Dave's Feed
Dec 14, 2010

ECB to discuss capital increase this week

BERLIN/FRANKFURT, Dec 14 (Reuters) – The European Central
Bank could decide this week on whether to increase its capital
– giving it a cushion against any losses on its bond purchases
– after Germany threw its weight behind the idea on Tuesday.

The ECB’s policy-setting Governing Council will discuss a
possible capital hike when it meets on Wednesday and Thursday, a
euro zone central bank source said.

Dec 14, 2010

Germany says would support ECB capital increase

BERLIN (Reuters) – Germany threw its weight on Tuesday behind a potential capital increase by the European Central Bank, saying it would react positively to such a move if the ECB deems it necessary.

Euro zone central bank sources have told Reuters the ECB is considering requesting an increase in its capital from euro zone member states as a cushion against any potential losses from its bond buying programme.

Dec 14, 2010

Germany open to ECB capital rise to fight crisis

BERLIN/FRANKFURT, Dec 14 (Reuters) – European Union
paymaster Germany said on Tuesday it was willing to give the
European Central Bank more capital if needed to help fight a
sovereign debt crisis that continues to shake the euro zone.

ECB sources told Reuters on Monday that the central bank was
considering requesting a capital increase from euro zone states
to cover the risk of losses on government bonds it has bought to
support the 16-nation single currency area.

Dec 3, 2010

Germany: “no desire” for joint EU fiscal policy

BERLIN, Dec 3 (Reuters) – Germany said on Friday there were
“no plans and no desire” for joint fiscal policy in the euro
zone, pointing out that reforms under way already provide for
closer cooperation between member states on economic policy.

Spanish Prime Minister Jose Luis Rodriguez Zapatero this
week called for the euro zone to develop a much more integrated
fiscal policy as well as a common economic policy to counter the
sorts of pressures that sparked debt crises in Greece and
Ireland.

Dec 1, 2010

A migrant’s tale of 250 years of German integration

By Dave Graham

BERLIN (Reuters Life!) – Percy MacLean can call on 250 years of experience to weigh up how immigrants integrate in Germany. Since his Scottish ancestor arrived in 1753, the family has produced mayors, members of parliament and even a Nazi.

Today, the 63-year-old MacLean, a chief judge in Berlin’s administrative court, says Germany risks losing the openness that allowed his family to flourish for generations because of a divisive national debate over the integration of Muslims.

Nov 26, 2010

Euro nations lean on Portugal to seek help-paper

BERLIN, Nov 26 (Reuters) – Euro zone nations and its central
bank are urging Portugal to apply for a financial bailout from a
European rescue fund, Financial Times Deutschland reported on
Friday.

Without revealing its sources, the paper said a majority of
euro zone countries and the European Central Bank were putting
pressure on Portugal to follow Ireland and Greece and seek aid
in order to save Spain — European Union’s fifth-largest economy
– from having to do the same.

Nov 26, 2010

Euro nations lean on Portugal to seek help: report

BERLIN (Reuters) – Euro zone nations and its central bank are urging Portugal to apply for a financial bailout from a European rescue fund, Financial Times Deutschland reported on Friday.

Without revealing its sources, the paper said a majority of euro zone countries and the European Central Bank were putting pressure on Portugal to follow Ireland and Greece and seek aid in order to save Spain — European Union’s fifth-largest economy — from having to do the same.

Nov 23, 2010

Banks’ debt holdings must be capped -German aide

BERLIN, Nov 23 (Reuters) – Caps must be set on the amount of
debt lenders can hold if European governments are serious about
ending what threatens to become a cycle of country bailouts to
rescue ailing banks, a German government advisor said on
Tuesday.

Jan Pieter Krahnen, a professor of finance at the University
of Frankfurt, said in an interview with Reuters that a “vicious
circle” of banks loading up on risky debt may already have taken
root due to “non-existent but much-needed rules” on asset
holdings.

Nov 23, 2010

Banks’ debt holdings must be capped -German aide

BERLIN, Nov 23 (Reuters) – Caps must be set on the amount of
debt lenders can hold if European governments are serious about
ending what threatens to become a cycle of country bailouts to
rescue ailing banks, a German government advisor said on
Tuesday.

Jan Pieter Krahnen, a professor of finance at the University
of Frankfurt, said in an interview with Reuters that a “vicious
circle” of banks loading up on risky debt may already have taken
root due to “non-existent but much-needed rules” on asset
holdings.

Nov 17, 2010

Germany raises security alert after attack warnings

BERLIN (Reuters) – Germany said on Wednesday it had strong evidence Islamist militants were planning attacks in the next two weeks and ordered security at potential targets such as train stations and airports to be tightened.

Interior Minister Thomas de Maiziere said details of the plot emerged after parcel bombs were dispatched from Yemen to U.S. targets at the end of October, and separate postal bombs by suspected Greek militants were sent to prominent figures including Chancellor Angela Merkel.