Alexandra's Feed
Jan 28, 2014

Analysis – Turkey bank chief seen bucking Erdogan to save reeling lira

ISTANBUL (Reuters) – Torn between an angry prime minister railing against an interest rate hike and punitive markets baying for a rise, Turkish Central Bank Governor Erdem Basci seemed a model of stoic reserve on Tuesday, arguably the toughest day of his tenure.

Facing him in the morning was a front-page headline “Stand firm, don’t raise” in Yeni Safak, a paper close to the government, ahead of an emergency policy meeting on Tuesday night, called as the lira plunged to unprecedented lows.

Jan 28, 2014

Turkey bank chief seen bucking Erdogan to save reeling lira

ISTANBUL, Jan 28 (Reuters) – Torn between an angry prime
minister railing against an interest rate hike and punitive
markets baying for a rise, Turkish Central Bank Governor Erdem
Basci seemed a model of stoic reserve on Tuesday, arguably the
toughest day of his tenure.

Facing him in the morning was a front-page headline “Stand
firm, don’t raise” in Yeni Safak, a paper close to the
government, ahead of an emergency policy meeting on Tuesday
night, called as the lira plunged to unprecedented lows.

Jan 22, 2014

Insight: Europe worried as more and younger recruits join Syria battle

COLOGNE, Germany (Reuters) – Dashing to serve customers in the family restaurant in Cologne last month while tending skewers of meat on a charcoal grill, Haci Akarcorten only just got a hand to the ringing phone.

At the other end was silence.

“Is it you?” Haci asked, tentatively voicing the name of his younger brother, a 29-year-old electrician who had gone missing six months earlier. “Yes, it’s me,” came the answer.

Jan 22, 2014

Europe worried as more and younger recruits join Syria battle

COLOGNE, Germany Jan 22 (Reuters) – Dashing to serve
customers in the family restaurant in Cologne last month while
tending skewers of meat on a charcoal grill, Haci Akarcorten
only just got a hand to the ringing phone.

At the other end was silence.

“Is it you?” Haci asked, tentatively voicing the name of his
younger brother, a 29-year-old electrician who had gone missing
six months earlier. “Yes, it’s me,” came the answer.

Jan 14, 2014

Study shows Aldi, VW used East German prison labour

BERLIN, Jan 14 (Reuters) – Leading German firms including
supermarket chain Aldi and carmaker Volkswagen stocked goods or
used components made by forced labour in former Communist East
Germany, a study has found, although both firms insist they did
so unwittingly.

Research by the federal authority responsible for managing
the archives of East Germany’s Stasi secret police (BStU)
uncovered a far broader use of prison labour during the 1970s
and 1980s by Western firms than previously acknowledged.

Jan 8, 2014

High liquidity mustn’t create bubbles, Schaeuble says

BERLIN, Jan 8 (Reuters) – Policymakers must closely watch
ultra-high liquidity provided by the world’s big central banks
to ensure no new asset bubbles form, German Finance Minister
Wolfgang Schaeuble said on Wednesday, reiterating a
long-standing warning.

“We must keep a watch on liquidity levels to ensure new
bubbles aren’t being created,” Schaeuble said at a news
conference with visiting U.S. Treasury Secretary Jack Lew.

Jan 8, 2014

German exports rise for fourth month in a row in November

BERLIN, Jan 8 (Reuters) – German exports rose for the fourth
consecutive month in November and industrial orders surged more
than expected – mostly based on overseas demand – in a sign that
Europe’s largest economy is benefiting from a nascent global
upturn.

But the data, coinciding with a visit on Wednesday by U.S.
Treasury Secretary Jack Lew who has criticised Germany’s
export-driven model, could fuel allegations Berlin is not doing
enough to help its European partners by stimulating domestic
demand.

Dec 17, 2013

New German minister criticizes Russia, EU over Ukraine

BERLIN (Reuters) – Germany’s new Foreign Minister Frank-Walter Steinmeier criticized both Russia and the European Union in his inaugural speech for failing to recognize Ukraine’s divisions and placing the country in an impossible situation.

The Social Democrat (SPD) returned on Tuesday to the post he held during Angela Merkel’s first “grand coalition” government from 2005-2009.

Dec 9, 2013

German data shows mixed start to quarter, tempers optimism

BERLIN (Reuters) – Germany’s trade surplus narrowed in October on a jump in demand for imports from firms and households, while industrial output unexpectedly fell, signaling a mixed start to the fourth quarter for Europe’s biggest economy.

Factory production dropped for the second month running, though the economy ministry said forward-looking sentiment data and robust construction orders indicated production would rise in the next months.

Dec 3, 2013

Scandal-hit Spain plummets 10 places in global corruption index

BERLIN, Dec 3 (Reuters) – Spain has slumped 10 places to a
rank of 40 in a global index of perceived official corruption
after a spate of scandals in its ruling centre-right ruling
party and the royal family, watchdog Transparency International
(TI) said.

In its Corruption Perceptions Index for 2013, the anti-graft
organisation said Spain was the second biggest loser of points
alongside Gambia, Mali, Guinea-Bissau and Libya. The only
country to tumble further was Syria, rocked by civil war.