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Apr 2, 2012

German wage deal could pave way for much-needed consumption boost

BERLIN, April 2 (Reuters) – A German public sector wage rise
secured at the weekend is likely to bolster wage demands in the
private sector that will pressure companies but could also pave
the way for a much-needed revival of consumption without risking
undue inflation pressure.

Under a deal agreed on Saturday, around 2 million public
sector workers are set for a 3.5 percent pay increase this year
and a 6.3 percent increase over two years, including this year.

Mar 30, 2012

Germany says Schlecker workers will find new jobs

BERLIN, March 30 (Reuters) – Thousands of workers at
insolvent Schlecker drug store chain will soon find new jobs in
Germany’s buoyant economy, the government said on Friday, after
regional leaders failed to agree a rescue package for the ailing
retailer.

Union leaders, politicians and media have criticised
Chancellor Angela Merkel’s junior coalition partner, the
low-tax, pro-business Free Democrats (FDP), for torpedoing plans
for a 71 million euro loan guarantee to set up an agency for the
retraining and job placement of 11,000 Schlecker employees.

Mar 30, 2012

German retail sales fall unexpectedly in February

BERLIN, March 30 (Reuters) – German retail sales fell
unexpectedly in February, down 1.1 percent on a monthly basis in
real terms, denting hopes that private consumption will support
Europe’s largest economy in the first quarter.

The notoriously volatile indicator has fallen four out of
the last five months, contrasting with expectations for retail
to hold up well in the light of a robust labour market.
Economists polled by Reuters had forecast retail sales to rise
1.2 percent on the month.

Mar 29, 2012

German jobless rate falls to new record low

BERLIN (Reuters) – Germany’s jobless rate dropped to a new post-reunification low of 6.7 percent in March, bucking the trend in other euro zone countries and bolstering hopes that private consumption will underpin Europe’s largest economy this year.

Seasonally-adjusted data from the Labor Office showed that unemployment dropped for a fifth consecutive month in March by a stronger-than-expected 18,000 to a total of 2.841 million. The consensus forecast in a Reuters poll of 35 economists was for joblessness to drop by 10,000.

Mar 26, 2012

Germany’s Pirate Party come of age after second triumph

BERLIN, March 26 (Reuters) – The startling success of
Germany’s new Pirate party in Sunday’s state elections in
Saarland underscores its status as a political force to be
reckoned with, as it is already shaking up established party
dynamics ahead of next year’s federal vote.

The Pirate Party, whose eclectic campaign is focused on
internet policies and broader participation in the political
debate, stormed onto the German political scene last year by
seizing 8.9 percent of votes for Berlin’s city assembly.

Mar 23, 2012

Germany, Switzerland rush to seal bank tax pact

ZURICH/BERLIN, March 23 (Reuters) – Germany and Switzerland
are rushing to revise a tax deal on offshore accounts by the end
of March in an effort by Swiss officials to preserve the secrecy
underpinning the country’s $2 trillion banking industry.

The pact is meant to form the cornerstone of Switzerland’s
efforts to maintain its long-held banking secrecy by taxing
Swiss accounts and levying a punitive rate of interest for
undeclared money.

Mar 22, 2012

German jobless to fall in 2012 – institute

BERLIN, March 22 (Reuters) – German unemployment will fall
for the third consecutive year in 2012 and the number of jobs
will reach a fresh record high since reunification, the Federal
Labour Office’s research institute IAB said on Thursday.

But the pace of decline in the number of jobless will ease
as the impact of past labour reforms designed to increase labour
flexibility gradually subsides, and the IAB urged employers to
create more well-paid jobs to help boost domestic demand.

Mar 15, 2012

Built by forced labor, German bunkers become homes

BREMEN, Germany (Reuters) – German architect Rainer Mielke lives in a luxurious, light-filled penthouse atop a Nazi bunker that his elderly neighbors remember sheltering in during World War Two.

The architect has pioneered the art of converting the grim structures into bright living or working spaces, and his work is set to increase as Germany ramps up sales of the above-ground forts, originally designed as air-raid shelters.

Mar 14, 2012

Wunderkammer offers escape from Berlin art scene

BERLIN (Reuters) – To reach the Secret Cabinet, you pick up a map at a kiosk that leads you around the street corner to a tall, bottle green door that you enter to reach a flat whose backroom is carpeted with mirrors and stuffed with artworks.

This modern-day cabinet of curiosities or Wunderkammer, exhibiting the works of some 45 Berlin-based artists, is a protest against the way the social merry-go-round of Berlin’s art scene increasingly risks overshadowing the actual art.

Mar 10, 2012

German SPD wants concessions for backing fiscal pact

BERLIN, March 10 (Reuters) – Germany’s opposition
Social Democrats (SPD) will back new euro zone budget discipline
rules on condition the government agrees extra measures like a
financial transaction tax, SPD leader Frank-Walter Steinmeier
told a German daily.

Chancellor Angela Merkel requires a two-thirds majority in
both houses of parliament to get new euro zone budget discipline
rules approved at home, given that they would affect national
sovereignty, making her dependent on the opposition.

    • About Sarah

      "Sarah covers economic and political news from Argentina as part of the Reuters Latin America reporting team. The focus this year is on a shift in policy ahead of key elections in late 2015 and signs of a slowdown in an economy marked by one of the world’s highest inflation rates. Sarah moved to Buenos Aires in 2014 from Berlin, where she reported on Europe’s largest economy for five years during the euro zone debt crisis. She joined Reuters as a graduate trainee in the London HQ in 2007 and has also done assignments in Frankfurt and Vienna. ..."
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