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.
BERLIN (Reuters) – The United States and Japan must share responsibility with Europe for ensuring global economic stability, German Finance Minister Wolfgang Schaeuble said, signaling that a G20 meeting this weekend should not focus solely on the euro zone crisis.
Speaking in an interview before finance ministers and central bankers from the Group of 20 nations meet in Mexico, he said top economies must pursue structural reforms and fiscal consolidation to win back market trust and build sustainable growth.
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.
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”.
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.