Report Says Germany Will Close Coal Mines by 2018
Germany will shut down its coal mines, which helped fuel the country’s
postwar economic miracle, by 2018, the Associated Press reported. Kurt Beck, head
of the Social Democrat Party, and Economy Minister Michael Glos announced that
a coalition of left and right political parties agreed to phase out heavily subsidized
coal mining in Germany by 2018. But as a compromise, the parties also agreed on
a clause that would see the decision reviewed in 2012 to ensure it was still valid
in the context of the energy situation at that time. There are currently eight
coal mines operating in Germany, employing around 33,000 people. The mines currently
receive subsidies of up to €2.5 billion ($3.2 billion) a year. An end to
the subsidies would clear the way for industrial conglomerate RAG, which owns
the mines, to float on the stock market. The money raised by a flotation would
pay miners’ pensions and the environmental cleanup costs. The phase-out
would be implemented in a way that ensured there would be no compulsory layoffs,
the ministers said.