Gernot's Feed
Apr 5, 2011

Iran-India oil trade halted in Germany-official

BERLIN, April 5 (Reuters) – India has agreed to stop paying
for its Iranian oil imports via Germany, a German official said
on Tuesday, ending a trade conduit that had drawn strong
disapproval from the United States and Israel.

The decision was a result of consultations between Berlin
and New Delhi, and not pressure from Chancellor Angela Merkel at
home or abroad to disrupt the payment scheme, the high-ranking
government official said, declining to be named.

Feb 23, 2011

Golden share could be solution for EADS -Bruederle

BERLIN, Feb 23 (Reuters) – A golden share that would give
France and Germany veto rights on strategic issues could be a
solution to the issue of ownership in aerospace and defence firm
EADS (EAD.PA: Quote, Profile, Research, Stock Buzz), Germany’s Economy Minister said on Wednesday.

But this option was only one of many others and was not
discussed at a top-level government meeting on Wednesday,
Economy Minister Rainer Bruederle added.

Feb 19, 2011

China resisting G20 deal on indicators

PARIS (Reuters) – China was holding out on Saturday against an agreement among the world’s major economies on ways to measure and correct global economic imbalances, refusing to have its massive currency reserves used as an indicator.

Finance ministers and central bankers of the Group of 20 countries were struggling to agree on a set of yardsticks to identify problems that could cause another global financial crisis after senior officials failed to achieve a breakthrough in an all-night negotiating session, delegates said.

Feb 19, 2011

Germany hopes for G20 deal despite Chinese opposition

PARIS (Reuters) – Germany held out hope on Saturday for a G20 deal on measuring global economic imbalances despite stiff Chinese opposition to some of the indicators proposed.

China rejected plans on Friday to use real exchange rates and currency reserves to measure imbalances and said trade figures rather than current account balances should be used to assess economic distortions.

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.