Gernot's Feed
Mar 26, 2012

Germany says euro zone transaction tax won’t work

BERLIN, March 26 (Reuters) – Finance Minister Wolfgang
Schaeuble conceded for the first time on Monday that efforts to
get a financial transaction tax implemented in the euro zone
were doomed.

“We just can’t get it done,” Schaeuble said in Berlin,
referring to efforts led by Germany and France to introduce a
levy to replenish government coffers hit by the financial
crisis.

Mar 15, 2012

Germany wants to reopen Swiss tax deal talks – sources

BERLIN (Reuters) – Germany wants to reopen talks with Switzerland on a deal to stop its citizens dodging taxes after opposition parties said it was too soft on tax evaders and threatened to block it, sources said.

Berne said on Thursday it was ready to continue talking but did not want to change the core of the deal.

Mar 2, 2012

Germany to push for fair share of Airbus ops

BERLIN, March 2 (Reuters) – Germany said Airbus should
locate more of its activities in the country and hire equal
numbers of French and German executives, provoking the European
aerospace group to say it would not tolerate such meddling.

The spat comes at a sensitive time as Germany prepares to
buy a 7.5 percent stake in Airbus parent EADS from
Daimler, and as Airbus chief executive Thomas Enders
prepares to take the helm at EADS.

Feb 26, 2012

G20 to Europe: show us the money

MEXICO CITY, Feb 26 (Reuters) – Leading economies told
Europe it must put up extra money to fight its debt crisis if it
wants more help from the rest of the world, piling pressure on
Germany to drop its opposition to a bigger European bailout.

Euro zone countries pledged on Sunday at a Group of 20
meetings of finance leaders to reassess the strength of their
bailout fund in March, which could clear the way for other G20
countries to contribute more funds to the International Monetary
Fund.

Feb 26, 2012

G20 works on huge rescue deal for April

MEXICO CITY (Reuters) – Leading economies told Europe it must put up extra money to fight its debt crisis if it wants more help from the rest of the world, piling pressure on Germany to drop its opposition to a bigger European bailout.

Euro zone countries pledged on Sunday at a Group of 20 meetings of finance leaders to reassess the strength of their bailout fund in March, which could clear the way for other G20 countries to contribute more funds to the International Monetary Fund.

Feb 15, 2012

ECB ready to forego Greece bond profit

BERLIN (Reuters) – European Central Bank policymakers said they have no wish to book a profit on Greek sovereign bonds the ECB holds and gave a green light on Wednesday for euro zone member states to pass on the funds to Greece.

Joerg Asmussen and Luc Coene both backed an idea floated by ECB President Mario Draghi last Thursday for the central bank to help Athens indirectly by relinquishing the bond profits – a move that could help Athens avoid a chaotic default.

Jan 23, 2012

Germany, France press for rapid Greek debt deal

PARIS/BERLIN, Jan 23 (Reuters) – Germany and France
pressed on Monday for a rapid deal between Greece and its
private creditors that cuts its soaring debt to sustainable
levels and said they were committed to a sealing a new bailout
for Athens by March to avert a disastrous default.

Euro zone finance ministers met in Brussels to discuss the
terms of a Greek debt restructuring and new treaties that will
pave the way for tighter fiscal discipline and a new rescue fund
the bloc wants in place by mid-year.

Jan 23, 2012

Germany, France press for Greek debt deal

PARIS/BERLIN (Reuters) – Germany and France pressed on Monday for a rapid deal between Greece and its private creditors that returns its soaring debt to sustainable levels and said they remained committed to a new bailout that is needed by March to avert a disastrous default.

Euro zone finance ministers are due to decide later on Monday what terms of a Greek debt restructuring they are ready to accept as part of a second rescue for Athens.

Dec 26, 2011

German industry leaders see no 2012 recession

BERLIN, Dec 26 (Reuters) – The leaders of Germany
major business and industry groups said they expect the
country’s economy to lose momentum though not enter recession in
2012, weighed down by the euro zone’s debt crisis.

In interviews with Reuters released on Monday, they also
said they do not expect the euro to fail though they agreed the
region’s crisis looms as a major threat to growth and stability
in Europe and the United States.

Nov 17, 2011

EU’s Barnier eyes rethink on zero-risk bank rule

BERLIN/LONDON, Nov 17 (Reuters) – A top European Union
official wants a rethink of a rule seen as discredited by the
euro zone crisis that allows banks to avoid setting aside
capital against risky sovereign debt holdings.

Under the rule, a bank holding sovereign bonds denominated
in the currency it operates in can treat them as having a zero
risk weighting when calculating the size of its capital buffer.