Dubai Telegraph - Boring to 'historic': the awakening of Germany's Olaf Scholz

EUR -
AED 4.400314
AFN 77.881147
ALL 96.814682
AMD 454.172547
ANG 2.144834
AOA 1098.729057
ARS 1730.745379
AUD 1.690809
AWG 2.158218
AZN 2.042821
BAM 1.959124
BBD 2.414607
BDT 146.498583
BGN 2.012185
BHD 0.451686
BIF 3551.270346
BMD 1.198178
BND 1.512786
BOB 8.284057
BRL 6.227767
BSD 1.198839
BTN 110.119313
BWP 15.686617
BYN 3.408698
BYR 23484.290754
BZD 2.411101
CAD 1.620506
CDF 2683.918435
CHF 0.917625
CLF 0.026186
CLP 1033.955485
CNY 8.33291
CNH 8.319544
COP 4397.74497
CRC 595.019577
CUC 1.198178
CUP 31.75172
CVE 110.45288
CZK 24.298095
DJF 213.48135
DKK 7.46704
DOP 75.429249
DZD 154.714803
EGP 56.109364
ERN 17.972671
ETB 186.414713
FJD 2.618439
FKP 0.869432
GBP 0.866031
GEL 3.229063
GGP 0.869432
GHS 13.103234
GIP 0.869432
GMD 87.466656
GNF 10519.982279
GTQ 9.197645
GYD 250.81559
HKD 9.348245
HNL 31.637684
HRK 7.534031
HTG 156.996396
HUF 379.901498
IDR 20117.410294
ILS 3.70231
IMP 0.869432
INR 110.191403
IQD 1570.47137
IRR 50473.252638
ISK 144.787493
JEP 0.869432
JMD 187.928883
JOD 0.849516
JPY 183.431525
KES 154.589225
KGS 104.78044
KHR 4819.23774
KMF 493.649685
KPW 1078.290613
KRW 1708.440222
KWD 0.367097
KYD 0.999099
KZT 604.037467
LAK 25827.933287
LBP 107356.012463
LKR 371.221447
LRD 221.78726
LSL 19.062325
LTL 3.537908
LVL 0.724766
LYD 7.528744
MAD 10.839493
MDL 20.104197
MGA 5349.076452
MKD 61.600431
MMK 2516.151613
MNT 4280.660921
MOP 9.634588
MRU 47.858006
MUR 54.097074
MVR 18.523892
MWK 2078.827408
MXN 20.521616
MYR 4.695675
MZN 76.395464
NAD 19.062325
NGN 1673.830778
NIO 44.115408
NOK 11.440744
NPR 176.1907
NZD 1.969217
OMR 0.460694
PAB 1.198834
PEN 4.011306
PGK 5.131772
PHP 70.569096
PKR 335.375273
PLN 4.204707
PYG 8050.626917
QAR 4.358915
RON 5.095247
RSD 117.400304
RUB 91.721686
RWF 1749.067864
SAR 4.49358
SBD 9.678495
SCR 17.176644
SDG 720.702641
SEK 10.541367
SGD 1.511975
SHP 0.898944
SLE 29.118971
SLL 25125.194783
SOS 683.960562
SRD 45.640962
STD 24799.867551
STN 24.541951
SVC 10.489843
SYP 13251.340431
SZL 19.054412
THB 37.190847
TJS 11.203157
TMT 4.193623
TND 3.428532
TOP 2.884925
TRY 52.020807
TTD 8.136841
TWD 37.52634
TZS 3043.372756
UAH 51.245655
UGX 4292.283258
USD 1.198178
UYU 45.36717
UZS 14504.672432
VES 429.518272
VND 31224.521278
VUV 143.387393
WST 3.265465
XAF 657.071937
XAG 0.010054
XAU 0.000214
XCD 3.238136
XCG 2.160575
XDR 0.817187
XOF 657.06919
XPF 119.331742
YER 285.649307
ZAR 18.761325
ZMK 10785.036009
ZMW 23.826529
ZWL 385.812859
  • SCS

    0.0200

    16.14

    +0.12%

  • RBGPF

    0.0000

    82.4

    0%

  • CMSD

    -0.0457

    24.0508

    -0.19%

  • BTI

    -0.1800

    60.16

    -0.3%

  • BCC

    -0.8900

    80.85

    -1.1%

  • GSK

    -0.7000

    50.1

    -1.4%

  • BCE

    -0.2500

    25.27

    -0.99%

  • CMSC

    -0.1000

    23.7

    -0.42%

  • RELX

    -0.9800

    37.38

    -2.62%

  • AZN

    -2.3800

    93.22

    -2.55%

  • NGG

    0.3700

    84.68

    +0.44%

  • RIO

    0.4600

    93.37

    +0.49%

  • BP

    0.0800

    37.7

    +0.21%

  • RYCEF

    -0.5500

    16.6

    -3.31%

  • VOD

    0.0700

    14.57

    +0.48%

  • JRI

    -0.6900

    12.99

    -5.31%

Boring to 'historic': the awakening of Germany's Olaf Scholz
Boring to 'historic': the awakening of Germany's Olaf Scholz

Boring to 'historic': the awakening of Germany's Olaf Scholz

Often described as predictable and "robotic", Chancellor Olaf Scholz has become emboldened since Russia's invasion of Ukraine, smashing policy taboos to steer Germany into "a new era" that could reshape its role on the world stage.

Text size:

Just a few weeks ago, German media were openly asking "where is Scholz?", slamming the Social Democrat's perceived lack of leadership on pressing issues like the coronavirus pandemic and worsening Ukraine crisis.

But Moscow's attack on Ukraine last week has jolted the chancellor into action, culminating in what commentators have called a "historic" speech on Sunday.

Scholz, who has only been in office three months, spoke with uncharacteristic clarity when he unveiled a slew of defence and foreign policy shifts that promise to upend Germany's decades-long reluctance to raising its military profile.

"The Ukraine crisis has changed the chancellor. And now he's changing our country," the top-selling Bild daily wrote.

Addressing an emergency parliamentary session, Scholz told the nation that "we are now in a new era".

In a country haunted by post-war guilt, Scholz assured Germans that they were "on the right side of history" as Ukraine's allies.

Among the headline-grabbing announcements was a pledge to earmark 100 billion euros ($113 billion) this year alone to modernise the chronically underfunded the army, called the Bundeswehr.

Scholz also said that Europe's biggest economy would commit to spending more than two percent of Germany's gross domestic product on defence annually, surpassing even NATO's target.

His coalition government had earlier already reversed a ban on sending weapons to Ukraine, and halted the Nord Stream 2 gas pipeline between Germany and Russia.

The move came as a relief to the United States and European partners, who had begun to question Berlin's resolve in standing up to Moscow.

Some observers have speculated that it was perhaps no coincidence that Russian President Vladimir Putin timed his invasion after the departure of veteran chancellor Angela Merkel.

He had built a working relationship with her based on mutual respect and a shared history of living in ex-communist East Germany.

But if he sensed weakness in Berlin while the new government found its footing, his radical actions appear to have galvanised not just Scholz, but the nation.

More than 100,000 people took to the streets in Berlin at the weekend to protest against Russia's invasion.

- Surprises -

Der Spiegel weekly, which once described Scholz as "the embodiment of boredom in politics", praised the chancellor for displaying "the leadership that had been missing in recent weeks".

"Scholz, who is often rhetorically vague, has left no doubt about his determination," Spiegel wrote.

But Scholz has surprised observers before.

As Merkel's finance minister, he suspended Germany's cherished debt brake to unleash a "bazooka" in pandemic aid, and crossed a previous red line by backing a European Union recovery package partially funded by joint borrowing.

He also came from behind to win last year's general election, staying true to his boring-but-reliable persona while avoiding the gaffes that brought down rivals from the Green party and from Merkel's conservative camp.

He now heads Germany's first-ever three-way coalition, consisting of the Social Democratic Party (SPD), the Greens and the pro-business FDP.

Scholz's policy reversals mark a turning point for his centre-left SPD, which has historically championed close ties with Russia.

- 'Naive' -

Russia's war-mongering is a "rude awakening" that has forced the SPD "to throw decades-old convictions overboard", the conservative Frankfurter Allgemeine daily wrote.

Scholz has also distanced himself from former SPD chancellor Gerhard Schroeder, whose close friendship with Putin and Russian business dealings have become an embarrassment to the party.

At the same time, Scholz's new path marks a sharp break with the commerce-driven pragmatism of the Merkel years in dealing with Russia.

Merkel's emphasis on trade and dialogue with an increasingly belligerent Moscow during her four terms in office will now be seen in a different light, political scientist Ursula Muench told AFP.

"We will no longer praise her negotiating skills, but ask whether she and her government were too naive about Putin," she said.

A.Krishnakumar--DT