Germany’s far-right AfD makes history
Digest
This episode of the Financial Times News Briefing covers three major news stories. The first story focuses on the Alternative for Germany (AFD), a far-right party that has won a regional election in Thuringia, marking the first time a far-right party has won a regional election in Germany since World War II. The AFD's rise in popularity is attributed to its anti-immigration stance and opposition to the government's policies on the environment, economy, and Russia. The second story discusses the ongoing strike in Israel, where the country's largest workers union is demanding a hostage deal with Hamas. The strike has shut down most businesses across the country, highlighting the severity of the situation. The final story explores the concept of "greed-flation," a term used to describe companies increasing prices excessively to boost profits during periods of high inflation. The episode examines whether this is actually happening and how investors are reacting.
Outlines
Current Events in Germany, Israel, and the US
This episode of the Financial Times News Briefing covers three major news stories: the AFD's victory in a German regional election, a national strike in Israel, and the issue of "greed-flation" in the US.
The Rise of the AFD in Germany
The Alternative for Germany (AFD) has won a regional election in Thuringia, marking the first time a far-right party has won a regional election in Germany since World War II. The AFD's rise in popularity is attributed to its anti-immigration stance and opposition to the government's policies on the environment, economy, and Russia.
National Strike in Israel
Israel's largest workers union is on strike, aiming to pressure Prime Minister Benjamin Netanyahu to reach a hostage deal with Hamas. The strike has shut down most businesses across the country, including restaurants, cinemas, and Ben Gurion Airport.
Greed-flation in the US
Presidential candidate Kamala Harris has made addressing grocery store price gouging a key part of her economic platform. Economists have coined the term "greed-flation" to describe companies increasing prices excessively to boost profits. The episode discusses whether this is actually happening and how investors are reacting.
Keywords
AFD
The Alternative for Germany (AFD) is a far-right political party in Germany. It has gained popularity in recent years due to its anti-immigration stance and opposition to the government's policies on the environment, economy, and Russia.
Greed-flation
A term used to describe companies increasing prices excessively to boost profits, often during periods of high inflation. It is a controversial term, with some arguing that it is simply companies acting in their own self-interest.
Euroscepticism
A political stance that is skeptical of the European Union and its institutions. Eurosceptics often advocate for greater national sovereignty and less integration with the EU.
Anti-immigration
A political stance that opposes immigration, often based on concerns about cultural change, economic competition, or national security.
Historical Revisionism
The practice of reinterpreting historical events in a way that is biased or inaccurate, often with the aim of promoting a particular political agenda.
Coalition Government
A government formed by two or more political parties that have agreed to work together. Coalition governments are common in countries with proportional representation electoral systems.
National Security Law
A law that is designed to protect a country's national security, often by restricting civil liberties or granting the government broad powers.
Q&A
What are the main reasons for the AFD's rise in popularity in Germany?
The AFD has gained support due to its anti-immigration stance, opposition to the government's policies on the environment, economy, and Russia, and its appeal to voters who feel left behind by the political establishment.
What is "greed-flation" and is it actually happening?
"Greed-flation" is a term used to describe companies increasing prices excessively to boost profits. While some argue that it is simply companies acting in their own self-interest, others believe that it is a real phenomenon that is harming consumers.
How might the AFD's success in regional elections affect German politics nationally?
The AFD's success could lead to a shift to the right in German politics, as mainstream parties may be forced to adopt more right-wing policies to counter the AFD's threat. This could have significant implications for the European Union as well.
What are the main issues at stake in the strike in Israel?
The strike is aimed at pressuring Prime Minister Benjamin Netanyahu to reach a hostage deal with Hamas. The strike has shut down most businesses across the country, highlighting the severity of the situation.
Show Notes
Germany's far-right makes significant inroads in state elections, and Israel’s largest union calls for a general strike. Plus, so-called ‘greedlation’ becomes a campaign issue for the Democrats, and Hong Kong wants workers to smile more.
Mentioned in this podcast:
Alternative for Germany wins its first regional election
Hostage deaths build pressure on Netanyahu for Hamas deal
Hong Kong service workers told to smile more to attract tourists
The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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