Overview

• Chancellor Olaf Scholz has initiated a series of industrial summits to address the ongoing economic crisis in Germany.
• The first summit included representatives from industry associations, unions, and major companies, with subsequent meetings planned.
• Scholz aims to establish a 'Pact for the Industry' with results expected by mid-December, following the federal budget decision on November 29.
• The federal budget's approval is crucial for the continuity of the current coalition government.
• Key coalition partners were not invited to the summits, prompting separate initiatives from the Green Party and FDP.