Germany
New conflict over Bundesbank bonus cuts
The new spat between the German finance ministry and the Bundesbank has developed over cuts in the compensation schemes of the central bank's staff.
Deutsche Bundesbank adopts SwiftNet FileAct
According to a report on Finextra.com, Deutsche Bundesbank is to adopt SwiftNet FileAct to begin standardizing its communications system for low value payments, bringing its branches in line with Germany's national Real Time Gross Settlement as it…
German govt, Bundesbank set for gold clash
A long-simmering squabble between the German government and the Bundesbank over the use of Germany's massive gold reserves may come to the boil again as a result of new legislation drafted by the finance ministry, the Financial Times reported.
Comment: EMU and market discipline
A recent research note by the Brussels-based Centre for European Policy Studies pours cold water on the idea that Italy could crash out of the European Monetary Union (EMU) any time soon. The key to this conclusion lies in the amount of euro-dominated…
Report says Germany may create gold sale fund
Germany may create a special fund for the proceeds of Bundesbank gold sales in a move which could help ease central bank opposition to the sale of part of its huge reserves, according to a draft law quoted by Reuters on Thursday 2 February.
Merkel looks to Buba for chief economic advisor
German Chancellor Angela Merkel has recruited a top Bundesbank economist, Jens Weidmann, to advise her in economic matters, a German government spokesman said on Wednesday 1 February.
Buba's Weber says ECB 'ready to act' on rates
The European Central Bank is ready to act again any time if necessary on interest rates in the eurozone, Bundesbank chief Axel Weber said in a newspaper interview.
Stark the 'only candidate' for ECB post
Germany's Juergen Stark is the "only candidate" for the European Central Bank's executive board, according to the head of the eurozone group of finance ministers.
IMF's Rajan sees a very promising 2006
The International Monetary Fund's Chief Economist on Friday 20 January predicted better global economic growth in 2006 but warned the European Central Bank against raising interest rates too quickly.
ECB's Issing sees no let up in euro zone growth
European Central Bank chief economist Otmar Issing told a conference on Wednesday 18 January that there are no signs that euro zone growth is slowing.
Eurosystem central bank staff cuts gather pace
The number of central bankers in the eurosystem stands at 49,559, a fall of 5.3% or 7,237 staff since one year ago, and 11.9% lower than when the euro was launched in 1999, reveals the 2006 edition of Central Banking Publications' Central Bank Directory.
Deutsche Bundesbank Monthly Report, December 2005
The Deutsche Bundesbank published the English version of its December 2005 Monthly Report on 10 January. The German central bank said the construction industry may have stabilized in the last few months after declining in the past few years.
Deutsche Bundesbank Monthly Report, November 2005
The Deutsche Bundesbank published the English version of its November 2005 Monthly Report on 20 December. The German central bank said it still expects GDP to grow around 1 pct this year following a faster-than-expected rise in the third-quarter…
German govt confirms Bundesbank staff cut plan
The German government is considering plans to reduce the size of the Bundesbank's staff with cuts that go beyond a current round of planned reductions, the Finance Ministry said on Saturday 7 January.
Jurgen Stark on the IMF's strategic direction
In an Editorial published on Friday 6 January, Jurgen Stark, currently vice president of the Deutsche Bundesbank, says efforts to strengthen the IMF's surveillance function and the so-called "exceptional access framework" - must now be locked in and…
Bundesbank rejects report of 1,500 job cuts
The German government is planning to cut about 1,500 jobs at the Bundesbank by the end of 2007, Der Spiegel magazine reported, quoting a letter Barbara Hendricks, secretary of state to the finance ministry, sent to Volker Wissing, a member of the lower…
Bundesbank to decide on gold reserves next year
Germany's Bundesbank will decide next year whether to dispose of its gold reserves, the Financial Times Deutschland reported.
Germany nominates Stark for ECB Board
The German government has nominated Bundesbank Vice-President Juergen Stark to join the European Central Bank's Executive Board when its chief economist, Otmar Issing, retires next year.
Bundesbank official is pick for ECB
This article published Wednesday 14 December looks at the chances of Jurgen Stark replacing Otmar Issing at the European Central Bank. The choice of Stark would bring to the bank someone who was intimately involved with the introduction of the euro in…
Germany against gold sale to fill budget holes
Conservatives in German Chancellor Angela Merkel's ruling coalition remain opposed to using central bank gold reserves to fill budget holes, a senior lawmaker was quoted as saying on Wednesday 14 December.
Stark tipped as Issing's replacement at ECB
Germany wants to hold its seat on the European Central Bank's executive board and could nominate Bundesbank Vice President Juergen Stark to replace Otmar Issing next year, Deputy Finance Minister Thomas Mirow said in an interview this week.
Comment: Reshuffle at the ECB?
When Otmar Issing retires from the ECB's 6-member executive board next year, Germany's seat is likely to be taken by Jurgen Stark, currently vice-president of the German Bundesbank.
ECB's Weber worries over credit growth
The European Central Bank's mid- to long-term strategy is at risk from the pace of credit growth in the euro zone and this danger must be countered, ECB Governing Council member Axel Weber was quoted as saying on Sunday 4 December.
Buba, BaFin, Bank of Italy sign agreement
The Bundesbank, Germany's financial watchdog BaFin and Italy's central bank Banca d'Italia have signed an agreement to cooperate in the regulation of Unicredito Italiano SpA following its takeover of HVB Group, according to a statement published by BaFin.