Gernot's Feed
Feb 10, 2015

Bundesbank’s Weidmann urges Greece to make ‘credible’ reform effort

ISTANBUL (Reuters) – The chief of Germany’s Bundesbank pressed Greece on Tuesday to make a credible effort to get back on its feet with tighter public finances and economic reforms, showing no willingness to bend in a standoff with Athens.

In an interview with Reuters, Jens Weidmann gave no quarter in the confrontation between Greece and its euro zone partners, in which Athens is seeking an end to its international bailout program and the tough austerity terms attached.

Feb 9, 2015

Euro zone, Greece face off as markets take fright

ATHENS/ISTANBUL (Reuters) – Greece and its euro zone partners engaged in brinkmanship on Monday, with leftist Prime Minister Alexis Tsipras insisting his country would not extend its reform-linked bailout and Germany saying it would get no more money without such a program.

European Commission President Jean-Claude Juncker warned Greeks not to expect the euro zone to bow to Tsipras’ demands in a growing confrontation which spooked financial markets and prompted U.S. and Canadian pleas for calm and compromise.

Feb 9, 2015

EU warns Greece: don’t assume euro zone will accept your demands

ATHENS/ISTANBUL (Reuters) – Greece and its euro zone partners engaged in brinkmanship on Monday, with leftist Prime Minister Alexis Tsipras insisting his country would not extend its reform-linked bailout and Germany saying it would get no more money without such a program.

European Commission President Jean-Claude Juncker warned Greeks not to expect the euro zone to bow to Tsipras’ demands in a growing confrontation which spooked financial markets and prompted U.S. and Canadian pleas for calm and compromise.

Feb 2, 2015

Schaeuble worried German support for euro is waning

BERLIN (Reuters) – German public support for the euro is dwindling worryingly due to the Greek crisis and the European Central Bank’s decision to buy a trillion euros of government bonds, Finance Minister Wolfgang Schaeuble told Reuters on Monday.

“You have to see the danger, there’s no question about that,” the veteran conservative said at the Reuters Euro Zone Summit, when asked if renewed Greek turmoil and the debate about low interest rates were starting to turn Germans against the single currency.

Feb 2, 2015

Germany won’t accept one-sided changes to Greek bailout: Schaeuble

BERLIN (Reuters) – Berlin will not accept any one-sided changes to Greece’s bailout program, German Finance Minister Wolfgang Schaeuble told Reuters in an interview on Monday.

Schaeuble said he was concerned public support in Germany for the euro was dwindling, partly in response to the European Central Bank’s plan to buy hundreds of billions of euros of government bonds to prop up the euro zone economy.

Jan 15, 2015

German coalition mulls increasing public investment: sources

BERLIN (Reuters) – The German government is considering increasing public investment from next year following news that it reached its goal to balance the federal budget a year ahead of schedule, coalition sources said on Thursday.

The sources who spoke to Reuters gave no details on how much Chancellor Angela Merkel’s government could boost its spending on items like infrastructure and education.

Dec 1, 2014

Germany, France and Italy urge EU to write common corporate tax laws

BERLIN (Reuters) – The German, French and Italian finance ministers have urged the European Commission to draw up EU-wide laws to curb corporate tax avoidance and prevent member states from offering lower taxes to attract investors.

In a letter to economics and tax commissioner Pierre Moscovici, the ministers of the euro zone’s three biggest economies called for a comprehensive anti-BEPS (Base erosion and profit sharing) directive for member states to adopt by the end of 2015.

Nov 15, 2014

At G20 summit, U.S. and Europe blast Russia over Ukraine

BRISBANE Australia (Reuters) – Western leaders attending a G20 summit blasted Russian President Vladimir Putin on Saturday for the crisis in Ukraine, threatening further sanctions if Russia did not withdraw troops and weapons from its neighboring nation.

U.S. President Barack Obama said Russian aggression against Ukraine was a threat to the world, while the European Council demanded Moscow put pressure on rebels there to accept a ceasefire.

Oct 22, 2014

German lawmakers rip ECB over corporate bonds report

BERLIN (Reuters) – Senior lawmakers from Chancellor Angela Merkel’s conservative party heaped criticism on the European Central Bank on Wednesday following a Reuters report that it was considering the purchase of corporate bonds to spur growth.

The report on Tuesday, citing several sources familiar with the central bank’s thinking, said the ECB could decide as soon as December to go ahead with corporate bond buys on the secondary market, with a view to starting the purchases early next year.

Oct 4, 2014

Merkel ally says Draghi turning ECB into a “junk bank”

BERLIN, Oct 4 (Reuters) – A leading member of German
Chancellor Angela Merkel’s Bavarian sister party criticised
European Central Bank chief Mario Draghi on Saturday, saying he
was turning the institute into a “junk bank” with his plans to
buy debt rated as junk.

In a stinging attack, Hans Michelbach of the Christian
Social Union (CSU) said Draghi was endangering the stability of
financial markets.