LONDON/BERLIN, April 11 (Reuters) – Safe-haven Germany
offered the lowest ever return of 1.75 percent on its 10-year
government bonds on Wednesday, dampening demand for its debt
despite concerns about Spain and Italy.
Investors sold Spanish debt on Tuesday and yields jumped at
an Italian bill auction on Wednesday, on doubts about whether
those countries can keep debt and deficits in check. This had
drawn attention to the auction of Germany’s low risk debt.
BERLIN, April 9 (Reuters) – British photographer Richard
Pare is on a mission to capture Soviet avant-garde buildings
before they turn to ruins in the hope of raising awareness about
this little-known period of experimentation in modern
The exhibition “Building the Revolution: Soviet Art and
Architecture 1915-1935″, which opened in Berlin on Thursday,
displays his work in colour alongside black-and-white archive
photos of the buildings under construction and modernist Russian
BERLIN/BERN (Reuters) – Switzerland and Germany are to toughen their tax crackdown on secret Swiss bank accounts in a move that could pour billions of extra euros into German state coffers, but which does not go far enough for the country’s main opposition party.
The deal could end a diplomatic spat that has dragged on for years and net Berlin billions of euros in revenues from Germans who parked their cash in the small Alpine nation to avoid taxes, while preserving Switzerland’s cherished banking secrecy.
BERLIN/BERN, April 5 (Reuters) – Switzerland and Germany are
to toughen their tax crackdown on secret Swiss bank accounts in
a move that could pour billions of extra euros into German state
coffers, but which does not go far enough for the country’s main
Social Democrat (SPD) leader Sigmar Gabriel said his party
would vote against the revised deal when it goes to the
Bundesrat upper house of parliament, where Chancellor Angela
Merkel’s government needs opposition support to ensure passage.
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.
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
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.
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.
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.
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.
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