian Minister: Olympics Participation is "Our Victory"The Ukrainian delegation's participation in the Olympics is seen as a powerful symbol and an opportunity by Sports Minister Vadym Hydyma to draw international attention to the situation in the country following the start of the Russian armed attack on Ukraine. "It's a symbolic act and a sign that Ukraine is a strong country with resilient people," Hydyma said at the opening of the Ukrainian house in Paris. It's important that Russia is represented in Paris by a small team of only 15 neutral athletes. Russia as a nation was expelled from the Olympics by the International Olympic Committee due to the armed attack. "There's no Russian flag here. There's only the Ukrainian flag. That's our victory," Hydyma said.
The Olympic team's task is to "bring the international community together in support of Ukraine and to speak to people who normally don't listen to politicians." The participation is a "strong signal that Ukraine not only survived but also has the will to win."
06:58 Russia reports shooting down seven Ukrainian dronesThe Russian air defense shoots down seven Ukrainian drones, according to Russian Defense Ministry statements on Telegram. Five were shot down over the Belgorod region and two over the Kursk region.
06:36 Governor: Depot in Kursk on fire after drone attackIn the night, a fire breaks out in the Kursk region of Russia due to a drone attack. In a tank depot and several areas, fires have started, Kursk Governor Alexei Smirnov reports on Telegram and the Baza channel. The air defense forces are "on alert," the Russian official writes and urges the region's residents to "stay alert." In the region, at least two fires have broken out, one in the Medvenka district and one in the Kursk district, he says. A fire is reported in the village of Polyova's oil depot, according to the Shot Telegram channel. Witnesses report hearing "several strong explosions" near the oil depot at night. Additionally, a house in the Medva district is on fire, and an explosion occurred in the city of Sudzha, the reports say. Before the explosions, witnesses heard the characteristic sound of a drone flying overhead. After the explosions, they reported seeing heavy smoke in the sky.
05:41 Linnemann questions welfare benefits for UkrainiansCDU General Secretary Carsten Linnemann questions the welfare benefits for displaced Ukrainian women and men in an interview with Funke newspapers. "We need to discuss why more than 50 percent of Ukrainians work in many European countries, but only 25 percent in Germany", he says. "There are clearly missing incentives for quick employment". Ukrainians also defended the freedoms of the Germans. "But if there is a performance, it comes with a counter-performance. That includes taking up a job."
04:49 Ukraine: Over 75 percent of wounded soldiers return to dutyAccording to the deputy defense minister of Ukraine, Natalia Kalmykova, the percentage of soldiers who return to duty after rehabilitation in Ukraine is very high. "We have a very high percentage of high-quality rehabilitation programs and returnees to duty. This is also confirmed by our western partners", she says, according to the Interfax news agency. Kalmykova speaks of over 75 percent of the wounded.
03:13 ISW: Ukrainian forces retake positions near ToretskAccording to the Institute for War Studies (ISW), Ukrainian forces have reportedly retaken lost positions near Toretsk, north of Donetsk. Geolocated images show this. The Russian side is said to have continued its offensive operations in the area.
01:08 Ukraine reports several dead after Russian shelling - including a childAccording to Ukrainian authorities, at least five civilians were killed in Russian attacks in different regions of Ukraine yesterday. In the region of Kherson, there were three deaths. In the northeastern border region of Sumy, a 14-year-old boy was killed and 12 others were injured by a rocket attack on the town of Hluchiw. In the region of Kharkiv, a man was killed by Russian fire in a residential building.
23:46 Russia reports capture of another village in UkraineRussia has reportedly taken control of another village in eastern Ukraine. The village of Losuwatske in the Donezk region is "liberated", according to the Russian Defense Ministry in its daily report. It is located about 25 kilometers east of the city of Pokrowsk in the area of the Russian-occupied town of Ocheretyne, where the Russian army has made relatively quick advances in recent months. Ukraine confirms the capture.
22:23 Blinken threatens China with "measures" over continued support for Russian defense industryUS Secretary of State Antony Blinken warned China that the United States would take "measures" if Beijing continued to support Russia's defense industry. This was reported by the Ukrainian newspaper "Kyiv Independent" quoting Matthew Miller, spokesman for the US State Department. Blinken met with Chinese Foreign Minister Wang Yi in Laos, shortly after his Ukrainian counterpart Dmytro Kuleba held talks with him in Guangzhou during his first China visit since the war broke out. "The minister reaffirmed his serious concerns over China's support for the People's Republic of China's defense industrial base and made it clear that the United States would continue to take appropriate measures if China did not act against this threat to European security", Miller said.
- Moritz Schularick, the President of the Kiel Institute for the World Economy, suggested that Germany should increase its military spending to deter 'Putin's Russia', citing countries like Poland, Norway, and the USA as examples.
- The Ukrainian General Staff reported 1180 Russian military casualties in a single day, including fatalities and injuries.
- Volodymyr Zelensky, the President of Ukraine, urged NATO to provide more assistance in the ongoing Ukraine-Conflict, stating that Ukraine is under attack by Russia.
- In response to the Russian attack on Ukraine, there have been numerous instances of cyberwar, with Ukrainian officials reporting cyber attacks on various critical infrastructure.
- The conflict between Russia and Ukraine has led to tensions between Russia and NATO, with NATO members providing military aid and support to Ukraine in its fight against Russian aggression.
