Gernot's Feed
Feb 18, 2011

G20 wrangles over imbalance indicators, inflation

PARIS (Reuters) – The world’s major economies were split on Friday over how to measure imbalances in the global economy to help avert future financial crises, Japan’s finance minister said, but negotiators said a compromise was possible.

Speaking hours before the start of a meeting of G20 finance ministers and central bankers, Yoshihiko Noda said he was not sure they would reach any agreement on a set of indicators to assess economic equilibrium.

Feb 18, 2011

G20 split on imbalance indicators, monetary policy

PARIS (Reuters) – The world’s major economies were split down the middle on Friday over how to measure imbalances in the global economy in a bid to avert future financial crises, Japan’s finance minister said.

Speaking hours before the start of a meeting of G20 finance ministers and central bankers, Yoshihiko Noda said he was not sure they would reach any agreement on a set of indicators to assess economic equilibrium.

Feb 10, 2011

Weber to meet Merkel over his ECB withdrawal

BERLIN/PARIS (Reuters) – Bundesbank chief Axel Weber will meet German Chancellor Angela Merkel on Friday to discuss his future after the leaked disclosure of his withdrawal from the ECB presidency race hit markets and put her under fire.

Weber kept markets guessing on Thursday by insisting at a public appearance in Vienna that he would not comment in public on his professional future until he had met Merkel.

Feb 10, 2011

Weber to meet Merkel over his shock ECB withdrawal

BERLIN/PARIS, Feb 10 (Reuters) – Bundesbank chief Axel Weber
will meet German Chancellor Angela Merkel on Friday to discuss
his future after the leaked disclosure of his withdrawal from
the ECB presidency race hit markets and put her under fire.

Weber kept markets guessing on Thursday by insisting at a
public appearance in Vienna that he would not comment in public
on his professional future until he had met Merkel.

Feb 9, 2011

German government seeks new EADS investor-sources

BERLIN, Feb 9 (Reuters) – The German government is seeking
a new private investor for European aerospace and defense group
EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) in light of the possible departure of a major
German shareholder, government sources told Reuters on
Wednesday.

Economy Minister Rainer Bruederle tasked his staff with the
search, they said, adding that they were expecting all along
that large shareholder Daimler AG (DAIGn.DE: Quote, Profile, Research, Stock Buzz) would likely
reduce its EADS stake next year, much as it did in 2006 and
again in 2007.

Jan 28, 2011

Europe may hold early euro summit in March

BERLIN/DAVOS, Jan 28 (Reuters) – Europe signalled increased
urgency on the eurozone crisis on Friday with the possibility of
a special summit sooner than expected, while Germany aired the
reforms it might want in exchange for more emergency support.

With German opposition to increasing the euro bailout fund
appearing to soften, euro zone sources said the European Union
was considering extending bailout loans to Greece and Ireland to
30 years in a bid to draw a line under the bloc’s debt crisis.

Jan 28, 2011

German paper urges euro zone pact on pay, corporate tax

BERLIN, Jan 28 (Reuters) – A German discussion paper from
Chancellor Angela Merkel’s office proposes a euro zone pact to
improve competitiveness by targeting European states’ wage
costs, public finances and corporate taxation.

The paper, seen by Reuters on Friday, says the most urgent
measures should be agreed in a package to be implemented within
a year and the pact could be enforced by financial sanctions.
Non euro zone members could be invited to join in, it said.

Jan 26, 2011

Schaeuble makes case for euro economic government

BERLIN, Jan 26 (Reuters) – The members of the euro zone
must act quickly to establish an economic government in the
bloc, one that must be accessible to other European Union
nations, German Finance Minister Wolfgang Schaeuble said on
Wednesday.

The veteran conservative politician, in a speech at
Berlin’s Humboldt University, also said he believed the EU
would emerge stronger than ever from the financial crisis and
said he did not believe the euro was in danger.

Dec 1, 2010

Germany: euro member insolvency possible in theory

BERLIN (Reuters) – Germany said on Wednesday a euro zone nation can “in principle” become insolvent, but reassured its own taxpayers they would not end up footing the bill for any rescue package against the will of the German people.

With the crisis in the 16-nation currency bloc deeping after the Irish bailout on fears that euro-zone member states might be forced to default on their debt, German Economy Minister Rainer Bruederle said Portugal and Spain were not going to need help.

Nov 12, 2010

EU ready to deal with any Irish aid request

12 (Reuters) – Leaders from Britain, Germany and
France held emergency talks at the Group of 20 leaders meeting
after panic selling of Irish debt that has put its bond spreads
out to a record over Germany, infecting Spain and Portugal.

German Finance Minister Wolfgang Schaeuble castigated
investors who fear that Ireland may become the first euro zone
country to default, saying they had failed to understand European
Union support mechanisms that a country could call on.