BERLIN (Reuters) – European Central Bank President Mario Draghi gave a robust defense of his bond-buying plan to ease the euro zone’s debt crisis, telling skeptical German lawmakers that fears of illegal funding of governments or stoking inflation are misplaced.
Draghi emerged from the lion’s den of the Bundestag lower house smiling after a two-hour grilling behind closed doors on Wednesday on the ECB’s Outright Monetary Transactions (OMT) program, which the German central bank has denounced as tantamount to printing money to finance governments.
BERLIN, Oct 23 (Reuters) – Britain’s foreign secretary told
Germany on Tuesday his country was more disillusioned than ever
with the European Union and set out a vision of its future,
based on the premise “less is more”, that clashed directly with
Berlin’s plans for the euro zone.
William Hague dashed any hope of a conciliatory message to a
key European partner which fears Britain is gradually
withdrawing from the EU, saying Britons feel the Union “is a
great machine that sucks up decision-making”.
BERLIN, Oct 22 (Reuters) – Until recently, German officials
tended to down play divisions with Britain when pressed about
its semi-detached stance on Europe. Not any more. Now they tend
to make their irritation plain.
“If someone wants to leave, you can’t stop them,” said one
senior German official, summing up a view in Berlin that the
door is open if Britain really wants to quit the European Union.
BERLIN (Reuters) – Germany’s Angela Merkel called ahead of an EU summit for stronger central powers to intervene when member states break budget rules and rebuffed demands from Berlin’s partners for the quick creation of a pan-European bank supervisor.
In a speech to the lower house of parliament hours before EU leaders meet, the chancellor put herself on a collision course with French Socialist President Francois Hollande and others, who are reluctant to cede sovereignty over fiscal policy and want the ECB to get new watchdog powers by year-end.
LONDON/BERLIN, Oct 17 (Reuters) – Germany sold 4.2 billion
euros of two-year debt on Wednesday, drawing strong demand for
its safe-haven bonds as a rise in yields above zero offset the
impact of Spain retaining its investment grade credit rating.
Moody’s Investors Service kept Spain’s rating at Baa3,
surprising some in the market who had positioned for the country
at the forefront of the euro zone debt crisis to be downgraded
BERLIN, Oct 12 (Reuters) – Mexican President-elect Enrique
Pena Nieto tried on Friday to drum up German interest in his
plans to open up national oil company Pemex to the private
sector, but faced questions from potential investors about drug
violence in his country.
Pena Nieto, who takes office Dec. 1, laid out his plans to
deregulate Mexico’s labour market and change the law to allow
private investment in Pemex at a meeting in Berlin
organised by Deutsche Bank, Germany’s biggest bank.
BERLIN, Oct 11 (Reuters) – Mexican President-elect Enrique
Pena Nieto sought advice on Thursday on how to develop his
country’s renewable energy sector from Germany, a world pioneer
in the sector.
Pena Nieto, who takes office in December, kicked off a tour
of European capitals by discussing clean energy production, the
euro zone crisis and other issues with Chancellor Angela Merkel.
BERLIN (Reuters) – German newspapers attacked “ungrateful” Greeks for the hostile public reception they gave Angela Merkel in Athens and some criticized the chancellor’s generosity for promising they would stay in the euro zone – a message welcomed in Greece.
Pictures of a small group of Greek anti-austerity demonstrators dressed as Nazis, including one with a Hitler moustache waving a swastika, dominated German coverage of Merkel’s first visit to Athens since the sovereign debt crisis began three years ago.
BERLIN (Reuters) – The center-left challenger to German Chancellor Angela Merkel in next year’s elections, former finance minister Peer Steinbrueck, on Friday fended off criticism of his lucrative earnings from speeches, books and company boards.
The nomination of the 65-year-old Social Democrat (SPD) has prompted a slew of criticism of his high earnings outside the Bundestag (lower house) from Merkel’s center-right coalition but also from the SPD’s left wing and from anti-graft campaigners.
BERLIN (Reuters) – Peer Steinbrueck, an abrasive former finance minister, will lead the German Social Democrats’ challenge to unseat chancellor Angela Merkel in a parliamentary election a year from now.
Announcing their “chancellor candidate” some months earlier than expected, the centre-left opposition took Germany by surprise on Friday; Steinbrueck, a combative veteran from the right of the SPD, marked out a campaign theme of tougher rules for banks and a goal of coalition government with the Greens.