Germany’s “debt clock”, which is run by tax lobbyists to shame the government into fiscal discipline, is running backwards for the first time in its 22-year history.
Displayed prominently in Berlin, the clock now shows public coffers moving into the black at a rate of €78 per second.
Granted, at the current rate of decline, it would take more than 800 years to bring the total debt of €2 trillion down to zero.
But the Federation of German Taxpayers (BdSt), the group that set up the digital clock, nonetheless hailed the turnaround as a good sign for Europe's biggest economy.
Its president Reiner Holznagel said: "Only recently the federal and state governments bore responsibility for this policy of piling up debt."
"This policy that harms future generations has fortunately now been stopped."
Debt levels have in fact been falling since 2013 to around €23,827 per person now.
But Mr Holznagel said the effect would only be reflected in national and regional budgets from this year.
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Read more:
They call her 'Mummy' and she has looked after them well, but Germany is starting to dislike Angela Merkel
German SPD to start talks with Merkel next week if members agree
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The BdSt set up the clock at the entrance to its central Berlin headquarters in 1995.
German Chancellor Angela Merkel and her former finance minister Wolfgang Schaeuble enshrined balancing the books at the heart of their programme from 2014.
In fact, the country has in recent years booked budget surpluses running into billions.
The bonanza is expected to continue over the four years ahead to the tune of €30 billion according to Peter Altmaier, the man now running the finance ministry.
As coalition talks with the Social Democrats get under way, politicians see the cash as an opportunity to lavish gifts on their bases in the form of tax cuts, higher spending or public investments.
With debt at 68.1 per cent of gross domestic product, Germany is one of the few EU members that approach the 60-per cent limit set in the Treaty of Maastricht, along with Lithuania, Estonia, Luxembourg, Finland and the Netherlands.
Meanwhile, France and Spain remain in the European Commission's sights for annual budget deficits above 3 per cent of GDP per year, meaning they are building up debt too fast under EU rules.
In theory, both nations could face fines from Brussels if they fail to tighten the purse strings - although the Commission has never levied such a punishment, even on repeat budget sinners.
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
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SPECS%3A%20Polestar%203
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IPL 2018 FINAL
Sunrisers Hyderabad 178-6 (20 ovs)
Chennai Super Kings 181-2 (18.3 ovs)
Chennai win by eight wickets
Madrid Open schedule
Men's semi-finals
Novak Djokovic (1) v Dominic Thiem (5) from 6pm
Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm
Women's final
Simona Halep (3) v Kiki Bertens (7) from 8.30pm
US Industrial Market figures, Q1 2017
Vacancy Rate 5.4%
Markets With Positive Absorption 85.7 per cent
New Supply 55 million sq ft
New Supply to Inventory 0.4 per cent
Under Construction 198.2 million sq ft
(Source: Colliers)
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Confirmed%20bouts%20(more%20to%20be%20added)
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Match info
Manchester United 1
Fred (18')
Wolves 1
Moutinho (53')
Rebel%20Moon%20%E2%80%93%20Part%20Two%3A%20The%20Scargiver%20review%20
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COMPANY%20PROFILE
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Surianah's top five jazz artists
Billie Holliday: for the burn and also the way she told stories.
Thelonius Monk: for his earnestness.
Duke Ellington: for his edge and spirituality.
Louis Armstrong: his legacy is undeniable. He is considered as one of the most revolutionary and influential musicians.
Terence Blanchard: very political - a lot of jazz musicians are making protest music right now.
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
Film: In Syria
Dir: Philippe Van Leeuw
Starring: Hiam Abbass, Diamand Bo Abboud, Mohsen Abbas and Juliette Navis
Verdict: Four stars
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
COMPANY%20PROFILE
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MATCH INFO
Uefa Champioons League semi-final, first leg:
Liverpool 5
Salah (35', 45 1'), Mane (56'), Firmino (61', 68')
Roma 2
Dzeko (81'), Perotti (85' pen)
Second leg: May 2, Stadio Olimpico, Rome
MATCH INFO
Champions League quarter-final, first leg
Manchester United v Barcelona, Wednesday, 11pm (UAE)
Match on BeIN Sports
Company%20Profile
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Common%20symptoms%20of%20MS
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England squad
Joe Root (captain), Alastair Cook, Keaton Jennings, Gary Ballance, Jonny Bairstow (wicketkeeper), Ben Stokes (vice-captain), Moeen Ali, Liam Dawson, Toby Roland-Jones, Stuart Broad, Mark Wood, James Anderson.
TICKETS
Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.
The%20specs
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What is Diwali?
The Hindu festival is at once a celebration of the autumn harvest and the triumph of good over evil, as outlined in the Ramayana.
According to the Sanskrit epic, penned by the sage Valmiki, Diwali marks the time that the exiled king Rama – a mortal with superhuman powers – returned home to the city of Ayodhya with his wife Sita and brother Lakshman, after vanquishing the 10-headed demon Ravana and conquering his kingdom of Lanka. The people of Ayodhya are believed to have lit thousands of earthen lamps to illuminate the city and to guide the royal family home.
In its current iteration, Diwali is celebrated with a puja to welcome the goodness of prosperity Lakshmi (an incarnation of Sita) into the home, which is decorated with diyas (oil lamps) or fairy lights and rangoli designs with coloured powder. Fireworks light up the sky in some parts of the word, and sweetmeats are made (or bought) by most households. It is customary to get new clothes stitched, and visit friends and family to exchange gifts and greetings.
SPECS
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The%20specs
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WEST ASIA RUGBY 2017/18 SEASON ROLL OF HONOUR
Western Clubs Champions League
Winners: Abu Dhabi Harlequins
Runners up: Bahrain
Dubai Rugby Sevens
Winners: Dubai Exiles
Runners up: Jebel Ali Dragons
West Asia Premiership
Winners: Jebel Ali Dragons
Runners up: Abu Dhabi Harlequins
UAE Premiership Cup
Winners: Abu Dhabi Harlequins
Runners up: Dubai Exiles
UAE Premiership
Winners: Dubai Exiles
Runners up: Abu Dhabi Harlequins
The Abu Dhabi Awards explained:
What are the awards? They honour anyone who has made a contribution to life in Abu Dhabi.
Are they open to only Emiratis? The awards are open to anyone, regardless of age or nationality, living anywhere in the world.
When do nominations close? The process concludes on December 31.
How do I nominate someone? Through the website.
When is the ceremony? The awards event will take place early next year.
COMPANY%20PROFILE
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