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tv   German Finance Minister on U.S.- Europe Relations  CSPAN  April 12, 2019 12:32pm-1:38pm EDT

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conspiracy requires an agreement. what seems to be missing is the russians and the trump campaign saying, hey, let's get together and make this election work for trump. that agreement did not -- there is not evidence of that particular agreement. it does not mean that there is quidvidence of particular pro quo that would bear on the broader question of whether this esident should stay in office, but the bigger question is, what to do in 2020? there is two pieces here. >> we will leave this here to go live to the peterson institute forinternational economics conversation with the german finance minister and vice chancellor on europe-u.s. relations. of us have personal ties to germany and have worked
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in germany and worked with german officials. , the weatherstone was in the economy ministry recently. but it is a special treat for us a senior german official reaches across the atlantic and reaches out to our audience and to give us an understanding of where they see the world going and where the world should go. be not we are going to completely satisfied but definitely stimulated and urged ford by his vision. has beencellor scholz the federal minister of finance for roughly a year now. he is been acting chairman of the socialist democratic party for this last year.
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served in aars, he role, and he was vice chair of to 2011. from 2009 importantly, he was also federal minister of labour and social affairs in the previous government from 2007-2009, and as i was reminded during that period in the early days of the germany undertook a set of labor market programs which orkame referred to as short w in german. when i was sitting at the bank of england, we were trying to figure out how we could emulate this and none of us successfully did, but it was a brilliant step forward in terms of flexible fiscal and labor market priorities.
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we will hear from the minister today. may i invite to our stage olaf scholz. [applause] scholz: thank you for inviting me. looking at all of you, i have decided that i will shorten my and thenlittle bit we'll have a better chance to discuss with each other. i think it makes a lot of sense. it is a pleasure to be with you in washington and at a time when rules are increasingly under the key day on the multilateral calendar. my colleagues an
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opportunity to talk about the state of the global economy and potential risks and opportunities that call for coordinated action. of course, we discussed britain 's exit from the eu. brexit will cause disruption to mitigate the fallout from the andal economy, we, the eu its member states have put together precautionary measures and will continue to deal with the situation as it evolves. i am very happy that there has been a postponed decision and there is more time forgetting something that is a solution. i think the british system is very much influenced by the idea of having no bipartisan corporation. the last time they did something during the second world war, and they have started
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so far, and i think it is a question of national interest but it would not be the best or worst idea. the united states have always been a place of tabulation for many europeans. germans are no exception. my fellow social democrat from hamburg mused that if he ever had to emulate, he would probably go to america. our cultural ties and the way we view each other our common values have undoubtedly played a part in forging the transatlantic partnership. we have a unique relationship that goes beyond cooperation based merely on self-interest. the transatlantic friendship restrictedways temporary inferences of opinion because it is built on a foundation. thecracy, the rule of law,
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freedom of the individual, the market economy, and social welfare. although, we may have different views of how to best balance those last two concepts. politicalhe philosophy that democracy means more than majority rule and that it requires the protection of legitimate interests and excitations of minorities. minorities matter. americans and europeans agree that the society is made up of active and responsible citizens, and not just of economic actors. we know that democracy is about benefiting society as a whole and promoting its priority. it is not about favoring particular groups are making decisions on the basis of the quid pro quo. i believe perhaps a transaction approach runs counter to our shared core values.
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create truet partnership. , in ordernal politics to win someone, someone has to lose -- but instead, everyone would lose in the wrong run. beurity and stability cannot built on the insecurity and instability of another party. true stable partnership is based on common values and the common goals that they create. our differences, we europeans and americans tend to end up on the same side of an argument in the international arena when it comes to democracy. the rule of law, or the freedom of the press. we may often make the case for democratic principles out of a sense of morality, but this is strategic and economic policy as firmly am
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convinced of that. applying this to the field of international relations pays off in the long run by increasing economic and political stability and fostering sustainable growth. so, the comprehensive, strategic view must go beyond security policy. the question of geopolitical interest in china's ambition for economic and technological leadership. china's reemergence has lifted millions from poverty and driven global growth. at the same time, we must acknowledge that he has shifted the global balance of power. itthis realization, must not lead us to knee-jerk
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reactions that may damage the global economy. protectionism is not the answer. consider deals that would undermine our economic framework. u.s.fore, europe and the need to engage constructively with china, ideally and a coordinated manner as transatlantic partners. tradet safeguard fair practices in order for to be a level playing field. that requires a clear view and clear action. we should also make sure in our efforts to protect the integrity of marketing principles, we do not end up doing more harm than good by turning against each other on the basis of shortsighted, nationalistic arguments. trade, andgentlemen, not just in the context of china, is a good example of the policy area where the united states and europe should be natural partners by virtue of our shared values.
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the trade that negotiations tend to be negotiated by economic interests, size, and buying power, and i am under no delusion that the trade talks could be an exception to the rule. the trade disputes are attested to the robustness of our trading relationship. and eu havetates been advocates of an open and fair trade. i believe this is a matter of principle. it is not just about achieving some short economic gain. it is not about the art of the deal. u.s.fore, the eu and the should treat the current dispute as a priority and aim for a more open trading relationship. we should work together to strengthen the multilateral trading system which would serve both u.s. and eu strategic
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although the idea may be hard for some in washington and europe. our joint efforts should include serious intentions for international labor and environmental standards. they are not just meant to ensure a level playing field. trade practices are also meant to protect human rights. if we want a sustainable growth part for the global economy, we distribution of the prophets of globalization both internationally and domestically. of globalization both internationally and ms -- and domestically. germany, a lot has been done including a strong increase in public investment as well as significant growth in wages and private transactions.
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centering the trade debate on a single number is a useless attempt. rather, we should focus on the measure that is necessary to promote open and fair trade. permit brings me to permitsissue of brings me to the global issue. -- and in favor of tax regimes with the aim of avoiding taxes altogether or eliminating the tax problem presents us with a problem. the tax system has to be applied uniformly not just businesses that are expecting to engage in tax avoidance. attempts,nternational but something has to be done. building on the progress that
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has already been made through the initiatives of erosion and profit shifting is underway to reform the global tech system. approaches, but in this debate, i am a strong advocate of an international minimum corporate taxation. this idea is not about doing away with tax competition completely, but rather about establishing a framework to taxent harmful bumping. remainifficult decisions , i am confident that we will be able to agree on a plan by 2020 that will include minimum fixation. germany isr, working to move the discussion forward. ultimately must ensure that everyone makes a fair publicution to financing
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smartso providing in a and efficient manner. corporation is an important factor in achieving this. are manyropeans, there european public works that can be better provided to the eu. yet, some questions ultimately require a global approach and in these cases, coordinated -- europe-u.s. efforts. however, united states might not be on the same page as europe in globalarts of the community regarding these questions yet. one of the most important examples of how intentionally european corporation is an supplying the public good is a question of security.
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debated and i am not going to avoid it. we have been heading in the right direction in a move that led to the u.s. taking steps to strengthen capacities. we already do spend more money. germany has increased its defense budget by over 15% compared to 2017. major change does not happen overnight. and with the argument heavily quotas, perhaps the issue is another example of a single number distracting the debates from the fundamentals at stake. we should focus on smart ways to increase our capabilities. the most efficient way to furtheren defense is to improve european collaboration with regards to the development and procurement of military
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systems and regards to operations. progress might require some time. but concentrating our efforts rather than relying on solo --sures while defense readiness is essential, we should not underestimate the crucial importance of development international insurance and safeguarding global security and stability. this is an area where you will bring phillips to the table, and further the interest of all democracy including the u.s. ladies and gentlemen, the following holds to many areas besides security policy. in the interest of our joint various holding the democracies, we need a strong and stable european union
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side-by-side with the powerful and principled united states of america. mindful of its response ability towards the european project. we are aware that everything we do and don't do impacts our neighbors. strong and united europe is our primary concern. therefore, countering nationalists, and to, and unilateralists must be a political priority for us. they will have to be brought and stable support for doing so. germany's role needs to be that of a broker of compromises. we cannot be seen as dominating european policy and we have no desire to do so. germanle frankly situations -- the u.k. policy must balance the
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interestes. we will not allow the eu to be split into different camps. the brexit referendum would be the beginning of the dissolution of the european union, those have been proven wrong. when push comes to shove, we europeans stand together. that is why i am confident that we can reform the developed eu in the coming years. to this end, the upcoming european elections will be extremely important. just as it will be important to move past the current brexit quagmire and establish a new relationship with the united kingdom. work towardsue to making sure that european andress is a reality increasing visibility of the economic and union. we must come together for the sake of your apostle future, --
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sake of america's future. but americans realize it is vitally in their strategic interests as well. i have no doubt that the transatlantic partnership can weather its current atmospheric disturbances. in a changing world of united states and europe will be main -- remain the closes of partners. thank you. [applause] adam; thank you. minister scholz: --
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caller: thank you. thank you. a few thingsp from your marks. first, one thing that struck me and we were all grasping for something positive, your statement that we could have an international agreement on minimum corporate tax, digital taxation by next year stood out to me as something potentially very favorable. aboutyou say a bit more what kind of parameter is that would look like. and perhaps, more importantly, what would be the effect on the german and american economies, and the developing countries if we get the kind of deal you are talking about? minister scholz: we are discussing and all of the international organizations, g20, and the european
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union about the question of how we can deal with the new questions coming up to our states. it is obvious that we will not be able to serve our economy and our people if the strongest areners of this game avoiding texas. -- taxes. no one is liking to pay them, but those that can do so will have the strength to do it. i think there is an increasing understanding that this will not work. i learned very much that this is also due to the united states. we very much looked at the corporate tax reform that has been done in the u.s. one of the aspects of it was a unilateral approach on minimum taxation.
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but the decision of the united it is already did is that absolutely likely that we could consensus on the same path. this might be the reason why we get something which meant people -- many people in our country think this is something that offers a very hard future, but it will be something that we can reach very soon. someey had heard from relevant ministers that they say that might be finding a we dosus about the weight this -- about the way we do this, and this is really progress.
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to propose this to the international audience together with france, but minimum has a law of acceptance by all of the others, and there cb whereillar in the oa we discussed the question of the outcome of the debate. the second question and the second pillar in the debate and , is how we tackle the difficultf taxing economies. this is not that easy because we have an international agreement , which isng corporate necessary, and this is saying let's tax the corporate where goods are produced and where inventions are made. this is not just the case because it was invented that the
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mostas just the developed countries, but it makes sense. on the other hand, we have to it is aand that question on the global table, there is a debate, and the companies are gracing the question again. europe, having not been that globalful with platforms, there has been a debate about whether it could money but pay no tax in europe, more or less, compared to the revenues they get from activities over there. the question is, do we find a way to do it? there are proposals coming from india and china and they have proposed to take it in their
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thetries, but also all of goods and services so far. i do not think this will work because there is some sense in the way that we take corporate's today. there is a u.k. proposal that is working on your user participation which is very delicate and not really working. we have remembered the debate that we already had in europe assure that can those that are producing content get their fair share of the income. what thisunderstand will mean if you have to develop a technique, finding out where is the user contribution, so this is quite difficult. there are some others also proposed by the u.s. i think in this view, we do not have a really, good solution yet , but we have to find it and it
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will not make sense to take more years. we should find a way to tackle this this year and we can do it. adam: thank you, that was extremely comprehensive, i'd appreciate it. also along the way in your remarks, you mentioned that ,erman officials are want to do let's not spend so much time on imbalances and trade surpluses so much. and as non-german officials and non-german people are want to therewill summarize that are a lot of people who do not quite understand why germany need such a large trade surplus, and such a large fiscal surplus. and doesn't it seem to make things worse. given that we have all been through this cycle discussion many times, what is it about the reasons for the current german state of balances, fiscal and international? -- what is that
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you wish to understood that we do not understand? toister scholz: i would like share my personal ideas on that question. the first, it is about europe. we really have a change in the economy and possibly, those researchers are not anymore right then looking for the nish, swedish, portuguese, or spanish economy because we are much more a european economy as anyone thinks. in europe and outside of europe. is much morermany if you were to look at one of the states in the u.s. -- california, you would not discuss trade imbalances between california and the rest of the u.s.
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or the california and the state and new york would be one state and right at the center of the united states. this would not work. this is why my approach to european policy is we are relevant for progress and compromise and we are not a have a lot ofe citizens and economic strengths. and our ideas are always very intelligent. we should try to find out that we are relevant for compromise in the e.u. coming back to this economic question, i think it is worthwhile to follow the idea that i explained to you. there is more of a european economy than a national one and this changes the perspective of trades in balance. if you go around as a finance minister of germany and speak to different states, you will find they are talking about
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the german economy because it is critical for their development. you will find out that they understand something that possibly has nothing figured out by economic researchers. of plansa large number are coming from german companies. big ones, small and medium-sized companies. these companies as european companies and activities they too are important. -- aboute proposals the german economy is that there is not enough private investment. possibly this is the wrong view, if you understand the same companies invested quite a lot to the plant in spain or in poland or so on.
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after theyn that came together, we have a situation where there is a shortage of labor in poland and the baltic states. you have people in spain and portugal, you will find out it is much more likely you will get better results looking at this whole european economy, rather than a single countries. , they have been taking a decision by corporate's -- a company of 2000 employees being successful in the world market with three or four competitors, one possibly from japan, one might be from italy or finland or the united states.
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they met the challenge of being globally competitive. neighbors,ust their it is not exports and imports to the countries right at the border. this is the reason for the success. for when theret is slower growth in the global economy, we will have a slower growth in germany because we cannot avoid it. you should understand there is one thing with the german economy that many people view that researchers are not happy with the idea but there are some that are making schedules to say we put together exports and imports. we have them. look at the different countries. and then you will find out the
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germany is not just a big exporter, but also one of the biggest importers in the global economy. this links to gather different economic model to many other countries. links together different economic model to many other countries. adam: let me move on from that. in the spirit of your remarks about germany not being the central player that demands everything, and you want compromise, and you want a functioning kind of unified european economy. there is a whole list of things other than figures, there are policies and institutions that have been put forth, there are issues of, could we get a european deposit insurance? could we get a european a safe asset? you have made some stabs to
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expand european fiscal capacity, but maybe there should be more. explainsking you to something to us who might have a false perception, the perception seems to be that germany is, not entirely but for the most part, not accepting both puzzles to further integrate europe. agenda the alternative on the economic front that germany would have, or by misunderstanding? are these proposals you might accept? i could askolz: what proposals you are speaking about. adam: i can cite them very specifically, if you would like. minister scholz: we should understand that we made a lot of progress, which has not been
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realized. even in thenot european public. after the last crisis, we built a lot of institutions that are able to act, which they would not have during the crisis in 2008, following the lehman brothers bankruptcy. we built authorities, which is looking at more than 200 is 80%n banks, and this of balance sheets of european banks. it is relevant. taxpayer money, there are not more questions when there is a crisis. we now decided, and i worked very hard to get this a solution, that this front will have a backstop by the european
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mechanism, something like a european military front. it has the capacity to lend euros to savelion a country. successful helping spain and others. realized the biggest support for a single country losing contact with the financial markets was the program of the europeans for greece. it was not the bigger countries that got support from the imf. there is some stability and strength and european solidarity . it shows we are able and capable to do something. now we decided this should be a backstop for the bank fund. it is much more stability we have now. this year, we agreed to 12
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different regulations on therapy level, which is progress because i think in the years before it was three or four. we are working very much. my view on the banking union is we already built the house, but even the woodwork is done with a roof. are the questions on the table you are speaking about. state ais we have to this is and understand doneomething which will be in doing one step or the other, or something that is part of a necessarily bigger picture. my idea is let us look to the united states. let us understand why the ftse is working well. fdic is working well.
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you need european supervision. we need something that is -- in a city we never heard about in europe. it must be under the control of someone in europe if you want to have a common activity of saving them. idea that you can have the advantages of corporation but do not cooperate, which in this case means european governance is needed. without making a complete proposal because we are working very hard on thinking this through, i believe it is necessary that we understand in a way this will not work. that weto understand have to make it feasible that the financial market is working
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the same way that it is in the u.s., otherwise it will not work. adam: i completely agree with that. let me, if i could, ask you one more question for turning it over to our audience. topic which i believe, and i certainly hope, is current among you and your colleagues in the be is the issue of what will the fiscal response? , ascb president indicated many of us on the academic sidelines have indicated, we have deep concerns that the ability of any central bank to do much in the next downturn, if have alreadydy -- done a lot of qe, is probably limited. a lot of us think that fiscal
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policy is going to be needed. just to try to drive the point home, you were eloquent with your speech and i know you mean a about the need to forestall good development of nationalism and anti-european right-wing feelings in a germany, in europe, and frankly in the u.s. who aree a lot of us very concerned about the ability and willingness of europe, and therefore germany, to take fiscal action in the next downturn. can you reassure me? minister scholz: yes, i can say something about that. for instance, about the capability of germany in a tosis -- let me come back the situation where we are today. we are not in a crisis. there is no downturn. there is a slower growth. that is something completely different.
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this is what we hear from the imf, this is what we hear from all the international -- we are not now facing a situation like this. germany,ok exactly to you will find out we have a shortage of labor. people wouldn knock at the right doors of the the growth ofs, our country. we are looking for them and we are now doing legislation because the free movement of labor within the european union, smedes we have a open labor market for 450 million people, is not enough for doing what is necessary in some places. i think this is not the situation we are in.
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second, we are preparing ourselves for doing something, and especially being the biggest economy in the center of europe, and this is something we would use to affect the gdp ratio. talk to get the crisis the008 and 2009, and i told audience i was a member of the cabinet them -- then, we ratio up debt to gdp to 80%. 60 we are going down under percent. this shows we will be able to do what is needed if there is a situation where you need to do what you have to do. the third is, i think we have to concrete about what we
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can do in a crisis. anecdote,l you one when i was minister of the cabinet, we had programs to increase in germany. this was 2008-nine. the crisis was over at the end of 2009. i took office in hamburg as head of the city-state. the first thing that followed the investment support for fighting against the crisis started to happen and 2011. it is absolutely necessary that we think about something that works in a situation and my view something we should know and have on our minds, but this means we change our view on the european union quite a lot.
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claiming there is not really a transfer to those countries needing something. usre is the right telling that we should not have too many transfers to other countries. we have 80% to 90% of the public infrastructure investment in many countries in europe is financed by the e.u. crisis, andld be a we would just make it feasible that they will continue with their planned investments, this would have a big impact on economic development and this is one of the questions we should think about. we need tor hand, act within the financial framework.
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something like a fiscal capacity. there is a proposal from me and .y french colleague i think, as a politician, i would be happy to have that. i am not looking at the size. having it is something you can make more of if necessary. this is not the right thing for starting. we have to find something that is feasible. adam: thank you for being so concrete. let me open it up to the floor for questions. two ground rules. first, there is a traveling microphone upfront and a standing microphone in the back. please wait to be recognized. second, please identify yourself when asking a question, your name and affiliation. in the interest of getting as many questions in as possible, at least initially, we will take two questions at a time and then
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the minister can decide how he wants to respond. go ahead, please. i am steve, i teach at american university. i would like to ask you a political question, if you don't mind. your party has not fared well in recent elections. can you name one or two steps that your party should take in order to improve its electoral performance? here from the peterson institute. you for a defense of the airplane project. at the same time, let me ask you about rivers we have about the formation of a potential german national banking champion. that seems to be a project that runs counter to many of the
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things you spoke so eloquently about. -- does an is simple single good argument exist for that isn'ttsche bank similar to trump nationalism? adam: why does your party have such problems, and that turns out to be the nicer one. i will answerz: the one. [laughter] i think weholz: should be absolutely aware that something is going on in our rich western countries. to understand the real situation of progressive political force like the social democratic party in germany, or other progressive forces in western europe or the , if, or japan, or australia
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you look at a completely different political arena, you will find out that there is -- something happened in the beginning of the 21st century which is strange. people are moving up to the middle ground in asia and other places, and they are as optimistic as our people were in the 1950's and 1960's, in our countries, people lose confidence about the future. even when they understand their own situation, they are not that sure whether it will continue to be so in the next 10, 20 or 30 years, if they are young enough to think about questions like that. they are not understanding if it will be the same for their children and grandchildren. something to do with
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the development that is coming from globalization, which is coming from technological progress in our countries. is havingobalization a lot of growth and wealth to the countries. i think the technical progress is absently necessary, that we should use it as something that is creating more wealth for all of us. clear thatt be anyone would profit from this development. entrepreneurs, they would say there is nothing like a free lunch. if you believe you can have all this, progress, globalization, and it will be much faster going on than it was in the past, without looking at the people of your country are having a good chance to get their share of
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this wealth, and they could have a safe life, you will not succeed. right look at left and economist books, you will find in many cases a sentence and it sang -- saying we should pay money to those who are the losers of the economic game. somethingts to get for being out of the game, they want to be part of it. they want to have a chance to earn their own money, to be proud of what they do with their lives, they want to have respect. in a democratic society, we have to do something that makes it so this will happen and be the outcome of things. view, why this is so difficult. we have to have a new answers. a society that should be open to
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technical progress, open to progress, needs something like a stability and that the people understand they have the right to be a part of those who win in this development. should find a way to show we are ready to run the country. development will be much bigger. union wille european be a good story. have -- are the one guaranteeing that the social work state, the chance for having your own income by your own labor something that will be a reality for most of the people in the future. would manage this, i think
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we will get support. just to give you one more idea highestis, we have the number of people employed in germany ever. it is 45 million people working. it will increase. at the same time, the people lose confidence. if you look at the united states, you will find a similar situation. if you look at many other countries, you will find similar situations. we have to get back confidence about the future and if we do this, we will have done our job. we have a chance in the election. the second question is something where i think you understand myself as professional enough not to answer about something that is a private decision for a private company. >> i won't make a joke.
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[laughter] you for what i thought was a very inspiring speech. banking, finance and -- lessons to be taken on viable banks. about whaty inspired you said about the banking union. i think there are some promising avenues here. -- fora question for the the bank because the bank was created in 2012, with a state of objectives. that hasf the progress been achieved in banking supervision and regulation, you mentioned a vicious circle
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between banks and sovereignties. you specify or explain a bit further to us how your reforming continuing european banking sector framework will achieve the stated objective to break the vicious circle? adam: before you respond. doug.m in your remarks, -- sorry? it is on. mentioned arks, you hope that germany and europe will be able to resolve the ongoing tate intentions -- trade tensions with the u.s. i am not looking for a roadmap about how that gets resolved, but i am curious about how you would define those trade tensions?
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administrationnt decided to potentially include autos as a national security roomt, there was obviously under trade agreement prospects for improvement of trade between the united states and europe but nobody would have gone so far to define it as a trade conflict. how would you define the current trade conflict between the u.s. and europe? minister scholz: it is very difficult to say something about how we debate or the discussions about trade that are going on. trumpappy that president decide to cooperate. now we follow this path. tariffs are not creating wealth. this is my view. no one will be a winner. why should we play a game where there is no winner?
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does not matter which side we are on because both will be losers. i think this is the thing that anyone should have in mind. think the speech, i relations between the e.u. and u.s. should be always following the idea that we have common values. in the midst of this century, 10 billion people, and 350ion europeans will be just ans small part. we should understand that the world is becoming better when it, and india, and it indicia and other -- and indonesia
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regained their share of growth and wealth. we must be absolutely clear that we are working on having a world in were corporation and not domination will develop. if the key of solving the questions and where the questions of democracy and the rule of law and so on, which are relevant to the u.s. and e.u., are something we can defend and possibly has a chance to be attractive to others in the world. this is why i think is a question or we have to discuss interest. this is always the case. there is something more in the relationship between the united states and the european union and we have some common values. this should be the basis of things we do. of what will be the next step, i think it makes
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sense to understand we did a lot. nobody would have expected we -- for thea backstop big banks in europe. nobody would have expected we formed something like a european monetary fund with similar functions. this is a big development. now we established a high level working group, which is headed by the deputy ministers of spain and germany to find a solution, what will be the next steps. i think at this stage, i think it is the right way to say let's step aside and think about the situation. this is why i mentioned, it possibly makes sense to look at others who solved it in completely different circumstances. the questions that are on the table. -- this is what
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we do. but i am quitek, optimistic to find a solution. i have thought about the question already. i think establishing a working group will help achieve results. adam: thank you. question be the last given the master schedule. i am with an independent american tv network. my question is regarding china. he spoke about china in your opening remarks. we have also seen a shift of u.s. policy on china. it is starting to recognize china as an economic competitor and also as a rival. seen asame time, we have country like italy signed and ,o
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and greece joined china on the initiative. going forward, how do you see facingu acting while china's growing influence? minister scholz: this is a question that you can have a five-hour answer. let me be relatively brief. say anyone should consider the european union a factor. states,ussia, united nobody should think there is a chance of dissolution and we -- somethinggy
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like this. it is much better to understand there is a european union as a factor of the upcoming world. we have common values. we should wish that many countries grow. a world where just their opinions and that states are strong economically, is not a good world. we wish billions living in other places on our common planet will have some -- will have a better life, will have growth and things like that. on,only thing should work and we should be doing the right things and giving the right examples. it is not a question of who is dominating, it is a question of
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if there is cooperation between all the countries in the world, is it feasible? we should know that i really believe that the end of history is democracy and this is nothing -- this is something people like. wonderful note to end on. thank you you, vice chancellor. this has been a spectacular discussion. thank you for engaging with us so frankly. ladies and gentlemen, please give your thanks in the traditional manner. [applause] we wish you and your country the best in your multifaceted world of the, g20, e.u., transatlantic and multilateral. keep it up. [laughter]
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>> later on c-span, president others are speaking at the white house about the next generation of 5g wireless networks and expanding high-speed internet and irl areas. it is set for 2:25 eastern today. ♪ >> the only thing we have to fear is fear itself. what your country can do for you, ask what you can do for your country. >> and the people who knocked these buildings down will hear all of us soon. c-span's newest book, the president's, noted historians
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rank america's best and worst chief executive. it provides insight into the lives of the 44 american presidents. explore the life events that shaped our leaders, challenges they faced and the legacies they left behind. affairs, by public c-span's the presidents will be on shelves april 23. you can preorder your copy as a hardcover or e-book today at c-span.org/the presidents, or wherever books are sold. >> new jersey democratic senator cory booker officially kicks off his presidential campaign this weekend with a rally in work, where he served as mayor from 2006 two 2013. the rally is set for 1:00 saturday. you can listen with the free c-span radio app. coming up on sunday, south bend,
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indiana mayor announces his campaign for president. that is alive at 2:00 p.m. on sunday. listen with the free c-span radio app. are back to talk about the robert mueller report and the law. joining us from new york is a former attorney from the southern district of new york and partner at a law firm. here in studio with us, kimberly, a former independent counsel. kim, i want to begin with you on this question on obstruction of justice. define it for us. of an attempt to interfere with an ongoing investigation knowingly. it can be things like tampering

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