Quote of the day
Always the diplomat
Visiting Brussels for a NATO summit, the US president said Berlin was “captive to Russia,” because Germany pays the country billions of euros for energy. Chancellor Angela Merkel’s government also supports a new $11 billion gas pipeline from Russia to Germany. “It’s very sad when Germany makes a massive oil and gas deal with Russia where we’re supposed to be guarding against Russia,” he said.
Number of the day
Lies, damned lies and NATO statistics
Mr. Trump also criticized Germany for missing the NATO spending target of 2 percent of GDP. Berlin currently spends 1.2 percent on defense and this number is not expected to rise quickly. But Hans-Peter Bartels, the Bundestag parliamentarian responsible for the armed forces, suggested including infrastructure spending towards the goal. Germany, after all, needs new roads, bridges and tunnels to move the higher number of tanks and other equipment to Eastern Europe, he said. The German government is already looking into which infrastructure projects could count as defense spending. Any comment, Mr. President?
Graphic of the day
Greener and greener
The share of electricity from renewable sources, such as wind and solar power, topped that of coal for the first time in Germany during the first half of the year. Nuclear power has been declining steadily since Angela Merkel decided to phase it out in 2011 after Fukushima. Power generated by coal is also declining.
Person of the day
The rise of an online fashion king
Roman Kirsch founded an online store aged 20 and sold it for millions six months later. Now, he has raised €30 million for his online fashion shop Lesara. Founded with two other partners in 2013, the platform promises the latest clothing trends at affordable prices in 24 countries. Mr. Kirsch, now 30, persuaded US investors 3L Capital, Northzone and others to join as shareholders, bringing total investments to more than €90 million. Lesara competes with Zalando, another Berlin-based company, Otto, and, of course, Amazon. Source: