BERLIN, April 10 (Reuters) – Germany has given its banks
long-awaited legal certainty on the tax treatment of “CoCo”
bonds that can be converted into shares to bolster their
capital, the finance ministry said on Thursday.
In a decision that clears the way for German lenders to
issue the securities, the ministry said banks will be allowed to
deduct interest payments on contingent collateral bonds from
BERLIN (Reuters) – France’s new Socialist government delivered mixed messages on Monday to Germany, its closest partner and the European Union’s pivotal power, on its priorities for reducing the budget deficit and stepping up economic reforms to boost growth.
Finance Minister Michel Sapin told his German counterpart, Wolfgang Schaeuble, that Paris would stick to promised deficit reductions and that any measures to cut France’s budget gap would come from savings and growth.
BERLIN (Reuters) – France’s new Socialist government sought on Monday to reassure Germany, its closest partner and the European Union’s pivotal power, that it would stick to promised deficit reductions and step up economic reforms to accelerate sluggish growth.
Finance Minister Michel Sapin told his German counterpart, Wolfgang Schaeuble, that any measures to cut France’s budget gap would come from savings and growth, promising to take “tough, brave” decisions to overhaul a rigid economy.
BERLIN (Reuters) – President Xi Jinping said on Friday China would not take sides with the West or Russia over Ukraine, disappointing any hopes Beijing might add its weight to international pressure on Moscow for annexing Crimea.
“China does not have any private interests in the Ukraine question,” Xi told a news conference with German Chancellor Angela Merkel. “All parties involved should work for a political and diplomatic solution to the conflict.”
BERLIN, March 25 (Reuters) – German business morale dropped
for the first time in five months in March as firms in Europe’s
largest economy began to worry that a standoff with Russia and
further sanctions over Ukraine would hurt them in a key market.
The business climate index by Munich-based Ifo think tank
fell to 110.7 from 111.3 in February, data showed on Tuesday,
missing a consensus forecast for it to drop to 111.0.
BERLIN, March 16 (Reuters) – Senior German lawmakers on
Sunday called for tougher rules to make it harder for tax
cheats to claim amnesty by turning themselves in, days after
soccer manager Uli Hoeness was sentenced for 3-1/2 years in
prison for tax evasion.
Recent news that Hoeness and other prominent Germans such as
feminist activist Alice Schwarzer hoarded cash in secret bank
accounts for years, have prompted calls for Chancellor Angela
Merkel’s government to clamp down on tax dodging.
BERLIN, March 12 (Reuters) – A trade conflict between Russia
and Europe over Ukraine would hurt German business but it would
be life-threatening for the Russian economy, Germany’s main
trade body said on Wednesday, making its forecasts conditional
on the crisis in Crimea.
“All in all, we are optimistic about foreign business with
large parts of the world. Unfortunately, that is not true for
business with Russia,” said Anton Boerner, president of the BGA
BRUSSELS, March 11 (Reuters) – European countries haggled on
Tuesday over a scheme to insulate taxpayers from the costs of
bank failures, redoubling efforts to avoid an embarrassing delay
to the euro zone’s centrepiece crisis reform.
The protracted talks show the politically charged nature of
the plan to disentangle states and the banks from which they
borrow. A future agency to wind down failing banks, and a fund
to pay for the clean-up, will complement European Central Bank
supervision of euro zone banks.
BRUSSELS, March 11 (Reuters) – European ministers haggled
over how to build a safety net for failing banks on Tuesday,
redoubling efforts to avoid an embarrassing delay to the euro
zone’s centrepiece crisis reform.
The protracted talks over a scheme to close troubled lenders
to complement European Central Bank supervision illustrates the
politically charged nature of the plan to disentangle states and
the banks from which they borrow.
ROSA KHUTOR, Russia, Feb 22 (Reuters) – Germany finally found something to celebrate in biathlon when their men’s relay team won a silver medal at the Sochi Winter Olympics on Saturday.
The medal provided some good news to a German that performed below expectations and was left reeling when one their female athletes, Evi Sachenbacher-Stehle, failed a doping test.