Dave's Feed
May 29, 2010

German Finance Minister hints at potential tax hike

BERLIN, May 29 (Reuters) – German Finance Minister Wolfgang
Schaeuble hinted that taxes may have to rise to consolidate
Germany’s finances one day after coalition sources said the
government may scrap a discounted sales tax on some products.

“The real task lies in saving as much on spending as
possible,” Schaeuble told newspaper Bild am Sonntag, in remarks
released on Saturday, one day before the paper is published.

May 28, 2010

German president defends military action, fans row

BERLIN (Reuters) – Remarks by Germany’s president justifying military action to back the country’s commercial interests have sparked accusations of “gunboat diplomacy”, putting the government on the defensive.

Germany’s defence minister on Friday distanced himself from the comments by President Horst Koehler, a former head of the International Monetary Fund, who was asked in a weekend radio interview how he viewed the country’s deployment in Afghanistan.

May 27, 2010

German security deal raises worry over mercenaries

BERLIN (Reuters) – A deal struck by a German private security firm with a Somali politician to provide soldiers for hire has raised uncomfortable questions about whether Germany can send mercenaries into combat 65 years after World War Two.

The firm’s managing director said it would only send its staff — which include former German soldiers — to Somalia once Abdinur Ahmed Darman, a self-styled president who media describe as a warlord, had been recognised by the United Nations.

May 25, 2010

Germany eyes wider short-selling ban as euro slides

BERLIN/ROME (Reuters) – Germany may widen its ban on speculative financial trades to cover all shares, a government document showed on Tuesday, as fears about the euro zone’s debt crisis sent stocks and the euro plunging further.

The Finance Ministry draft said measures to stabilise financial markets would include a “ban on naked short selling of shares, including derivatives referring thereto.” One government source, speaking on condition of anonymity, said this would cover all German shares.

May 25, 2010

Germany may extend short sale ban on shares -draft

BERLIN (Reuters) – Germany may widen a ban on speculative trades in financial stocks to cover all shares, a draft finance ministry document showed on Tuesday.

The draft said a raft of measures aimed at stabilising financial markets would include a “ban on naked short selling of shares, including derivatives referring thereto.”

May 25, 2010

Germany eyes wider short-selling ban

BERLIN/ROME (Reuters) – Germany may widen its ban on speculative financial trades to cover all shares, a leaked government document showed on Tuesday, as fears about the euro zone’s debt crisis sent stocks and the euro plunging further.

The Finance Ministry draft said planned measures aimed at stabilizing financial markets would include a “ban on naked short selling of shares, including derivatives referring thereto.”

May 25, 2010

Germany eyes wider short-selling ban as stocks fall

BERLIN/ROME (Reuters) – Germany may widen its ban on speculative financial trades to cover all shares, a leaked government document showed on Tuesday, as fears about the euro zone’s debt crisis sent stocks and the euro plunging further.

The Finance Ministry draft said planned measures aimed at stabilising financial markets would include a “ban on naked short selling of shares, including derivatives referring thereto.”

May 11, 2010

German cabinet backs euro plan in special meeting

BERLIN (Reuters) – Germany’s cabinet on Tuesday backed plans to stump up 123 billion euros in loan guarantees to support the euro, two days after international policymakers agreed on a $1 trillion package to restore calm to markets.

The cabinet’s rapid approval of the euro plan in a special session follows criticism that Merkel took too long to back a rescue for Greece, stoking market tensions and rendering the final bailout much more expensive than it would have been.

May 10, 2010

Merkel plans euro aid approval after election bashing

BERLIN (Reuters) – Chancellor Angela Merkel said on Monday her cabinet aimed to push through quickly Germany’s part of a $1 trillion emergency rescue package to stabilize the euro despite suffering a crushing state election defeat on Sunday.

Merkel said the cabinet would meet on Tuesday to approve Germany’s contribution to the package thrashed out by European Union finance ministers and the IMF at the weekend to prevent a sovereign debt crisis spreading through the euro zone.

May 7, 2010

German lawmakers back Greek aid package

BERLIN (Reuters) – Lawmakers in Berlin and other euro zone capitals on Friday backed emergency aid for Greece, clearing key hurdles for a package that German Chancellor Angela Merkel has said will determine the future of the European Union.

After an accelerated legislative process, 390 deputies in Germany’s lower house of parliament, the Bundestag, voted in favor of a bill that could see the country lend Greece 22.4 billion euros over three years. A total of 72 lawmakers voted against and 139 abstained.