Free Republic

Chancellor Friedrich Merz has admitted that Germany has been 'living beyond its means for years' with experts now warning that the country could face ruin without economic reforms. The conservative German leader has caused uproar after declaring that the country could no longer afford the cost of its pensions system, which has soared to more than 31 per cent of GDP - one of the highest levels in Europe. Merz also warned of a 'profound epochal break' and the need for 'painful' austerity measures to guarantee that young Germans would have any future prospects. Economic adviser Marcel Fratzscher, who also...

Australia’s cattle industry is experiencing a significant boost in exports to China as US beef shipments have ground to a halt amid escalating trade tensions between the world’s two largest economies. The US’ $2.5 billion beef trade to China has effectively ceased after about 300 abattoirs failed to have their export licenses renewed, creating an unexpected opportunity for Australian producers. Statistics from Meat and Livestock Australia show Australian grain-fed beef exports to China have surged nearly 40% in February and March compared to the same period last year, with 21,886 tonnes shipped during those months. “Australia is now the lone...