Senior Economics Correspondent, Germany
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Jun 6, 2015

Protesters clash with police ahead of G7 summit in Bavaria

GARMISCH-PARTENKIRCHEN, Germany, June 6 (Reuters) -
P rotesters clashed with police in the German resort town of
Garmisch-Partenkirchen on Saturday as thousands demonstrated
against a meeting of Group of Seven (G7) leaders that starts on
Sunday at a nearby luxury hotel.

Police responded with pepper spray when a group of marchers
tried to break through their cordon. Scuffles broke out and at
least one protester was carried away by paramedics.

Jun 6, 2015

Thousands protest in Bavaria ahead of G7 summit

GARMISCH-PARTENKIRCHEN, Germany (Reuters) – Thousands of demonstrators marched in the German resort town of Garmisch-Partenkirchen on Saturday to protest against a meeting of leaders from the Group of Seven (G7) industrial nations that starts on Sunday at a nearby luxury hotel.

Carrying banners reading “Fight G7 for Revolution” and “G7 go to hell! I like Putin”, the protesters converged near the railway station in the picturesque sun-drenched town at the foot of Germany’s highest mountain, the Zugspitze.

May 29, 2015

G7 agree in principle on China joining IMF’s major league

DRESDEN, Germany, May 29 (Reuters) – Finance chiefs from the
Group of Seven industrial nations agreed on Friday that
including China’s renminbi in the International Monetary Fund’s
currency basket is desirable, but a technical review must be
completed first.

The inclusion of the renminbi, also known as the yuan, as
part of the IMF’s unit of account would mark another stage in
China’s rise as a global economic player, requiring the United
States to accept a dilution of its power in international
finance.

May 29, 2015

U.S. warns G7 of global economy “accident” without Greece deal

DRESDEN, Germany, May 29 (Reuters) – The United States
warned on Friday of a possible accident for the world economy if
Greece and its creditors miss their June deadlines to avert a
debt default.

Germany said there was no sign of a breakthrough.

With Athens struggling to make repayments due next month,
the debt stand-off between Greece and its European Union
partners overshadowed a meeting of policymakers from the Group
of Seven rich nations otherwise held to focus on ways to get the
global economy growing strongly again.

May 28, 2015

G7 finance chiefs discuss growth risks, urge deal on Greece

DRESDEN, Germany (Reuters) – Finance chiefs from the Group of Seven economic powers met on Thursday to discuss how to revive a faltering global recovery, with the United States leaning on Europe to reach a deal to avert a Greek bankruptcy.

The threat of a Greek default, rising oil prices and bond market turmoil are fuelling investor nervousness about an unwinding of the global economic recovery. A slowdown in China — not present at the talks in Dresden, Germany — is adding to the concern.

May 27, 2015

G7 finance chiefs ponder flagging growth amid Greek crisis fears

DRESDEN, Germany (Reuters) – G7 ministers and central bank heads convened on Wednesday to discuss how to revive global growth and China’s increasing clout, while keeping a close eye on the protracted talks to avoid a Greek default.

Although the Greek crisis is not on the official agenda for the three-day meeting in the German city of Dresden, it will be discussed on the sidelines.

May 27, 2015

G7 finance chiefs ponder flagging growth, Greek risk

DRESDEN, Germany, May 27 (Reuters) – Little more than a
gentlemen’s club in recent years, G7 finance ministers and
central bankers have their work cut out this week to revive
stuttering global growth and defuse tensions over China’s
growing economic clout.

Topping the agenda for the finance chiefs from the Group of
Seven industrial nations is how to keep a faltering global
recovery on track as the threat of a Greek default, rising oil
prices and bond market turmoil fuel investor nervousness.

May 27, 2015

G7 finance chiefs meet with growth problem to fix

DRESDEN, Germany, May 27 (Reuters) – Little more than a
gentlemen’s club in recent years, G7 finance ministers and
central bankers have their work cut out this week to revive
stuttering global growth and defuse tensions over China’s claims
to economic power.

Topping the agenda for the finance chiefs from the Group of
Seven industrial nations is how to keep a faltering global
recovery on track as the threat of a Greek default, rising oil
prices and bond market turmoil fuel investor nervousness.

Apr 2, 2015

ECB policymakers agree to ‘remain firm’ in executing bond-buy plan: minutes

FRANKFURT (Reuters) – European Central Bank policymakers agreed at their March meeting to “remain firm” in implementing their large-scale asset-purchase program, even though the economic outlook is improving, records published on Thursday showed.

The Governing Council, at its policy meeting on March 5, said it would begin printing money to buy bonds — so-called quantitative easing (QE) — on the following Monday (March 9). It also presented updated forecasts from its staff economists that gave a more rosy outlook, but policymakers agreed that did not reduce the need for QE.

Mar 31, 2015

Analysis – How Grexit bill could dig deep into ECB pockets

FRANKFURT (Reuters) – A Greek departure from the euro could expose the European Central Bank to losses on tens of billions of credit, a hole Germany and other euro members may have to fill.

As political wrangling with Athens freezes the country’s access to loans from euro zone states, Greece has been drawing heavily on the ECB, running up an ever larger tab.

    • About Paul

      "I lead our economic news file from Berlin, where we report on the performance of the German economy – Europe’s largest – and economic policy: everything from financial regulation to dealing with the euro zone debt crisis. I previously reported on political and economic news from Paris and on earlier assignments worked in Frankfurt, Vienna and London."
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