A leading member of Chancellor Angela Merkel’s Christian Democratic Union rejected coalition talks after Sunday’s elections with the Alternative for Germany party because of its anti-euro stance.
Official figures show Germany's budget surplus rose to 0.6% of GDP in the first half of the year, boosted by higher tax income. The government pulled in 321.4bn Euros in taxes, 3.8% more than a year ago thanks to its steady employment rate. The German Federal Statistical Office, Destatis, said the surplus was 8.5bn Euros in the period between January and June.
European stock markets mostly rose on Wednesday after official data showed that the Euro zone had finally escaped from a record 18-month recession. The Euro-zone climbed out of recession with surprisingly strong growth of 0.3 percent in the second quarter led by Germany and France, announced the European Union.
The military dictatorship that ruled Brazil from 1964 to 1985 was planning to develop an atomic bomb according to secret documents from the Armed Forces Chief of Staff to which the influential newspaper O Estado de Sao Paulo had access and released details.
Code name Bad Aibling. The US spy agency according to US whistle blower Snowden, worked hand in hand with Germans spy agency BND (BundesNachrichtenDiens) This is the result of an investigation by one of Germany's oldest and most established magazine Der Spiegel
German courts have rejected a petition from bondholders related to the Argentine debt 'default', using a similar interpretation based in the 'pari passu' clause that hedge funds pursued in New York which was accepted by Judge Thomas Griesa.
The weak state of the French economy and uncertain outlook for budget targets was in focus on Wednesday after official data confirmed that the country is in recession. Weak growth and public finances in France are of acute concern to the European Commission and to Germany which is the main powerhouse in the Euro zone.
The figures are also watched closely on nervous financial markets.
German Chancellor Angela Merkel met Pope Francis and, apparently responding to his criticism of a heartless dictatorship of the economy and the “cult of money”, called for stronger regulation of financial markets.
German President Joachim Gauck arrived on Sunday to Brazil with economic and trade issues as the centre of his visit. The trip to Sao Paulo marks the start of the Year of Germany in Brazil, which Gauck's predecessor Christian Wulff agreed on with Brazilian President Dilma Rousseff in May 2011.
Germany is keen to boost its already substantial investment in Brazil ahead of the 2014 World Cup and the 2016 Rio summer Olympics, the new president of the Brazil-Germany Chamber of Commerce said.