Recent tensions between the U.S. and other major economies over trade did not reemerge during Friday’s meeting of G20 finance ministers and central bank governors, fueling hopes global policy makers can avert an open dispute with the Trump administration over globalization, top German officials said.
British vote to leave the European Union would damage the British, European and global economies, German Finance Minister Wolfgang Schäuble said in an interview with the BBC
The United States warned on Friday of a possible accident for the world economy if Greece and its creditors miss their June deadlines to avert a debt default. Germany said there was no sign of a breakthrough. The ongoing debate is taking place in Dresden, Germany in the framework of G7 Finance ministers and central bank chiefs meeting.
Prime Minister David Cameron will hold an early referendum on membership of the European Union if he can first reach a deal that satisfies his demands for major changes in Britain's relationship with the bloc, his spokesman said yesterday.
Fifty one nations on Wednesday signed what was hailed as a milestone in the fight against tax evasion, an agreement that commits them all to automatic exchange of tax information starting in 2017. The accord capped a two-day meeting of officials from most of the 123 nations that have joined the Global Forum, which evolved from an agreement by Germany and Britain two years ago to crack down on tax evasion and tax fraud.
German Chancellor Angela Merkel on Tuesday rejected calls for Berlin to ditch its plans for a balanced budget next year and to instead invest more in order to shore up the faltering German and Euro zone economies. On Tuesday Germany slashed its 2014 growth forecast from 1.8% to 1.2%.
French President Francois Hollande and Mario Draghi the head of the European Central Bank (ECB) have agreed that European demand must be lifted to head off a risk of deflation, French officials said.
A German news magazine reported on Sunday that Chancellor Angela Merkel is unhappy with European Central Bank chief Mario Draghi for apparently proposing a greater emphasis on fiscal stimulus over austerity in order to boost growth in Europe.
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.
Britain’s refusal to contribute to the IMF for a Euro zone bailout fund has left the EU short of its 200 billion Euro target. The UK boycott leaves the Euro zone more reliant than ever on major economies such China and on Russia, which are willing to lend more to the IMF.