Gernot's Feed
Oct 16, 2012

Germany’s Schaeuble advocates leap in euro integration

ABU DHABI (Reuters) – German Finance Minister Wolfgang Schaeuble has called before an EU summit this week for a leap forward in European integration, saying the bloc needs a commissioner with power over member nations’ budgets and reform of European Parliament decision-making.

Such reforms would accelerate the trend towards a two-speed Europe whose inner core would be the euro zone, spurred towards closer union by its three-year-old sovereign debt crisis.

Oct 16, 2012

Germany’s Schaeuble urges big leap forward in euro integration

ABU DHABI, Oct 16 (Reuters) – German Finance Minister
Wolfgang Schaeuble has called for a great leap forward in
European integration ahead of a summit of EU leaders, urging the
creation of a new commissioner with power over budgets and
reform of European Parliament decision-making.

Schaeuble, a longtime advocate of closer EU integration who
is not shy about voicing his personal views, said he had spoken
with Chancellor Angela Merkel about his proposals and that she
was “somewhat more cautious”.

Oct 12, 2012

Europe uneasy in IMF spotlight as Tokyo meetings start

TOKYO (Reuters) – Greece, Spain and the euro zone’s slow progress toward debt reform took center stage at IMF meetings on Friday despite Europe’s best effort to remove itself from the spotlight.

The International Monetary Fund recommended that some of Europe’s debt-burdened countries take a bit more time to reduce budget deficits, arguing that moving too fast is counter-productive because it hurts the economy.

Oct 11, 2012

IMF calls for action as euro zone crisis festers

TOKYO (Reuters) – The IMF prodded Europe and the United States to act faster to resolve their debt troubles, blaming plodding progress for creating economic uncertainty and slowing global growth.

Christine Lagarde, the head of the International Monetary Fund, said she expected “courageous and cooperative action” as she laid blame on Europe and the United States for fostering a sense of unease that has led companies to delay investment and hiring.

Oct 6, 2012

EADS says continuing BAE merger talks with governments

BERLIN (Reuters) – EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) is continuing “constructive talks” with governments over its proposed $45 billion merger deal with BAE Systems (BAES.L: Quote, Profile, Research, Stock Buzz) and remains convinced that it is an excellent deal for Europe, a spokesman said on Saturday.

Tensions over the proposed supermerger spilled into the open on Friday, casting doubt on a rapidly approaching deadline as France, Britain and Germany jockeyed over the role of the state in the world’s largest aerospace and arms group.

Oct 6, 2012

EADS says continuing BAE merger talks with govts

BERLIN, Oct 6 (Reuters) – EADS is continuing
“constructive talks” with governments over its proposed $45
billion merger deal with BAE Systems and remains
convinced that it is an excellent deal for Europe, a spokesman
said on Saturday.

Tensions over the proposed supermerger spilled into the open
on Friday, casting doubt on a rapidly approaching deadline as
France, Britain and Germany jockeyed over the role of the state
in the world’s largest aerospace and arms group.

Oct 5, 2012

Spotlight on Germany as EADS, BAE inch towards deal

BERLIN/PARIS, Oct 5 (Reuters) – EADS and BAE
Systems have edged closer towards winning political
backing for a $45 billion merger to create the world’s biggest
arms group amid positive signals from Britain and France, but
German misgivings over control is a big obstacle, sources close
to the talks said.

A number of potential stumbling blocks have emerged since
the proposed tie-up between the Airbus manufacturer and the
British defence group was announced last month. These include
conflicting political interests in Britain, France and Germany,
as well as some shareholders’ dissatisfaction with the terms.

Oct 4, 2012

Focus on Germany as EADS, BAE inch closer to deal

BERLIN/PARIS (Reuters) – EADS and BAE Systems have edged closer towards winning political backing for a $45 billion merger amid positive signals from Britain and France, but German misgivings over control remain a major hurdle, sources close to the talks said.

EADS Chief Executive Tom Enders bowed to pressure for guarantees on safeguarding jobs but the offer drew no immediate response as the German government considered if and how to proceed with the deal to create a European aerospace giant.

Oct 2, 2012

France, Germany clash over EADS-BAE headquarters: sources

BERLIN/LONDON (Reuters) – France and Germany have collided over the location of the headquarters for a new aerospace giant to be formed from a planned merger of Europe’s EADS and Britain’s BAE Systems (BAES.L: Quote, Profile, Research, Stock Buzz), sources familiar with the matter said on Tuesday.

France wants the group’s headquarters to be based in Toulouse, its southwestern aerospace capital where the Airbus planemaking subsidiary of EADS is based, but Germany is pressing for the group to be headquartered outside Munich, they said.

Oct 1, 2012

EADS/BAE merger demands erupt as talks intensify

BERLIN/PARIS (Reuters) – Airbus parent EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) and arms group BAE Systems (BAES.L: Quote, Profile, Research, Stock Buzz) must restructure a $45 billion merger, a top shareholder said, as a government source threatened that Britain would block talks to create the world’s biggest defense company unless its demands were met.

Faced with a steep drop in global defense spending, EADS and BAE are re-examining a tie-up to create a European giant to compete with American heavyweights such as Boeing (BA.N: Quote, Profile, Research, Stock Buzz) which almost came about in the late 1990s.