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Keyword: socialmarketeconomy

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  • Frankfurt attempts to charm banks away from London

    08/24/2016 12:43:44 AM PDT · by Olog-hai · 4 replies
    TheLocal.de ^ | 24 Aug 2016 08:54 GMT+02:00 | AFP
    The marketing team of Frankfurt never expected its English-language dummy website to attract new businesses would actually go live after Britain’s European Union referendum. “We hadn’t really assumed that we would need the site at all,” spokeswoman Michaela Kahle told AFP, as the team thought Britons would surely vote “Remain”. But as it turned out, the Welcome to FrankfurtRheinMain site was not only put to good use, but has become a hit, with 27,000 views since Britain stunned the world by deciding to leave the bloc. Quickly recovering from the shock, Kahle and her colleagues kicked into action, fielding inquiries...
  • German Federal Bank wants to raise retirement age to 69

    08/15/2016 8:46:16 AM PDT · by Olog-hai · 41 replies
    TheLocal.de ^ | 15 Aug 2016 16:28 GMT+02:00 | (DPA/The Local)
    As Germans live longer and lower birth rates mean fewer workers are available to replace retirees, the Bundesbank says people will need to work longer in order to meet pension demands. The German Federal Bank (Bundesbank) said in its monthly report on Monday that by 2060 Germany should increase the retirement age to 69 from the current 65. The retirement age is already set to reach 67 by 2030, but the Bundesbank said that even with the current favorable financial situation and this increase, “further adjustments are inevitable”. “At the same time, a longer working life will not be taboo,”...
  • Merkel's party mates push to end minimum wage for interns

    08/01/2016 4:27:49 AM PDT · by Olog-hai · 4 replies
    TheLocal.de ^ | 01 Aug 2016 11:02 GMT+02:00
    Members of Chancellor Angela Merkel’s party are trying to combat the decline of internships since the introduction of the minimum wage. The German minimum wage was just introduced for the first time at the start of last year, and government estimates say that the policy directly benefits 3.7 million workers. But there’s one group of workers that it has apparently not helped so much: interns. Interns in Germany must be paid the €8.50 per hour minimum wage under certain conditions, for example if they work more than three months at a non-required internship and have completed a university degree. Since...
  • Eurozone likely to get more stimulus as growth halves

    07/30/2016 6:08:20 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Jul. 29, 2016 10:43 AM EDT | Pan Pylas
    It seems that the strong start to the year was another false dawn for the eurozone economy and that the European Central Bank will have more to do in the months ahead to shore up growth. New figures released Friday confirmed that the eurozone, which is made up of 19 countries from Ireland to the west to Cyprus in the east, suffered a sizable slowdown in the second quarter of the year despite a number of stimulus measures that the European Central Bank has thrown at it. In its first estimate for the April to June period, Eurostat, the EU’s...
  • No clean bill of health for EU banks in stress test

    07/30/2016 10:54:11 AM PDT · by Olog-hai · 8 replies
    Reuters ^ | Fri Jul 29, 2016 6:03pm EDT | Huw Jones and Andrew MacAskill
    Banks from Italy, Ireland, Spain and Austria fared worst in the latest European Union stress test, which the region’s banking watchdog said on Friday showed there was still work to do in order to boost credit to the bloc’s economy. Eight years since the collapse of Lehman Brothers sparked a global banking meltdown, many of Europe’s banks are still saddled with billions of euros in poorly performing loans, crimping their ability to lend and putting off investors. “While a number of individual banks have clearly fared badly, the overall finding of the European Banking Authority — that Europe’s banks are...
  • How the Berlin startup scene is wasting its potential

    07/30/2016 10:27:10 AM PDT · by Olog-hai · 2 replies
    TheLocal.de ^ | 29 Jul 2016 14:16 GMT+02:00 | Shaun Kemp
    After 15-plus years in business, predominantly with industry leaders in the UK and Sweden, I recently ventured into the world of Berlin startups — the land of flat hierarchies, table football, internships and copycat business models. I expected a vibrant, exciting startup scene that mirrored the incredible city I chose to move to from Stockholm. Were the rumors true? Is Berlin Europe’s startup capital? A veteran German businessman told me in my first week that “some companies here aren’t even real companies” — I wasn’t even sure what that meant! But I quickly learned that the thriving “Silicon Allee” scene...
  • Deutsche Bank to close almost 200 branches

    07/18/2016 5:50:13 PM PDT · by Olog-hai · 9 replies
    TheLocal.de ^ | 18 Jul 2016 09:04 GMT+02:00 | (DPA/The Local)
    Germany’s largest lender is set to shut over a quarter of its branches across the country as the company goes through a major restructuring process. The closures are set to take place over the next few months, with 188 of Deutsche Bank’s 723 branches nationwide due to close their doors. […] After recording colossal losses of around €7 billion in 2015, the Frankfurt lender is desperately seeking ways to cut costs. […] The bank said it hopes to redirect funds to digital banking, in which it hopes to invest €750 million by 2020. …
  • Nostalgic Germans hoarding billions of Deutschmarks

    07/18/2016 12:29:30 PM PDT · by Olog-hai · 16 replies
    TheLocal.de ^ | 18 Jul 2016 16:09 GMT+02:00 | [DPA/The Local (With Reporting by Verity Middleton)]
    Fourteen years after the introduction of the Euro in cash, Germans are still holding onto their Deutschmarks (DM), mainly for the sentimental value attached to them. The DM, which was introduced in West Germany in 1948 under Allied rule and adopted in East Germany in 1990, was replaced by the Euro in 2002. On the 31st of December 2001, DM banknotes to the value of €76.57 billion were in circulation. Since then, “more than 95% of DM banknotes in circulation have been exchanged” for Euros, Dorit Feldbrügge from the Bundesbank (German Central Bank) told The Local. But that means that...
  • Property firms expect Frankfurt to win big on Brexit

    07/11/2016 5:04:51 PM PDT · by Olog-hai · 8 replies
    TheLocal.de ^ | 11 Jul 2016 14:32 GMT+02:00 | (AFP)
    German property firms expect a boom in Frankfurt as financial businesses move activities and staff out of London in the wake of Brexit, an industry survey showed on Monday. A majority of 72 percent of respondents believed financial center Frankfurt, rather than rivals Dublin, Paris, or Amsterdam, would gain the most from Britain leaving the European Union, the study of 555 firms by consultants Ernst & Young (EY) found. The German property market as a whole would get a boost from Brexit, 57 percent of those polled said, with large majorities expecting prices for commercial and residential properties to increase....
  • Former EU President Hired As New Chairman of Goldman Sachs International

    07/09/2016 7:33:17 PM PDT · by 867V309 · 12 replies
    breitbart.com/london/ ^ | 9 Jul 2016 | Liam Deacon
    The former president of the of the European Commission, the European Union’s (EU) unelected executive arm, has been recruited as the new boss of international operations at Goldman Sachs, who funded the official anti-Brexit campaign. In May, in the run-up to the referendum, figures released by the Electoral Commission revealed that Goldman Sachs had quietly donated £500,000 to Britain Stronger in Europe – the official, government back anti-Brexit campaign – shortly before February when donations had to be declared.
  • Post-Brexit, Germans feel more positively about the EU

    07/08/2016 9:35:07 AM PDT · by Olog-hai · 13 replies
    TheLocal.de ^ | 08 Jul 2016 11:07 GMT+02:00
    Germans are more satisfied with the EU following Britain’s vote to leave, according to the monthly ARD-Deutschlandtrend poll, carried out by political research institute Infratest Dimap. Fifty-two percent said that membership of the bloc has more advantages than disadvantages; this figure stood at 46 percent on June 24th, the day after Britain’s vote to leave, and 39 percent on June 21st leading up to the referendum. The poll has put the same question to voters regularly; back in 1999, just 20 percent had answered that the advantages of membership outweigh the disadvantages. […] However, Germans are not totally satisfied with...
  • Brexit vote to shrink German exports to UK: industry survey

    07/07/2016 9:24:45 AM PDT · by Olog-hai · 19 replies
    TheLocal.de ^ | 07 Jul 2016 16:48 GMT+02:00 | (AFP)
    German firms expect exports to Britain to tumble five percent next year in the wake of the Britain’s vote to quit the EU, an industry survey showed on Thursday. The German Chambers of Commerce and Industry (DIHK) also revised its projection for 2016 to a one-percent drop rather than five percent growth. The figures were based on a survey of 5,600 businesses that export to Britain following the June 23 referendum in which 52 percent of Britons voted to leave the EU. Britain is currently Germany’s third-largest export market, buying up €89 billion of goods in 2015. …
  • [German finance minister] Schäuble warns of 'race to bottom' after UK tax cut plans

    07/06/2016 4:11:00 PM PDT · by Olog-hai · 21 replies
    TheLocal.de ^ | 06 Jul 2016 17:02 GMT+02:00 | (AFP)
    Finance Minister Wolfgang Schäuble said Wednesday he opposes a race of competitive tax cuts in Europe after Britain indicated it may slash corporate tax. “We have no intention to start some sort of ‘race to the bottom’,” said Schäuble about plans by Britain’s finance minister George Osborne to slash corporation tax to avoid a business exodus after the June 23 Brexit vote. […] “We’re not opposed to fiscal competition,” he said, but it has to be “fair”, he added. …
  • VW, Daimler raided as part of antitrust investigation

    07/05/2016 2:57:20 PM PDT · by Olog-hai · 3 replies
    TheLocal.de ^ | 05 Jul 2016 12:36 GMT+02:00
    Volkswagen, Daimler, and Bosch are suspected of colluding on steel prices, leading to raids on their offices by the federal competition watchdog, it was reported on Tuesday. […] Six companies were raided during the search, which was conducted by 50 antitrust agents with the support of local police and state prosecutors, the Schwäbische Zeitung reports. (Spokesperson for the Bundeskartellamt Kay) Weidner said no charges have been filed, adding that the searches do not mean that antitrust laws were violated. …
  • Bundesbank chief: Brexit is ‘political crisis’

    07/05/2016 12:59:28 AM PDT · by Olog-hai · 4 replies
    EurActiv ^ | Jul 4, 2016 | By Saskia Littmann | WirtschaftsWoche | Translated By Samuel Morgan
    The UK’s decision to leave is already being felt in mainland Europe; the German economy has been hit by the result as well, the president of Germany’s central bank told EurActiv’s partner WirtschaftsWoche. Jens Weidmann, the president of Deutsche Bundesbank, said that he was very disappointed with the result of the 23 June referendum. “This decision is very unfortunate and is, in my view, a mistake,” Weidmann said at a speech made in Munich. However, like most high-profile figures commenting on the result, he urged the decision to be respected and dealt with. The banking chief also said that the...
  • EU Commissioner wants fines for Spain, Portugal

    07/05/2016 12:28:07 AM PDT · by Olog-hai · 7 replies
    TheLocal.de ^ | 05 Jul 2016 08:01 GMT+02:00 | (AFP)
    Germany’s EU Commissioner Günther Öttinger said in a newspaper interview Monday that Spain and Portugal should be fined by Brussels for missing their 2015 deficit targets. “Neither country met the budget commitments that they had both set themselves,” Öttinger told the mass-circulation daily Bild. “I believe that if the EU Commission is to maintain its credibility regarding the budget rules, then we will have to impose sanctions on Spain and Portugal,” he continued. […] On Friday, another EU Commissioner, Valdis Dombrovskis, had suggested that Brussels could freeze the structural funding for the two countries. …
  • British vote won't stop EU enlargement, say France, Germany

    07/04/2016 2:55:29 PM PDT · by Olog-hai · 34 replies
    Associated Press ^ | Jul. 4, 2016 3:01 PM EDT
    The leaders of France and Germany assured prospective EU members in the Balkans on Monday that the British vote to leave the union won’t threaten eventual enlargement of the bloc. Balkan nations that survived wars and political breakups in the 1990s worry they will face more hurdles to membership as the EU struggles to keep itself together. And pro-Russian forces in countries such as Serbia are hoping to sway the region toward Moscow and away from the West, as the Brexit vote throws European unity into question. French President François Hollande and German Chancellor Angela Merkel sought to soothe worries...
  • EU spells out conditions for single market access to Britain

    06/29/2016 12:06:12 PM PDT · by Olog-hai · 86 replies
    Associated Press ^ | Jun 29, 2016 2:38 PM EDT | Raf Casert and Geir Moulson
    European Union leaders drew a stark line along the British Channel on Wednesday, telling the U.K. that it cannot keep valuable business links with its former continental partners in a seamless single EU market, if it doesn’t also accept European workers. The challenge cuts to the heart of the British vote to leave the bloc following a virulent campaign where migration from poorer EU countries was a key concern. It also sets the scene for the complex departure negotiations facing departing Prime Minister David Cameron’s successor, for which nominations opened in London Wednesday. Meeting for the first time without the...
  • Did Britain Make a Mistake Leaving the EU?

    06/28/2016 7:47:32 AM PDT · by Sean_Anthony · 19 replies
    Canada Free Press ^ | 06/28/16 | Dr. Don Boys
    Britain’s departure from the EU rattled the stock market, refreshed the patriots, rankled the globalists, and rocked effete politicians. Even with the approaching storm, not a bad day for freedom Well, they did it! Great Britain ripped up their 40-year-old membership card in the European Union and may become “Great” Britain again: you know, sovereignty, security, and stability. Britain was a major player in the European Union, a bloc of 28 nations, making it the biggest trading zone in the world. Membership in the EU permits citizens of one nation to travel and live in other member-nations. Last year, Britain...
  • Nigel Farage jeered and booed as he tells MEPs they are 'in denial' over Brexit

    06/28/2016 6:31:25 AM PDT · by ThomasMore · 36 replies
    The Telegraph ^ | 06/28/2016 | By Michael Wilkinson
    Ukip leader Nigel Farage was jeered by the European Parliament after he told MEPs that they were "in denial" about Brexit and that they had "never had a proper job before". His astonishing speech at a special meeting of the European Parliament today ended with boos echoing through the Brussels chamber. Mr Farage used his speech to declare that Brexit was "a beacon of hope" to other member states but he also infuriated MEPs when he said: "Now, I know that virtually none of you have ever done a proper job in your lives or worked in business or worked...
  • German minimum wage going up 4 percent in 2017

    06/28/2016 6:36:33 AM PDT · by Olog-hai · 7 replies
    Associated Press ^ | Jun 28, 2016 8:55 AM EDT | `
    Germany’s minimum wage will go up by four percent next year, to €8.84 ($9.79) per hour. […] The German DPA news agency reports that the head of the independent commission tasked with setting the minimum wage, Jan Zilius, said Tuesday the rise is in line with recent wage agreements in various sectors. …
  • Germany and France urge deeper EU 'political union'

    06/27/2016 7:47:59 AM PDT · by Olog-hai · 35 replies
    TheLocal.de ^ | 27 Jun 2016 14:37 GMT+02:00 | (AFP)
    The foreign ministers of Germany and France on Monday called for ambitious steps to strengthen the European Union after Britain’s shock vote to leave the bloc. “We will… take further steps toward a political union in Europe, and we invite the other European states to join us in this endeavor,” Frank-Walter Steinmeier and Jean-Marc Ayrault wrote in a joint position paper. The top diplomats of the two core EU founding members and biggest economies said that “Germany and France have a responsibility to strengthen solidarity and cohesion within the European Union”. But they also signaled a willingness to accept a...
  • Brexit: French and German trade groups urge EU unity

    06/26/2016 2:22:59 AM PDT · by Olog-hai · 8 replies
    TheLocal.de ^ | 26 Jun 2016 09:05 GMT+02:00
    Business groups in France and Germany on Sunday said EU nations should respond to Britain’s decision to quit the bloc by working even more closely together to limit the “turbulence” caused by the Brexit shock. In an joint appeal published in the French Journal du Dimanche, the heads of Germany’s powerful BDI and BDA industry groups and the president of France’s MEDEF employers’ federation made the case for stronger political and economic cooperation. […] They urged the leaders of France and Germany to “solemnly remember their commitment to European values” and boost European cooperation on foreign policy and security, especially...
  • Germany makes fracking verboten

    06/25/2016 8:25:06 PM PDT · by Olog-hai · 45 replies
    TheLocal.de ^ | 24 Jun 2016 15:03 GMT+02:00 | (AFP)
    German lawmakers approved a law that essentially bans fracking, ending years of dispute over the controversial technology to release oil and gas locked deep underground. The text approved on Friday does not outlaw conventional drilling for oil and gas, but leaves it up to state governments to decide on individual cases. But fracking, or hydraulic fracturing, which is carried out by blasting a mixture of water, sand and chemicals underground to release shale oil and gas, will be banned. …
  • Germany says 'won't let anyone take Europe from us'

    06/25/2016 5:39:52 AM PDT · by Olog-hai · 100 replies
    TheLocal.de ^ | 25 Jun 2016 11:38 GMT+02:00 | (DPA/The Local)
    German Foreign Minister Frank-Walter Steinmeier said on Saturday that the EU would weather the shock of the British vote to leave the union as he convened crisis talks. “I am confident that these countries can also send a message that we won’t let anyone take Europe from us,” he said heading into a meeting in Berlin of his counterparts from the EU’s six founding members. […] Steinmeier called the European Union “a successful project of peace and stability” and said that there was a “strong desire” within the bloc to defend and strengthen it. …
  • Obama: EU and Britain both ‘indispensable partners’

    06/24/2016 12:39:13 PM PDT · by Nachum · 10 replies
    The Times of Israel ^ | 6/24/16 | AFP
    President Barack Obama, who had warned against Britain quitting the European Union, said Friday that Washington would respect the British voters’ decision to do just that. The US leader said Britain and the European Union would both remain “indispensable partners” of the United States and that the “special relationship” with London would endure. “The people of the United Kingdom have spoken, and we respect their decision,” Obama said, in a statement from his White House office. But, in a nod to Washington’s frustration that its ally has been unwilling to back a European project seen as a cornerstone of Western...
  • 'Germany needs to make UK come to its senses'

    06/24/2016 11:49:58 AM PDT · by Olog-hai · 84 replies
    TheLocal.de ^ | 24 Jun 2016 16:27 GMT+02:00 | Jörg Luyken
    Britain leaving the EU means trouble ahead for Germany — and its hardest task will be convincing the Brits to drop a self-defeating ideology, a leading foreign policy expert told The Local. German business has a lot of vested interest in British markets, explains Josef Janning, head of the European Council on Foreign Relations (ECFR) in Berlin. And that means Germany will have its work cut out negotiating a settlement which gives Britain access to the single market after it leaves the European Union. […] Being integrated into the single market will mean the UK will have to “swallow the...
  • With Brexit locked in, here are other EU countries that poll high to 'exit'

    06/24/2016 1:52:59 AM PDT · by Leaning Right · 65 replies
    CNBC ^ | June 24, 2016 | Everett Rosenfeld
    A majority of British voters said Thursday that the United Kingdom should leave the European Union, launching markets into turmoil as investors tried to digest what the referendum means for the U.K. and the European bloc as a whole. Although concern for the future of the EU may seem like hyperbole, nearly every member state has a political contingent in favor of leaving the union, and the successful Brexit vote may have just politically legitimized — and energized — those movements.
  • Soros says pound fall after Brexit would be bigger, more disruptive than 'Black Wednesday'

    06/22/2016 10:50:21 PM PDT · by Olog-hai · 40 replies
    Reuters ^ | Tue Jun 21, 2016 3:43am EDT | Guy Faulconbridge
    George Soros, the billionaire who earned fame by betting against the pound in 1992, said that a British vote on Thursday to leave the European Union would trigger a bigger and more disruptive sterling devaluation than the fall on Black Wednesday. Soros used Quantum Fund in 1992 to bet successfully that sterling was overvalued against the Deutsche Mark, forcing then-Prime Minister John Major to pull the pound out of the European Exchange Rate Mechanism (ERM). Soros, in an opinion piece in the Guardian newspaper, said that in the event of a British exit, or Brexit, the pound would fall by...
  • German court rules in favor of ECB crisis-fighting tool [European Central Bank bond-buying]

    06/21/2016 3:25:01 PM PDT · by Olog-hai · 1 replies
    TheLocal.de ^ | 21 Jun 2016 10:19 GMT+02:00 | (AFP)
    Germany’s top court ruled on Tuesday that a key crisis-fighting tool of the European Central Bank complies with German national law. The constitutional court ruled that the ECB’s 2012 bond-buying plan called Outright Monetary Transactions (OMT) complies with German law. OMT — though never actually used — was part of ECB’s President Mario Draghi’s landmark promise to do “whatever it takes” to save the battered euro at the height of the crisis in 2012. […] The promise of OMT was that the ECB could, if necessary, buy up unlimited amounts of government bonds from debt-stricken countries that had pledged reforms...
  • E.U. Countries Warn Britain on ‘Brexit’: You’ll Pay if You Leave Us

    06/19/2016 8:58:45 PM PDT · by Theoria · 42 replies
    The New York Times ^ | 19 June 2016 | Steven Erlanger
    The rest of the European Union nations are looking at the possibility of a British departure from the bloc with disbelief, trepidation and anguish. But they are also preparing to retaliate. If Britons do vote in a referendum on Thursday to leave the European Union, they can expect a tough and unforgiving response, with capitals across the Continent intent on deterring other countries from following the British example, European officials and analysts said. In other words, Britain will be made to suffer for its choice. With other issues pressing, including Greek debt, the migrant crisis and terrorism, the largest and...
  • Germany sets conditions for EU banking union

    06/18/2016 3:44:56 AM PDT · by Olog-hai · 4 replies
    TheLocal.de ^ | 18 Jun 2016 08:12 GMT+02:00
    Germany on Friday set its conditions to deepen banking union in the European Union, demanding that risks be reduced at Europe’s banks before deposits could be guaranteed EU-wide. Many EU governments such as France and Italy see a deposit guarantee across Europe as the next logical step to avoid the problems that brought on the euro debt crisis and the financial collapse of 2009. At talks in Luxembourg, the EU’s 28 finance ministers agreed for the first time to an EU roadmap towards a deposit guarantee scheme across Europe. …
  • Now Switzerland WITHDRAWS its application to join the EU just a week before British vote

    06/17/2016 12:54:52 AM PDT · by Ken H · 60 replies
    Express UK ^ | June 16, 2016 | Charles Peat
    SWITZERLAND has withdrawn its application to join the European Union just a week before Britain votes on its own EU membership.
  • Are subsidies driving dairy farmers into bankruptcy? [Germany]

    05/30/2016 8:55:16 PM PDT · by Olog-hai · 5 replies
    Deutsche Welle ^ | 29.05.2016 | Jan Walter / gro
    Many dairy farmers work long hours though their pay is dropping and a growing number of farms are going bankrupt. They have a low opinion of subsidies. […] Michael Greshake is struggling with low market prices for the dairy products put out by his farm in Velbert, in the state of North Rhine-Westphalia. His main buyer, a Dutch company, has contractually agreed to buy a set amount of milk. However, Greshake’s farm assumes the risk for overproduction. If contracted farms such as Greshake’s suddenly produce a surplus — and demand fails to grow — purchase prices sink. That is why...
  • Ex-London Mayor Boris Johnson compares the EU to Hitler

    05/15/2016 4:53:17 AM PDT · by Olog-hai · 30 replies
    Associated Press ^ | May 15, 2016 7:39 AM EDT | Danica Kirka
    Ex-London Mayor Boris Johnson has compared the European Union’s aims to those of Adolf Hitler, arguing that the 28-nation bloc is creating a superstate that mirrors the attempt of the Nazi leader to dominate the European continent. Johnson, the most prominent political figure arguing that Britain should leave the EU, says the past 2,000 years of European history have been dominated by doomed attempts to unify the continent and recreate the Romans’ golden age. “Napoleon, Hitler, various people tried this out, and it ends tragically. The EU is an attempt to do this by different methods,” he was quoted by...
  • Germany: No new EU deal for Britain if it leaves the bloc

    05/12/2016 7:41:23 AM PDT · by Olog-hai · 32 replies
    Associated Press ^ | May 12, 2016 10:37 AM EDT
    German Finance Minister Wolfgang Schäuble said Thursday that Britain will not get an improved membership deal with the European Union if the country votes to leave the bloc. Schäuble said in a speech he wanted to end any speculation that a “leave” vote in the June 23 referendum could be used to improve on a deal won by Prime Minister David Cameron to change Britain’s membership terms. Schäuble said that “this is the only deal on the table. An ‘out’ vote cannot be used to get a better deal. ‘In’ means ‘in’ and ‘out’ means ‘out.’” …
  • Greens/EFA: Blacklist USA as ‘world’s largest tax haven’ [European Union]

    05/11/2016 9:28:21 PM PDT · by Olog-hai · 6 replies
    EurActiv ^ | May 11, 2016 | Nicole Sagener | Translated By Samuel Morgan
    It isn’t just tropical nations like Panama that act as safe havens for tax avoiders; the US stands accused of the same thing according to a new study by the European Parliament’s Green faction. EurActiv Germany reports.The release of the Panama Papers has been like opening Pandora’s Box: more and more countries around the world are seemingly ready to follow global rules on data exchange in order to curb tax fraud. But it’s not just the well-known tax havens like the Seychelles, the Virgin Islands, Panama and Liechtenstein that are being asked to up their efforts against tax loopholes, according...
  • German middle class ‘shrinking as rapidly as USA’s’

    05/09/2016 4:26:21 AM PDT · by Olog-hai · 18 replies
    TheLocal.de ^ | 09 May 2016 12:09 GMT+02:00
    The middle classes in Germany and the USA are both in sharp decline, while top earners on both sides of the pond reap the rewards, a study by the German Institute for Economic Research shows. The number of Germans counted as belonging to the middle classes sank by six percent between 1991 and 2013, the study released on Friday found. The trend in the Federal Republic closely matches a similar drop seen in the USA over the same period. While in Germany people from all migrant backgrounds were most likely to have fallen out of this income group, in the...
  • Obama says 'spirit of innovation' turns ideas into jobs

    04/25/2016 1:33:36 AM PDT · by Olog-hai · 17 replies
    Associated Press ^ | Apr 25, 2016 4:31 AM EDT
    President Barack Obama it putting in a few good words for the “spirit of innovation” that he says turns ideas into jobs and growth. He commented Monday before setting out on a tour of the Hannover Messe, the world’s largest industrial technology trade show, taking place in Hannover, Germany. The U.S. is sponsoring this year’s show and Obama says it’s another chance to urge people to buy “Made in America.” …
  • Obama's amazing THREAT to Britain: UK would be at the 'back of the queue' after Brexit

    04/23/2016 3:23:36 AM PDT · by BradtotheBone · 60 replies
    Express ^ | Sat, Apr 23, 2016 | Alison Little
    The US President warned the UK would be “at the back of the queue” for a trade deal with America if it quit Brussels. But his threat provoked outrage and scorn from pro-Brexit campaigners, who dismissed it as yet another scaremongering ploy from the pro-EU lobby. Mr Obama, who will no longer be in office when decisions on a trade deal are made, delivered a lecture to the British people on why he thinks it is in the UK’s, America’s and the world’s best interests for Britain to vote to stay in the EU on June 23. He weighed into...
  • Number of people needing state help in Germany at record high

    04/19/2016 6:34:33 PM PDT · by Olog-hai · 19 replies
    Deutsche Welle ^ | 19.04.2016 | 19.04.2016
    On Tuesday, Germany’s Federal Statistics Office released figures showing that 1.038 million people were receiving basic security benefits at the end of last year — the highest number since the benefits were introduced in 2003 and 3.5 percent more than in 2014. Anyone over the age of 18 who is unable to work more than three hours a day under normal working conditions, and those whose age pensions are inadequate to live on, are eligible for the benefits. The statistics office reported that more than half of the recipients — about 536,000 people — are senior citizens, while around 502,000...
  • 'Brexit' could cost Britain £100 billion and a million jobs - CBI

    03/21/2016 12:10:35 AM PDT · by Berlin_Freeper · 25 replies
    reuters.com ^ | Mar 21, 2016 | reuters
    A British vote to leave the European Union could cost the economy £100 billion and 950,000 jobs by 2020, according to research commissioned by employers' group the Confederation of British Industry (CBI). The CBI said "Brexit" would deliver a serious shock to the British economy, regardless of any trade deals the country could negotiate with its former European partners. "This analysis shows very clearly why leaving the European Union would be a real blow for living standards, jobs and growth," CBI Director-General Carolyn Fairbairn said in a statement on Monday. "The savings from reduced EU budget contributions and regulation are...
  • Experts warn of rising inequality in Germany

    03/18/2016 6:04:15 AM PDT · by Olog-hai · 18 replies
    TheLocal.de ^ | 18 Mar 2016 11:23 GMT+01:00 | (DPA/The Local)
    Income inequality has leapt in Germany since 2000, a new study shows, with the lowest earners having less money in their pockets than 15 years ago despite sustained economic growth. The study by the Kreditanstalt für Wiederaufbau, a government-owned development bank, shows how unevenly the fruits of prosperity have been divided over the past decade and a half. Whereas in 2000 Germany had arguably the lowest income inequality in the world, it has now fallen behind the Czech Republic, Sweden and Denmark. The report does however emphasize that Germany is still one of the most equal countries in the world...
  • German state to finally get rid of death penalty [Hesse]

    03/17/2016 5:39:49 PM PDT · by Olog-hai · 11 replies
    TheLocal.de ^ | 17 Mar 2016 16:55 GMT+01:00 | Emma Anderson
    The central state of Hesse is overhauling their constitution, making sure to get rid of one thing in particular that no other state has: the death penalty. In the wake of the Second World War, Germany wrote a new Constitution with reforms intended to shake off its violent Nazi past, including to clearly define where the country newly stood on the death penalty. “Capital punishment is abolished,” states Article 102 simply, with no further explanation. The Constitution, or Grundgesetz, was signed in 1949, but just three years before, the state of Hesse apparently had its own ideas about capital punishment....
  • European Central Bank to Launch New Stimulus Program [Revelation 13]

    03/17/2016 2:38:15 PM PDT · by Jan_Sobieski · 1 replies
    The New American ^ | 3/14/2016 | Charles Scaliger
    Last week, European Central Bank chief Mario Draghi (shown) tried to do an impression of former Federal Reserve Chairman Ben Bernanke. Although "Helicopter Ben" — he of the massive, innovative "stimulus" monetary policies enacted in response to the Great Recession, which pumped trillions of new dollars into the global economy — has been retired from the helm of the Fed for several years, he casts a very long shadow indeed. Draghi's own newly enacted stimulus, designed to boost Europe out of persistent economic malaise, not only takes a few pages out of the Bernanke playbook, it moves central banking into...
  • The biggest European markets deal in decades is going ahead

    03/16/2016 12:46:32 AM PDT · by Berlin_Freeper · 8 replies
    businessinsider ^ | Oscar Williams-Grut
    The London Stock Exchange (LSE) has agreed merger terms with German stock exchange operator Deutsche Borse. LSE said in a statement on Wednesday that both parties "have reached agreement on the terms of a recommended all-share merger of equals." The deal will be done through a new UK holding company. LSE shareholders will own 45.6% of the new merged companies while Deutsche Borse investors will hold the rest. The deal is one of the biggest market tie-up in decades, creating a new company with a likely market capitalisation of at least £20 billion.
  • Energy firms: Merkel stole our assets with nuclear shutdown

    03/15/2016 1:50:00 PM PDT · by Olog-hai · 12 replies
    TheLocal.de ^ | 15 Mar 2016 14:13 GMT+01:00 | (AFP)
    Three energy giants Tuesday went to Germany’s top court to challenge the decision by Chancellor Angela Merkel’s government to phase out nuclear power after the Fukushima disaster five years ago. Energy giants E.ON, RWE and Sweden’s Vattenfall want the Constitutional Court to rule that the move was an expropriation of their assets. They hope that would bolster damages claims they have already launched in lower regional courts where they are reportedly demanding at least €15 billion in separate cases. …
  • Green energy policies bring power giant to €7 billion loss (Germany’s E.ON)

    03/09/2016 5:44:45 AM PST · by Olog-hai · 2 replies
    TheLocal.de ^ | 09 Mar 2016 13:55 GMT+01:00 | (AFP)
    German power giant E.ON on Wednesday said it booked a €7.0 billion ($7.7-billion) net loss in 2015 and warned that “the course ahead will be tougher and longer than anticipated”. […] German power utilities have complained that the country’s transition from conventional carbon fuels to greener, cleaner sources of energy is squeezing their margins. The cost of having to close down their nuclear power plants and the heavy subsidies afforded to renewable energy have pushed them deeply into the red, the companies argue. The glut of government-subsidized solar, wind and other renewable power has led to a collapse in wholesale...
  • Germany could be Europe's next big problem

    03/03/2016 8:28:07 AM PST · by Lorianne · 9 replies
    Business Insider ^ | 02 March 2016 | Jonathan Garber
    This is as good as it gets for Germany and Europe. Previously, it was the debt of the eurozone’s peripheral countries that was of concern to the markets. But in an interview with Business Insider, Geopolitical Futures founder George Friedman proclaimed that Europe now has a much bigger problem: Germany. And at the heart of the looming issue for Germany and Europe is the Italian banking system. “[Problems in Italian banks are] going to spill over into the Netherlands, it’s going to spill over into Germany,” Friedman said. “Germany is the new PIIG. Germany depends on exports and its markets...
  • Merkel: Germany should play bigger role on world stage

    03/02/2016 10:02:38 PM PST · by Olog-hai · 42 replies
    Deutsche Welle ^ | 03/02/2016 | [es/bw (Reuters, dpa)]
    Germany should play a bigger role in world affairs, Chancellor Angela Merkel insisted on Wednesday. On the campaign trail for her Christian Democrats (CDU) party ahead of regional elections next week, Merkel refused pressure to take a more individual, domestic approach to Europe's migrant crisis. The country should not just spread its influence via, exports, the chancellor argued. "Rather, we will have to take on more responsibility in an open world for what happens outside our European borders," she said from a CDU rally in the town of Wittlich in Rhineland-Palatinate, one of three states about to hold parliamentary ballots....