BERLIN (Reuters) – Angela Merkel’s conservatives on Thursday rejected U.S. criticism of Germany’s dependence on exports but her likely future coalition partner agreed Europe’s bulwark economy must do more to spur domestic demand.
The United States has long called for countries like China and Germany with trade surpluses to do more to spur imports but the Obama administration’s reprimand in a semi-annual report to Congress on Wednesday stood out for its stark language.
BERLIN (Reuters) – German business morale dropped for the first time in six months in October, underscoring the fragility of a recovery in Europe’s largest economy that is widely expected to pick up momentum next year.
The Ifo think tank said on Friday its business climate index, based on a monthly survey of 7,000 firms, dropped to 107.4 from 107.7 in September. The reading fell short of the consensus forecast in a Reuters poll of economists for a gain to 108.0, and nudged the euro lower against the dollar.
BERLIN, Oct 25 (Reuters) – German business morale dropped
for the first time in six months in October but economists said
the trend of a steady recovery in Europe’s largest economy
The Munich-based Ifo think tank said on Friday its business
climate index, based on a monthly survey of 7,000 firms, fell to
107.4, missing the consensus forecast in a Reuters poll for a
gain to 108.0.
BERLIN, Oct 23 (Reuters) – It used to take just one night
for Burkhard Dahmen to send his firm’s giant steel rollers to
port for export. Now his trucks need eight days to navigate a
tortuous route of small roads and canals because motorways
cannot bear the load.
A chronic lack of investment in German infrastructure has
forced bridges to close and led to restrictions on the use of
the country’s autobahns, compelling firms like Dahmen’s SMS
Siemag to make costly diversions. His transport costs have risen
fivefold in just five years.
BERLIN (Reuters) – Germany’s leading economic institutes warned ahead of a round of coalition talks on Thursday against the introduction of a new minimum wage of 8.50 euros per hour, saying the move could lead to significant job losses in eastern Germany.
The center-left Social Democrats (SPD) have said they will refuse to form a government with Chancellor Angela Merkel’s conservatives unless they agree to a nationwide minimum wage.
BERLIN, Oct 8 (Reuters) – German exports revived slightly in
August, rising more than imports and widening the trade surplus,
which suggests foreign trade may drag on full-year growth in
Europe’s largest economy but is picking up some steam.
Seasonally-adjusted exports gained 1.0 percent on the month,
data from the Federal Statistics Office showed, coming in just
under the consensus forecast in a Reuters poll for an increase
of 1.5 percent, while imports were up 0.4 percent.
BERLIN (Reuters) – Germany’s Greens will elect a new, more centrist parliamentary leader and hold talks with Angela Merkel’s conservatives this week to explore prospects for what would be a landmark coalition with their former political arch enemies.
“The chances of a coalition with the Greens have risen in recent days from ‘theoretical’ to ‘conceivable’,” conservative Environment Minister Peter Altmeier told Der Spiegel magazine over the weekend.
BERLIN, Oct 4 (Reuters) – German Chancellor Angela Merkel
holds preliminary talks with the Social Democrats (SPD) on
Friday to sound out the chances of forming a “grand coalition”
government, marking the start of complicated horse-trading that
could last two months or more.
The SPD is considered the most likely coalition partner for
Merkel’s conservatives but has warned it will not be rushed into
a deal. Merkel will also hold preliminary talks with the Greens
next week, playing potential partners off against each other.
BERLIN, Oct 4 (Reuters) – Angela Merkel holds preliminary
talks with the Social Democrats (SPD) on Friday to sound out the
scope for compromises to form a “grand coalition”, marking the
start of complicated horse-trading that could drag on into next
Germany’s European partners are watching the coalition
manoeuvring in Berlin closely, concerned that delays could push
back EU-wide decisions on important financial crisis-fighting
measures like the ambitious banking union project.
BERLIN, Sept 26 (Reuters) – The shock ejection of the Free
Democrats (FDP) from parliament in a German election on Sunday
has been greeted with a fair amount of “Schadenfreude” in Berlin
But there is one group that is not celebrating – the small
and medium-sized businesses, known as the Mittelstand, that form
the backbone of the German economy and employ two of every three
workers in the country.