BERLIN/FRANKFURT (Reuters) – There is nothing to stop the European Central Bank cutting interest rates further, a senior policymaker said on Wednesday, adding to expectations it could act as soon as next week to counter dimming growth prospects and help tackle the euro zone crisis.
Executive Board member Peter Praet’s intervention followed his colleague Benoit Coeure, who said last week cutting rates was an option and one that would be discussed at the ECB’s July 5 meeting.
BERLIN, June 26 (Reuters) – Consumer morale in Germany
unexpectedly edged up going into July on improving income
expectations, but worries over the euro zone crisis risk hurting
consumption in the months ahead, a survey by GfK market research
group showed on Tuesday.
Other recent data has suggested Europe’s biggest economy is
losing stamina as austerity measures and worries over the crisis
hit investment and exports.
BERLIN, June 22 (Reuters) – German business sentiment fell
for a second straight month in June to its lowest level in over
two years, the latest sign Europe’s largest economy is no longer
immune to the sovereign debt crisis engulfing the euro zone.
Europe’s economic powerhouse had so far avoided the fate of
its euro zone peers thanks to strong exports away from the bloc
and healthy domestic demand, but increasing uncertainty over the
currency bloc’s prospects is starting to hit home.
BERLIN, June 21 (Reuters) – The German government and
opposition reached a deal on Thursday on growth that will allow
parliament to approve the euro zone’s permanent bailout scheme
next week, but Germany’s top court may delay the rescue fund’s
start date scheduled for July 1.
No sooner had Chancellor Angela Merkel’s government and the
centre-left opposition announced a breakthrough in eight weeks
of talks on how to stimulate growth and job creation in Europe
than the constitutional court threw a spanner in the works.
LONDON/BERLIN, June 13 (Reuters) – Uncertainty before Greek
elections prompted investors to pick up 10-year German bonds at
a sale on Wednesday, easing niggling concerns about the
country’s credit quality as the euro zone debt crisis drags on.
A sell-off in German debt over the past two sessions also
boosted demand for 4.04 billion euros of 10-year paper by
cheapening bond prices and pushing yields higher.
BERLIN, June 12 (Reuters) – Germany’s Angela Merkel and its
central bank pushed back on Tuesday against calls from other
parts of the euro zone for the rapid establishment of a banking
union, saying it could only come as part of a drive towards
The European Central Bank and European Commission are keen
to move swiftly to cross-border supervision of the bloc’s
biggest banks, and a deposit guarantee scheme, and see Spain’s
bank bailout as a first step in that direction.
BERLIN (Reuters) – Angela Merkel’s government was forced to defend an EU rescue for Spain’s indebted banks on Monday, with many Germans convinced their generosity is being abused and skeptics warning that promising aid without tough conditions sets a risky precedent.
Aides to the German chancellor justified the huge bailout on the grounds that the Spanish economy was not in such dire shape that it required the kind of terms imposed on Greece, and the aid would not be paid directly to Spanish banks but to the government.
KASSEL, Germany (Reuters) – Stroll through a park in the sleepy German town of Kassel this summer and you can explore fairytale cottages brimming with bizarre objects, hear the sounds of the Brazilian jungle and enter the set of a West African theatrical performance.
This is just one of the venues of “documenta”, one of the world’s biggest and most ambitious contemporary art fairs, which takes place every five years and which opens on Saturday.
MUNICH, May 23 (Reuters) – Germany’s best known economist
Hans-Werner Sinn wanted to become a missionary as a teenager.
His wife believes he is one.
The president of the influential Ifo think tank has been
advocating for Greece’s exit from the euro zone in newspapers
and talk shows for two years, convinced this is the only way for
the debt-laden country to avoid economic disaster and for
Germany to stop pouring money into a black hole.
BERLIN (Reuters) – Chancellor Angela Merkel fired her environment minister on Wednesday after he led her party to a regional election defeat, replacing him with a loyal conservative ally to push through her plans to take German energy into the post-nuclear era.
Norbert Roettgen, a Merkel protege once see as a possible successor, was removed after his campaign to be premier of the most populous German state, North Rhine-Westphalia, ended in a historic defeat for the Christian Democrats (CDU) on Sunday.