Gernot's Feed
Nov 14, 2011

Germans and Swiss still discussing tax agreement

BERLIN, Nov 14 (Reuters) – Germany and Switzerland
said on Monday they were still discussing an agreement to rein
in tax dodgers after a report that Berlin wanted to renegotiate
the deal signed in September.

The deal aims to tax money stashed by German citizens in
secret accounts, which would net Berlin billions of euros and
whittle away at Switzerland’s renowned banking secrecy.

Nov 3, 2011

Insight: Grave mood, straight talk at historic EU meeting

CANNES, France (Reuters) – The mood was tough, the words ‘crystal clear’. German and French leaders told Greek Prime Minister George Papandreou in two hours of torrid talks they would not allow the 50-year march of European integration to founder on Athens’ failure to tackle its debt problems.

The confrontation in the Riviera town of Cannes raised for the first time the possibility of a state being ejected from the 12-year-old euro zone, even leaving the European Union itself.

Nov 3, 2011

Grave mood, straight talk at historic EU meeting

CANNES, France (Reuters) – The mood was tough, the words ‘crystal clear’. German and French leaders told Greek Prime Minister George Papandreou in two hours of torrid talks they would not allow the 50-year march of European integration to founder on Athens’ failure to tackle its debt problems.

The confrontation in the Riviera town of Cannes raised for the first time the possibility of a state being ejected from the 12-year-old euro zone, even leaving the European Union itself.

Oct 31, 2011

Interview: Euro deal will only work if all parts implemented

BERLIN (Reuters) – A package of measures agreed by European leaders this month to stem their debt crisis will only work if all elements are implemented, German Deputy Finance Minister Joerg Asmussen said in an interview on Monday.

Speaking to Reuters days before a meeting of G20 leaders in Cannes, Asmussen also said he did not expect Germany to come under any pressure from other countries at the summit to do more to stem the crisis that has forced bailouts of Greece, Ireland and Portugal and now threatens Italy and Spain.

Oct 31, 2011

Euro deal will only work if all parts implemented

BERLIN (Reuters) – A package of measures agreed by European leaders this month to stem their debt crisis will only work if all elements are implemented, German Deputy Finance Minister Joerg Asmussen said in an interview on Monday.

Speaking to Reuters days before a meeting of G20 leaders in Cannes, Asmussen also said he did not expect Germany to come under any pressure from other countries at the summit to do more to stem the crisis that has forced bailouts of Greece, Ireland and Portugal and now threatens Italy and Spain.

Oct 25, 2011

German EconMin sees coalition majority in EFSF vote

BERLIN (Reuters) – German Economy Minister Philipp Roesler said he was confident Germany’s centre-right coalition would pass proposals on how to leverage the euro zone rescue fund with its own parliamentary majority, in a Bundestag vote on Wednesday.

Roesler also said in an interview with Reuters that excluding member states who bust euro zone budget rules was not currently under consideration and the goal was to keep all euro zone members within the single currency bloc.

Oct 21, 2011

Merkel sticks to hard line on euro zone solution

BRUSSELS/BERLIN, Oct 21 (Reuters) – European leaders have
put off crucial decisions on how to stop a sovereign debt
meltdown in their currency zone, keeping markets on edge, to
give German Chancellor Angela Merkel time to secure
parliamentary support, EU sources said on Friday.

Leaders of the 17-nation euro zone will now hold a second
summit next Wednesday to thrash out the toughest issues of how
to maximise the bloc’s financial rescue fund and how to reduce
Greece’s debt, because Merkel will not be empowered to conclude
agreements when they meet in Brussels on Sunday.

Oct 20, 2011

Franco-German split over bailout fund threatens crisis plan

BRUSSELS/BERLIN, Oct 21 (Reuters) – Deep divisions between
France and Germany mean they will make scant progress on
strengthening the euro zone bailout fund at a summit on Sunday,
in a sign that Europe’s leaders are still some way from getting
a grip on the bloc’s debt crisis.

France and Germany said in a joint statement on Thursday
that European leaders would discuss a global solution to the
crisis on Sunday but no decisions would be adopted before a
second meeting to be held by Wednesday at the latest.

Oct 20, 2011

Franco-German split over bailout fund threatens summit

BRUSSELS/BERLIN, Oct 20 (Reuters) – Deep divisions between
France and Germany mean they are likely to make scant progress
on strengthening the euro zone bailout fund at a summit on
Sunday, fuelling investor concerns that Europe’s leaders are
failing to get a grip on the crisis.

Two euro zone officials said on Thursday France and Germany
were considering holding another euro zone summit next week to
try to bridge their differences, having already accepted that
they will not be able to strike a deal on Sunday Oct. 23.

Oct 19, 2011

Germany to slash 2012 growth forecast – sources

BERLIN (Reuters) – The German government will nearly halve its forecast for growth next year to about one percent, coalition sources said on Wednesday, underscoring fears about a significant slowdown in Europe’s biggest economy due partly to the debt crisis.

The government is due to announce its latest estimates for growth on Thursday.

Coalition sources told Reuters that Economy Minister Philipp Roesler would revise his previous forecast of 1.8 percent growth for next year to about one percent and that he would cut his 2011 forecast to 2.9 percent from three percent.