Gernot's Feed
Oct 24, 2015

Germany to start shift to coal power reserve in winter 2016

BERLIN, Oct 24 (Reuters) – Utilities RWE,
Vattenfall and Mibrag will start shifting coal-fired
power plant capacity to Germany’s power reserve at the start of
the European winter next year as part of a plan to reduce carbon
emissions, the government said.

Germany in July abandoned plans for a levy on coal-fired
power plants and instead said it would pay companies to shift
capacity to a coal-fired reserve to safeguard its target to cut
emissions by 12.5 million tons by 2020.

Sep 20, 2015

Refugee crisis to test EU at summit of divided leaders

BRUSSELS/ LEIPZIG, Germany (Reuters) – Bitterly-divided European leaders will seek to find a credible response to the continent’s worst migration crisis since World War Two at an emergency summit next week.

German chancellor Angela Merkel called on her peers on Sunday to accept joint responsibility.

Sep 20, 2015

Merkel tells Europe: Germany can’t cope with migrants alone

LEIPZIG, Germany (Reuters) – Europe must share responsibility for coping with mass migration, Germany’s chancellor said on Sunday, cautioning that her country could not shelter those who moved solely for economic reasons.

“Germany is willing to help. But it is not just a German challenge, but one for all of Europe,” Angela Merkel told a gathering of trade unionists. “Europe must act together and take on responsibility. Germany can’t shoulder this task alone.”

Sep 15, 2015

Germany denies nuclear operators face 30 bln euro shortfall

FRANKFURT/BERLIN, Sept 15 (Reuters) – The German government
came to the support of utilities on Tuesday, refuting a media
report of a provisioning shortfall of up to 30 billion euros
($34 billion) which had sent shares in the companies tumbling.

Spiegel Online reported a potential shortfall in
provisioning for nuclear waste storage late on Monday citing the
findings of a law firm appointed by the economy ministry.

Sep 11, 2015

EU, Germany head for clash over deposit insurance plan

BERLIN/LUXEMBOURG, Sept 11 (Reuters) – The European
Commission and Germany are set to clash on Saturday over a plan
to guarantee bank deposits, which the EU sees as a necessary
confidence-building step but Berlin considers an unfair pooling
of risk.

Commission President Jean-Claude Juncker said in his state
of the union speech to the European Parliament on Wednesday that
he would soon make a concrete proposal on steps towards a
European Deposit Insurance/Reinsurance Scheme.

Sep 11, 2015

Germany opposes EU plan for common deposit guarantees – document

BERLIN, Sept 11 (Reuters) – Germany is strongly opposed to
discussing a common European Union bank deposit guarantee scheme
because it would lead to further mutualisation of bank risk, a
paper prepared by Berlin for an informal meeting of EU finance
ministers said.

Commission President Jean-Claude Juncker said in his state
of the union speech to the European Parliament on Wednesday that
he would soon make a concrete proposal on steps towards a
European Deposit Insurance/Reinsurance Scheme.

Sep 5, 2015

G20 financial leaders: cheap central bank cash alone not enough for balanced growth

ANKARA (Reuters) – World financial leaders agreed on Saturday that over reliance on cheap cash from loose central bank monetary policy will not lead to balanced economic growth and that as activity picks up, interest rates would have to rise.

Instead, G20 governments agreed that they should focus more on what they themselves can do to boost growth, Britain’s Finance Minister George Osborne told Reuters.

Sep 5, 2015

G20 fin leaders: cheap central bank cash alone not enough for balanced growth

ANKARA (Reuters) – World financial leaders agreed on Saturday that over reliance on cheap cash from loose central bank monetary policy will not lead to balanced economic growth and that as activity picks up, interest rates would have to rise.

Instead, G20 governments agreed that they should focus more on what they themselves can do to boost growth, Britain’s Finance Minister George Osborne told Reuters.

Sep 5, 2015

G20 fin leaders: cheap c.bank cash alone not enough for balanced growth

ANKARA, Sept 5 (Reuters) – World financial leaders agreed on
Saturday that over reliance on cheap cash from loose central
bank monetary policy will not lead to balanced economic growth
and that as activity picks up, interest rates would have to
rise.

Instead, G20 governments agreed that they should focus more
on what they themselves can do to boost growth, Britain’s
Finance Minister George Osborne told Reuters.

Sep 4, 2015

G20 task force seeks compromise on bank buffer -source

ANKARA, Sept 4 (Reuters) – Global regulators have proposed a
two-stage deal for banks to issue debt to raise cash in a crisis
without having to call on taxpayers for help, a G20 source said
on Friday.

The regulatory task force of the Group of 20 leading
economies — The Financial Stability Board (FSB) — is seeking
to straddle a transatlantic divide that has so far prevented
agreement on a fixed figure for a debt issue that can be written
down by a failing bank to replenish core capital buffers.