BERLIN, Sept 23 (Reuters) – The City of London is doing its best to block the introduction of stricter financial market regulations, but tougher rules will come, German Finance Minister Peer Steinbrueck said a day before a Group of 20 summit.
City of London, U.S. lobbies are fighting market regulation – Germany
No sense in G20 limiting bank size-German FinMin
BERLIN, Sept 4 (Reuters) – Germany opposes any plans by the Group of Twenty to limit the size of banks to avoid individual institutions wielding too much influence in future and posing a risk, Germany’s Finance Minister told a newspaper on Friday. (more…)
UK, France, Germany urge G20 post-crisis plan, tougher regulation and tax measures
By Yann Le Guernigou
CALIGNY, France, Sept 3 (Reuters) – Britain, France and Germany called on the G20 on Thursday to discuss exiting measures implemented to tackle economic crisis, as well as limits on bank bonuses, at an upcoming summit in Pittsburgh.
In a joint letter to European leaders, British Prime Minister Gordon Brown, German Chancellor Angela Merkel and French President Nicolas Sarkozy said major economies had to avoid creating new global imbalances as the recession receded.
Germany, France want tougher bank bonus rules at G20
BERLIN, Aug 26 (Reuters) – Germany and France want G20 nations to reach an agreement on tougher rules governing bonus payments in the financial sector, German Finance Minister Peer Steinbrueck said in an interview published on Wednesday.
“We need international agreement here as well,” the Handelsblatt newspaper quoted Steinbrueck as saying with regard to the Group of 20 meeting of finance ministers hosted by Britain next week.
GM negotiator meets with Opel task force in Berlin
By Gernot Heller and Maria Sheahan
BERLIN/FRANKFURT, Aug 25 (Reuters) – German government officials met with General Motors’ top negotiator on Tuesday, hoping to get answers on why the U.S. carmaker has so far failed to choose a buyer for its European unit, Opel.
U.S. government to leave Opel choice to GM – U.S. official
WASHINGTON, Aug 24 (Reuters) – The Obama administration will not use the U.S. majority-ownership stake in General Motors Corp. to influence the automaker’s choice of a buyer for its Opel operations in Europe, an administration official said on Monday. The official, asked whether the U.S. Treasury’s autos task force would weigh in on the issue or leave it up to GM’s management and board, said the administration was available to consult with the German government on the Opel issue, but would not get involved in GM’s decision.
Germany seeks to ease parts of Basel II capital rules
By Marcin Grajewski and Huw Jones
BRUSSELS/LONDON (Reuters) – Germany wants to relax global rules on capital charges to ease writedown pressures on banks holding toxic assets, an EU document showed on Wednesday.
European Union finance ministers meet next week and will be asked to endorse a report from their Economic and Financial Committee on how to stop rules amplifying market turmoil. (more…)
German minister accuses Britain of hindering market reforms
By Matthias Sobolewski
BERLIN (Reuters) – German Finance Minister Peer Steinbrueck accused Britain on Wednesday of hindering efforts to reform global financial markets because it is too eager to pander to the City of London. While the U.S. administration was now interested in reforming financial markets, London was resisting change, said Steinbrueck, who last year sparked a diplomatic spat with Britain by criticising its economic stimulus plan.
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