Chief Correspondent, Poland
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Jul 10, 2012

Watchdog tells “opaque” finance sector to open up

BERLIN, July 10 (Reuters) – Big banks and insurers, which
played a central role in the global financial crisis, need to be
more open about their operations, a Berlin-based corruption
watchdog said on Tuesday.

In a report covering 105 global firms, Transparency
International (TI) singled out banks and insurers for special
criticism, saying opaque structures in their sector persisted.

Jun 29, 2012

German parliament approves EU bailout fund

BERLIN (Reuters) – Germany’s parliament resoundingly approved the euro zone’s permanent bailout scheme and new budget rules on Friday, but legal hurdles remain and Chancellor Angela Merkel’s concessions to euro zone partners Italy and Spain may make those harder to overcome.

The outcome of the vote was never seriously in doubt after opposition parties agreed to back the budget rules, or “fiscal compact”, in return for growth and job creation measures. Merkel needed their support to get a required two-thirds majority.

Jun 29, 2012

Bundestag approves EU bailout fund, fiscal pact

BERLIN, June 29 (Reuters) – Germany’s lower house of
parliament resoundingly approved the euro zone’s permanent
bailout scheme and new budget rules on Friday, but legal hurdles
remain and Chancellor Angela Merkel’s concessions to euro zone
partners Italy and Spain may make those harder to overcome.

The outcome of the vote was never seriously in doubt after
opposition parties agreed to back the budget rules, or “fiscal
compact”, in return for growth and job creation measures. Merkel
needed their support to get a required two-thirds majority.

Jun 28, 2012

Crisis? Germans savour sunshine as euro storm blows

HANOVER, Germany, June 28 (Reuters) – For his fellow
Germans, explains businessman Roland Frobel, the euro crisis is
a hurricane that may have been spotted on the horizon but has
yet to blow in.

“The storm is coming, everybody knows that, but the
lightning has not struck yet,” said the chief financial officer
of Rossmann, one of Germany’s largest health and beauty retail
chains, at its headquarters near the northern city of Hanover.

Jun 22, 2012

Berlin photofest chronicles Greek rage

BERLIN, June 22 (Reuters) – Photo-journalist Nikos Pilos
used to travel the world to cover conflicts, now he only needs
to open his front door in Athens.

Pilos’s work, on display this week at Berlin’s Browse
Fotofestival, chronicles the violence, anger and despair
engulfing Greece as it tries to stave off economic collapse.

Jun 11, 2012

Market euphoria over Spanish bank bailout fades

MADRID/BERLIN (Reuters) – Financial market euphoria over an EU bailout for Spain’s troubled banks faded on Monday as investors sounded the alarm over its impact on public debt and worried whether Greek elections will deepen the euro zone crisis.

Madrid insisted it would stick to its borrowing plans this year after the European Union agreed to the bailout of up to 100 billion euros ($125 billion), which is aimed at rescuing banks battered by a property market collapse and recession rather than helping the Spanish state finance its budget deficit.

Jun 11, 2012

Spain told it will be under “troika” supervision

MADRID/BERLIN, June 11 (Reuters) – Spain faces supervision
by international lenders after a bailout for its banks agreed
at the weekend, EU and German officials said on Monday,
contradicting Prime Minister Mariano Rajoy who had insisted the
cash came without such strings.

Financial markets responded with relief to Saturday’s euro
zone deal to lend Madrid up to 100 billion euros ($125 billion)
to recapitalise debt-laden banks, with investors scooping up
battered financial shares.

Jun 11, 2012

Analysis: EU’s Spain bank rescue may bring only brief respite

MADRID/BERLIN (Reuters) – Spain faces supervision by international lenders after a bailout for its banks agreed at the weekend, EU and German officials said on Monday, contradicting Prime Minister Mariano Rajoy who had insisted the cash came without such strings.

Financial markets responded with relief to Saturday’s euro zone deal to lend Madrid up to 100 billion euros ($125 billion) to recapitalize debt-laden banks, with investors scooping up battered financial shares.

May 14, 2012

Isolated Merkel sticks by austerity after vote setback

BERLIN, May 14 (Reuters) – Angela Merkel is looking
increasingly isolated at home and in Europe after what she
called a “bitter, painful defeat” for her party in a weekend
election in Germany’s most populous state.

The German chancellor said the vote did not change her view
that fiscal rigour was the best path for Europe, although it
highlighted resistance among Germans to enduring the kind of
austerity she has forced on debt-laden southern nations.

May 11, 2012

Germany tells Greece not to stray if it wants cash

BERLIN (Reuters) – Germany told Greece on Friday that staying in the euro zone was its own choice and that it must not stray from austerity if it expects to get international cash.

It also laid out its support for a European ‘growth pact’ in an attempt to deflect criticism that its insistence on austerity has exacerbated Athens’ debt woes.

    • About Gareth

      "I lead a team of around 20 journalists in Warsaw, including text reporters writing in English and in Polish, photographers and a small TV crew. I joined Reuters 20 years ago and Warsaw is my seventh assignment. I have also worked in Tokyo, Moscow, London, Brussels, Ankara and Sofia."
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