Financial Regulatory Forum

City of London, U.S. lobbies are fighting market regulation – Germany

September 23, 2009

German Finance Minister Peer Steinbrueck arrives to the weekly cabinet meeting in Berlin, August 5, 2009.   REUTERS/Fabrizio Bensch (GERMANY POLITICS) 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.

No sense in G20 limiting bank size-German FinMin

September 4, 2009

German Finance Minister Peer Steinbrueck of the Social Democrats (SPD) (top) looks to Economy Minister Karl-Theodor zu Guttenberg of the Christian Democratic Union (CSU) at the weekly cabinet meeting in Berlin, September 2, 2009.   REUTERS/Fabrizio Bensch (GERMANY POLITICS IMAGES OF THE DAY)    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

September 3, 2009

German Chancellor Angela Merkel (R) speaks with French President Nicolas Sarkozy and British Prime Minister Gordon Brown (C) at the start of a meeting in the Chancellery in Berlin, February 22, 2009. 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.

Germany, France want tougher bank bonus rules at G20

August 26, 2009

German Finance Minister Peer Steinbrueck arrives to the weekly cabinet meeting in Berlin, August 5, 2009.   REUTERS/Fabrizio Bensch (GERMANY POLITICS) 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.

GM negotiator meets with Opel task force in Berlin

August 25, 2009

An Opel car stops in front of the Federal Ministry for Economy and Technology in Berlin August 25, 2009. German Foreign Minister Frank-Walter Steinmeier said General Motors Co's top negotiator for a deal on the sale of its European unit Opel would meet the government's Opel Taskforce on Tuesday in Berlin.  REUTERS/Pawel Kopczynski   (GERMANY TRANSPORT) 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

August 24, 2009

opel-rtr26yw0_comp 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

July 1, 2009

    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

July 1, 2009

German Finance Minister Peer Steinbrueck

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.