Gernot's Feed
Sep 2, 2015

Germany deals blow to E.ON spin-off with draft law

BERLIN, Sept 2 (Reuters) – The German government plans to
close a legal loophole to prevent utility companies from evading
a 40 billion euro ($45 bln) payment to fund the country’s
nuclear exit, a copy of the draft law seen by Reuters shows.

The move deals a major blow to the country’s biggest utility
E.ON, which has announced plans to spin-off its
ailing power plants, blaming German energy policy that has
promoted renewables at the expense of conventional power. It
threatened legal action on Wednesday if the revision of the law
goes ahead.

Jul 20, 2015

Germany, Iran pledge to revive economic ties after long freeze

TEHRAN, July 20 (Reuters) – Germany and Iran moved
tentatively on Monday towards reviving a once close trade
relationship, anticipating the lifting of western economic
sanctions against Tehran following a landmark nuclear deal.

Economy Minister Sigmar Gabriel, making the first top level
German government visit to Tehran in 13 years, indicated that a
ministerial-level meeting of a long dormant German-Iran economic
commission would take place early next year in Tehran.

Jul 19, 2015

Germany says Iran must improve Israel relations for closer economic ties

TEHRAN, July 19 (Reuters) – German Vice Chancellor Sigmar
Gabriel urged Iran at the start of a three-day visit to improve
its relationship with Israel if it wanted to establish closer
economic ties with Germany and other western powers.

Gabriel, who is also economy minister, is the first senior
figure from a large western government to visit Iran since it
struck a landmark agreement with world powers on its nuclear
programme last week.

Jul 19, 2015

Obama sends Iran deal to wary Congress, Israel urges rejection

TEHRAN/WASHINGTON (Reuters) – President Barack Obama’s administration sent a nuclear agreement with Tehran to Congress on Sunday and Israeli Prime Minister Benjamin Netanyahu urged U.S. lawmakers to reject a deal he said would only feed an “Iranian terror machine”.

In a first concrete sign of European determination to quickly rebuild economic and political ties with Iran after a 12-year standoff, German Economy Minister Sigmar Gabriel arrived in Tehran with an economic delegation. Other European powers were expected to follow.

Jul 19, 2015

German minister travels to Iran after nuclear deal to re-establish ties

TEHRAN (Reuters) – German Economy Minister Sigmar Gabriel arrived in Iran with an economic delegation on Sunday, becoming the first high-ranking western politician to visit the country after it struck a nuclear deal with world powers.

By traveling to Tehran with a delegation of industry group representatives and company officials, Gabriel sends a strong signal that Germany wants to quickly rebuild economic and political ties with Iran after a 12-year standoff over Tehran’s nuclear program.

May 28, 2015

G7 finance chiefs discuss growth risks, urge deal on Greece

DRESDEN, Germany (Reuters) – Finance chiefs from the Group of Seven economic powers met on Thursday to discuss how to revive a faltering global recovery, with the United States leaning on Europe to reach a deal to avert a Greek bankruptcy.

The threat of a Greek default, rising oil prices and bond market turmoil are fuelling investor nervousness about an unwinding of the global economic recovery. A slowdown in China — not present at the talks in Dresden, Germany — is adding to the concern.

May 21, 2015

Germany’s Schaeuble welcomes rise in German Bund yields

BERLIN (Reuters) – German Finance Minister Wolfgang Schaeuble told Reuters that the recent rise in the yields of long-term German government debt was a move in the right direction and boded well for life insurers.

Last week, Germany’s 10-year borrowing costs rose at a debt auction for the first time since January 2014.

May 21, 2015

Greek optimism about imminent deal not justified: Schaeuble

BERLIN (Reuters) – German Finance Minister Wolfgang Schaeuble told Reuters the Greek government’s optimism about clinching a cash-for-reforms deal with its lenders in days was not backed up by negotiations and he could not rule out Greece becoming insolvent.

Greek Prime Minister Alexis Tsipras’s leftist government hopes a deal with foreign lenders is imminent, with Finance Minister Yanis Varoufakis saying on Monday that an agreement could be reached within a week.

Apr 15, 2015

Germans downbeat on chances of Greek deal next week

NEW YORK/ATHENS (Reuters) – Germany’s finance minister said on Wednesday there was no prospect of the euro zone reaching a deal with Athens next week on economic reforms that would unlock bailout funds, potentially leaving Greece perilously short of money.

Both the Greek government and its creditors have expressed the need for an agreement, at least in outline, to be reached when euro zone finance ministers meet in the Latvian capital Riga on April 24.

Apr 13, 2015

Germany needs to significantly increase investment: experts

BERLIN (Reuters) – Germany is not investing anywhere near enough and its public and private sector must boost spending to ensure Europe’s largest economy continues to grow and create jobs, a panel of experts said on Monday.

Marcel Fratzscher, head of the Berlin-based DIW economic institute, said the 21-member panel convened by Economy Minister Sigmar Gabriel to come up with a range of investment options had concluded that Germany was suffering from very weak investment.