Wolfgang Schaeuble

Germany's Schaeuble assails protectionism at IMF summit

Washington - AFP

German Finance Minister Wolfgang Schaeuble assailed the rise in protectionism and anti-free-trade sentiment Saturday in a statement that appeared aimed at the administration of US President Donald Trump. "We should all be concerned about slow global trade growth and increased anti-free-trade rhetoric. Both are a threat to our common economic prosperity," he said in a statement to the steering bodyRead more

Personalised banknotes for Schaeuble's farewell party

Luxembourg - AFP

Eurozone finance ministers deluged German Finance Minister Wolfgang Schaeuble with farewell gifts on Monday as the man who inspired Europe’s austerity answer to the debt crisis attended his last meeting with them. Schaeuble received a blue and gold EU flag autographed by each of his 18 colleagues, as well as a bundle of one-hundred euro notes especially made with aRead more

G20 agree growth must be 'more inclusive' to curb protectionism

Washington - Arab Today

Finance ministers from the Group of 20 major economies agreed that growth must be made "more inclusive" in order to prevent the rise of protectionism, German Finance Minister Wolfgang Schaeuble said Friday. "We need to tackle this, otherwise we will see more protectionism," he said after the G20 meeting, at which officials agreed on the "need to do more" toRead more

Cash must stay, even in digital age

Berlin - Arab Today

Cash is crucial, Germany’s economy minister said on Wednesday, defending the role of notes and coins in a debate in Europe about the merits of limiting cash payments to counter terrorism. The European Commission (EC) is weighing stricter rules on the use of cash to cut terrorists’ funding, and Germany’s Finance Ministry — led by conservative Wolfgang Schaeuble — hasRead more

Germany’s Schaeuble says EU to take tough stance in Brexit talks

Berlin - Arab Today

German Finance Minister Wolfgang Schaeuble told a German newspaper the European Union should take a tough stance in negotiations with Britain over its exit from the bloc after more than 40 years of membership. British Prime Minister Theresa May on Wednesday formally notified Brussels of Britain’s intention to quit the EU, triggering two years of talks to negotiate the termsRead more

EU, IMF in ‘common position’ on Greece crisis

Rrussels - Arab Today

Euro zone ministers sought Monday to break a deadlock with the International Monetary Fund (IMF) on Greece’s bailout, with Germany saying they had now reached a “common position.” Greece’s EU and IMF creditors have been locked for months in a standoff over debt relief for Greece and budget targets demanded from Athens. Markets have been spooked by fears of aRead more

German pride shifting to frustration in role as euro area’s growth driver

Frankfurt - Arab Today

Germany is cursed by its own economic strength. For eight years, the nation of 83 million people has been the euro area’s growth driver. Now it’s at the forefront of the currency bloc’s reflation, with price increases potentially exceeding 2 per cent, and dissatisfaction with the European Central Bank (ECB) has morphed into outrage. Critics and media are slamming theRead more

Germany denies devising Greek rescue plan without IMF

Berlin - Arab Today

Germany expects the International Monetary Fund to participate in Greece's bailout programme, a finance ministry spokeswoman said on Wednesday, rejecting a newspaper report that Berlin was preparing for a deal without the global lender. Divisions over labour reforms, fiscal targets and debt relief have prevented Greece and its foreign lenders from concluding a compliance review of its current bailout programme,Read more

Germany's Schaeuble urges ECB to start unwinding stimulus this year

Germany - NNA

The European Central Bank should start unwinding its ultra-loose monetary policy this year, German Finance Minister Wolfgang Schaeuble said in an interview to be published on Friday, adding that it would not be easy. "The European Central Bank will have the tough task of getting out of the ultra-expansionary monetary policy," Schaeuble told the Sueddeutsche Zeitung newspaper. "It would presumablyRead more

Bundesbank: Germany facing labor market bottlenecks

Frankfurt - Arab Today

Germany’s economy is on a solid upward path but weakening consumption growth and labor market bottlenecks could constrain its expansion in the coming years, the country’s central bank said. The state budget, already in the black, will continue to generate surpluses without new spending measures and state debt could fall to 60 percent of GDP, the government’s coveted level, byRead more