Gernot's Feed
Oct 7, 2013

Germany must invest to secure growth prospects – ECB’s Asmussen

POTSDAM, Oct 7 (Reuters) – Germany must boost investment to
secure its growth prospects, the German member of the European
Central Bank’s Executive Board said on Monday, while urging his
country’s leaders to form a government soon to enable progress
on European integration.

Joerg Asmussen also said Germany should broaden its
solidarity pact, under which state and local governments in west
provide funds for rebuilding the former Communist east, to cover
the whole country when it expires in 2019.

Oct 7, 2013

Europe needs Germany to form government soon: ECB’s Asmussen

BERLIN (Reuters) – European Central Bank Executive Board member Joerg Asmussen has urged Germany’s political leaders to press on with negotiations to form a new government in order to avoid further delays in crucial decisions for European integration.

The euro zone crisis and progress on the planned banking union will be among the main talking points at the upcoming autumn meeting of the International Monetary Fund in Washington, Asmussen said in a written response to Reuters questions.

Sep 5, 2013

U.S. stimulus pullback dominates G20 economy talks

PETERSBURG, Russia (Reuters) – Emerging and developed G20 powers struggled to find common ground on Thursday over the turmoil unleashed by the prospect of the United States reducing a flood of dollars to the world economy.

The Group of 20, which took the lead in responding to economic crisis in 2009, is now at odds as the U.S. recovery gains pace, Europe lags and developing economies face blowback from the looming ‘taper’ of U.S. monetary stimulus.

Sep 4, 2013

Exclusive – IMF sees emerging economies vulnerable to U.S. tapering

BERLIN (Reuters) – Advanced economies led by the United States will increasingly drive global growth while emerging countries are at risk of slowing due to tighter U.S. monetary policy, the International Monetary Fund said in a note obtained by Reuters on Wednesday.

In the surveillance note, prepared for the Group of 20 meeting in St. Petersburg, the IMF urged strengthened global action to revitalise growth and better manage risks, warning that some downside risks have become more prominent.

Sep 4, 2013

IMF sees emerging economies vulnerable to U.S. tapering

BERLIN (Reuters) – Advanced economies led by the United States will increasingly drive global growth while emerging countries are at risk of slowing due to tighter U.S. monetary policy, the International Monetary Fund said in a note obtained by Reuters on Wednesday.

In the surveillance note, prepared for the Group of 20 meeting in St. Petersburg, the IMF urged strengthened global action to revitalize growth and better manage risks, warning that some downside risks have become more prominent.

Aug 21, 2013

Germany tries to calm storm over minister’s Greek aid remarks

BERLIN, Aug 21 (Reuters) – Germany denied on Wednesday that
any decision had been taken on granting Greece another bailout,
playing down comments from its finance chief who broke a
pre-election taboo by describing a new rescue as inevitable.

Finance Minister Wolfgang Schaeuble’s comments, made at a
small campaign event in northern Germany on Tuesday, directly
contradicted the line of his boss Angela Merkel, who has said
repeatedly it is too early to discuss additional aid for Athens.

Aug 20, 2013

German minister’s Greek aid comments spark pre-election backlash

AHRENSBURG, Germany (Reuters) – German Finance Minister Wolfgang Schaeuble said on Tuesday for the first time that Greece will need another bailout, triggering a storm of protest from opposition parties five weeks before an election in Europe’s biggest economy.

While analysts have long predicted Greece will require more aid, albeit on a smaller scale than previous bailouts totaling about 240 billion euros ($320 billion), Chancellor Angela Merkel has tried to keep Greece out of her campaign for re-election to avoid angering German voters who fear they will foot the bill.

Aug 20, 2013

Greece will need third aid deal, German Finance Minister admits

AHRENSBURG, Germany (Reuters) – Germany’s finance minister admitted for the first time on Tuesday that Greece would need a third aid package, as a source in Athens said the sums involved in any new deal would be far smaller than previous rescues.

“There will have to be another program in Greece,” Wolfgang Schaeuble told a campaign audience in northern Germany, in comments that raised prospect of a step that could be deeply unpopular domestically just five weeks before national elections.

Aug 9, 2013

Germany likely grew by 0.75 percent in second quarter: deputy minister

BERLIN (Reuters) – The German economy expanded by 0.75 percent in the second quarter, its strongest rate in more than two years, but growth will slow in the second half of the year, German Deputy Economy Minister Bernhard Heitzer told Reuters on Friday.

Europe’s largest economy performed strongly during the early years of the euro zone crisis but only just managed to escape recession in early 2013, when a long, harsh winter dampened construction activity and exports were weak.

Aug 8, 2013

German report says car coolant ‘riskier but not dangerous’

BERLIN/FRANKFURT (Reuters) – A new air conditioning refrigerant used in cars poses no material risk to occupants even if it is more dangerous than an older alternative now being phased out to meet environmental rules, German officials said in a closely watched report.

The report by Germany’s Federal Motor Transport Authority (KBA) comes after France banned the sale of most of Daimler’s new model Mercedes cars using the older refrigerant, saying it did not meet new European environmental standards.