Gernot's Feed
Jul 17, 2013

German finance minister to offer Greece bilateral aid

BERLIN, July 17 (Reuters) – German Finance Minister Wolfgang
Schaeuble will offer Greece 100 million euros ($131 million) for
a fund to promote economic growth in a visit to Athens on
Thursday in a move unlikely to appease protesters who resent his
firm stance on austerity measures.

Tens of thousands of Greek workers have taken to the streets
to protest this week against government plans to fire public
sector employees to satisfy foreign lenders who granted
debt-stricken Greece a multi-billion euro aid tranche this
month.

Jul 16, 2013

Germany may consider Commerzbank stake sale after election

FRANKFURT (Reuters) – German policymakers may look at selling the state’s 17 percent stake in bailed-out lender Commerzbank (CBKG.DE: Quote, Profile, Research, Stock Buzz) after national elections in September, sources close to the leading political parties said.

Investment bankers have asked for meetings with the Finance Ministry to pitch their ideas for the state’s exit from the country’s second-largest lender, a person familiar with the German government said on Tuesday.

Jul 12, 2013

Germany, France split over EU banks plan

BERLIN/PARIS – July 12 (Reuters) – Germany and France were
split on Friday over European Union plans for a new agency to
wind down troubled banks, with Berlin saying they go too far in
centralising control in Brussels.

The body would form part of a banking union designed to
underpin confidence in the euro zone and end the previously
chaotic handling of cross-border bank collapses.

Jul 12, 2013

Commission wants too much power with bank plans – German finance minister

BERLIN (Reuters) – The European Commission is trying to pocket too much power with its proposals on how to salvage or shut failing euro zone banks, German Finance Minister Wolfgang Schaeuble said in a letter to the EU official in charge of the plans presented this week.

Schaeuble wrote in his letter to Michel Barnier, Commissioner for Internal Market and Services, that the proposal for the Commission to make the final decision on whether to wind down banks was out of step with European Union law.

Jul 12, 2013

Commission wants too much power with bank plans – German finmin

BERLIN, July 12 (Reuters) – The European Commission is
trying to pocket too much power with its proposals on how to
salvage or shut failing euro zone banks, German Finance Minister
Wolfgang Schaeuble said in a letter to the EU official in charge
of the plans presented this week.

Schaeuble wrote in his letter to Michel Barnier,
Commissioner for Internal Market and Services, that the proposal
for the Commission to make the final decision on whether to wind
down banks was out of step with European Union law.

Jul 12, 2013

Commission wants too much power with bank plans – German finmin

BERLIN, July 12 (Reuters) – The European Commission is
trying to pocket too much power with its proposals on how to
salvage or shut failing euro zone banks, German Finance Minister
Wolfgang Schaeuble said in a letter to the EU official in charge
of the plans presented this week.

Schaeuble wrote in his letter to Michel Barnier,
Commissioner for Internal Market and Services, that the proposal
for the Commission to make the final decision on whether to wind
down banks was out of step with European Union law.

Jul 5, 2013

Governments to target tech giants’ tax avoidance – draft

BERLIN/LONDON, July 5 (Reuters) – Western governments are
set to target a range of tax loopholes used by technology giants
including Apple, Amazon as part of an
international drive to tackle corporate tax avoidance, a draft
action plan seen by Reuters said.

The Organisation for Economic Co-operation and Development
(OECD), which advises its mainly rich nation members on economic
and tax policies, has been charged by the G20 group of countries
with formulating measures to stop big companies shifting profits
into tax havens.

Jul 4, 2013

Germany’s Merkel hopes for U.S. answers on spying

BERLIN/WASHINGTON (Reuters) – German Chancellor Angela Merkel said after a phone call with Barack Obama on Wednesday night that she believed the U.S. president took Germany’s concern over reported U.S. spying very seriously, and she hoped coming talks would bring answers.

Obama sought to allay the anger in Germany and other European allies in his call with Merkel, during which the chancellor said she made clear to him spying was not what she expected from countries considered friends.

Jun 16, 2013

Merkel’s challenger wells up after yet more strife

BERLIN (Reuters) – Peer Steinbrueck, the main opposition challenger to German Chancellor Angela Merkel, choked up during an interview on Sunday when he was asked about what motivated him to carry on despite all the pressure and criticism of his campaign.

In an extraordinary display of emotion from a man known for his abrasive style, Steinbrueck struggled to find words, and sighed heavily. As his eyes welled up, the audience at the event by his Social Democrat (SPD) party stood up and applauded.

May 11, 2013

G7 to press on with bank reforms, Japan escapes censure

AYLESBURY, England (Reuters) – Group of Seven finance officials agreed on Saturday to redouble efforts to deal with failing banks and gave a green light to Japan’s drive to galvanize its economy.

British finance minister George Osborne said the finance ministers and central bankers meeting 40 miles outside London focused on unfinished bank reforms, with signs that plans for a euro zone banking union are fraying.