A leading German economic research institute has come up with one way to help countries involved in the euro crisis pay down their sovereign debt: get the wealthiest citizens to pay higher taxes, or force them to loan money to their governments.
An IMF report revealed that the German economy’s performance has been remarkable despite facing considerable headwinds and that the US recovery “remains tepid and subject to elevated downside risks.”
As expected, more than two-thirds of the lawmakers in Germany's parliament moved on Friday to approve the permanent Euro rescue fund, the European Stability Mechanism, and a fiscal pact long championed by Chancellor Angela Merkel.
As was anticipated and ahead of a crucial European Union leaders summit Chancellor Angela Merkel’s Cabinet approved on Wednesday a spending plan that balances Germany’s federal budget three years earlier than required by its own rules.
Greece's new government should stop asking for more help and instead move quickly to enact reform measures agreed to in return for previous bailouts from its European partners, German Finance Minister Wolfgang Schaeuble said.
Germany's best-selling newspaper was given away free to almost all of the country's 41 million households on Saturday in a controversial celebration of the daily's 60th anniversary that set a world record for largest circulation.
The German government and opposition reached on Thursday a deal that will allow parliament to approve the European Stability Mechanism, ESM, next week, but Germany's top court may delay the rescue fund's start date, saying it needed time to study the treaty.
European governments signaled a willingness to relent on Greece’s austerity measures as leaders turn from an election victory by Greek bailout proponents to focus on safeguarding the other 98% of the Euro economy
Germany's Angela Merkel regretted the lack of confidence among Euro leaders and warned against “mediocrity” as she stood firm against “growth quick fixes” to Europe's crisis.
Chancellor Angela Merkel rebuffed pressure for Germany, Europe's most powerful economy, to underwrite debt or guarantee bank deposits in the euro zone.