WASHINGTON (Reuters) – World financial leaders urged the European Union on Friday to quickly complete its banking union to help growth, but Germany stood firm that the next step toward such a union be through a lengthy and risky process – a change of EU law.
The banking union is one of the key projects to improve the economy of the 17 countries sharing the euro. It would help eliminate many of the problems that now hold back the flow of credit needed to finance a euro zone economic recovery.
BERLIN (Reuters) – The German government trumpeted its finances on Wednesday as a model for Europe and a source of envy across the globe, as it presented a budget plan which foresees new borrowing shrinking next year to its lowest level in four decades.
The long-term plan approved by Chancellor Angela Merkel’s cabinet is a testament to Germany’s economic strength during the euro zone debt crisis but underscores the deep divide in Europe, where many countries are still struggling to bring down swollen debt and deficits.
MOSCOW (Reuters) – The Group of 20 nations declared on Saturday there would be no ‘currency war’ and deferred plans to set new debt-cutting targets in an indication of concern about the fragile state of the world economy.
Japan’s expansive policies, which have driven down the yen, escaped criticism in a statement agreed in Moscow by financial policymakers from the G20, which groups developed and emerging markets and accounts for 90 percent of the world economy.
MOSCOW, Feb 15 (Reuters) – It may not be hand-to-hand
combat, but ‘currency wars’ came to Moscow on Friday as finance
officials from the Group of 20 nations sparred over Japan’s
expansive policies that have driven down the value of the yen.
The G20 forum, which put together a huge financial backstop
to halt a market meltdown in 2009, is back in the spotlight
after a week in which the Group of Seven rich nations tried, and
spectacularly failed, to speak on currencies with one voice.
MOSCOW (Reuters) – It won’t quite be hand-to-hand combat, but ‘currency wars’ will come to Moscow on Friday as finance officials from the Group of 20 nations spar over Japan’s expansive policies that have driven down the value of the yen.
The G20 forum, which put together a huge financial backstop to halt a market meltdown in 2009, is back in the spotlight after a week in which the Group of Seven rich nations tried, and spectacularly failed, to speak on currencies with one voice.
BERLIN (Reuters) – Germany will avoid recession in 2013 and achieve growth rates similar to 2012, Dieter Hundt, leader of Germany’s employer association, said in an interview with Reuters.
“I’m expecting that we won’t experience recession in Germany next year and the economy will once again grow at similar levels as this year,” Hundt said.
BERLIN, Dec 12 (Reuters) – The German government on
Wednesday grabbed the top spot in the country’s property deals
this year by agreeing to sell a portfolio of commercial
properties to investor Lone Star for 1.1 billion euros
The sale completes the privatisation of state-owned real
estate firm TLG Immobilien, after the government sold its
residential properties to real estate group TAG Immobilien
last month for nearly 500 million euros.
PARIS (Reuters) – Shares in EADS rose on Monday as European nations raced towards a deal aimed at overhauling a convoluted shareholder structure at Europe’s largest aerospace group.
The Airbus parent company said it was in talks on the company’s ownership with France, German and Spain, confirming press reports.
MEXICO CITY (Reuters) – The world’s leading economies gave themselves a bit more wiggle room on Monday to meet targets for cutting budget deficits rather than risk worsening a slowdown in many countries, chief among them the United States.
Meeting a day before the U.S. presidential election, which is being disputed largely on tax and spending issues, the Group of 20 countries worried that previous commitments to cut in half the budget shortfalls of advanced economies by the end of next year might hurt the struggling global economy.
MEXICO CITY (Reuters) – Britain and Germany are leading a push in the Group of 20 economic powers to make multinational companies pay their “fair share” of taxes following reports of large firms exploiting loopholes to avoid taxes.
British Finance Minister George Osborne said at a G20 meeting in Mexico City on Monday that discussions showed there was “widespread support” for the joint initiative.