Germany
Report says strong euro dented Bundesbank profits
The Bundesbank saw its annual profit fall to less than one billion euros (1.2 billion dollars) last year as a result of the strong euro and that could pose a problem for the German government's finances, according to a report in a German business daily.
Germany considers offloading 600 tons of gold
Ernst Welteke told a parliamentary committee on Wednesday 10 March that the Bundesbank wanted to sell 600 tons of gold over the next five years from its stock of 3,400 tons. But politicians said the funds should be used to cut debt, something the…
ECB's Welteke: risks to eurozone economy remain
Bundesbank President and European Central Bank governing council member Ernst Welteke said on Thursday 11 March that he saw a higher risk that the economy could deteriorate rather than improve.
Buba's Stark on promoting stability and growth
In a speech on 'Promoting Stability and Growth: Economic Reforms and Sound Institutions' given on 9 March, Jurgen Stark of the Deutsche Bundesbank said Argentina has a number of difficult years behind it, but the same time, the people of Argentina will…
Germany changes position on governing council post
It was reported on Tuesday 9 March that the German government had changed its position that large countries should automatically retain seats on the ECB's executive board.
Welteke 'relaxed' on asset bubbles
Ernst Welteke, president of the Bundesbank, said on Sunday 7 March that he was "relaxed" on the issue of asset bubbles, a growing concern among central bankers in the wake of strong equity market gains over the last year.
Schroeder calls for better dollar/euro balance
Speaking on Friday 5 March, German Chancellor Gerhard Schroeder said he would be happy if the dollar and euro "come into a reasonable balance".
IMF's Koehler named candidate for presidency
Horst Koehler, managing director of the IMF, is to become the candidate of the opposition parties for president of Germany. If he is elected by parliament in a vote on May 23, he will leave his IMF post a year before his term runs out.
ECB's Garganas: 'stay cool' over strong euro
European Central Bank council member Nicholas Garganas played down the need for an interest rate cut in a newspaper interview on Friday 27 February, saying a strong euro was not stifling the euro zone economy.
Buba's Stark says strong euro is not export burden
The Vice-President of Germany's Bundesbank Juergen Stark said on Wednesday 25 February that the strong euro did not have too much of an impact on exports and that the eurozone was slowly recovering.
Schroeder urges ECB consider rate cut
German Chancellor Gerhard Schroeder said on Wednesday 25 February that the European Central Bank should "most intensively" consider cutting interest rates to halt the euro's appreciation against the dollar.
Bundesbank says eurozone not hurt by weak dollar
The Bundesbank said on Monday 16 February that economic recovery in the eurozone has not been harmed by the weak dollar, with increasing global demand more than compensating for it.
Schroeder suggests gold reserves used to fund R&D
German Chancellor Gerhard Schroeder was quoted in an interview on Thursday 5 February as suggesting that Bundesbank gold reserves could be used to finance research and development projects.
Welteke: Strong euro 'an asset' and outlook good
Ernst Welteke told an audience in Frankfurt that the strong euro is allowing the ECB to keep interest rates low. The Bundesbank chief also said the economic prospects for the eurozone and Germany "are rather good" and urged Britain to join the euro.
Strong euro does not require rate cut - Buba
According to Hermann Remsperger, the Bundesbank's chief economist, the ECB does not need to cut eurozone interest rates to stimulate domestic demand. The ECB's rate-setting Governing Council is due to meet on Thursday 5 February.
Trichet says no need to change growth pact
In a speech on 'Economic reform in Europe' given on 26 January, Jean-Claude Trichet of the ECB said the ECB does not see any need for changes to the eurozone's rules on budget deficits, which he described as "appropriate".
Germany reports growth at 0.25%
The Bundesbank said on Monday 19 January in its January monthly report that Germany grew by just 0.25 percent in the fourth quarter of 2003 compared with the third quarter.
Report says Bundesbank wants 600 tonnes gold sale
A report said Germany's Bundesbank has registered its intention to sell a total of 600 tonnes of gold over the next five years.
German central banker calm over euro strength
A senior member of the Bundesbank has played down warnings from business leaders and politicians that the strength of the euro's exchange rate is hurting economic recovery.
Bundesbank head sees threat from euro strength
Bundesbank Vice President Juergen Stark said in a newspaper interview published on Thursday 8 January that the speed and scale of the euro's rise against the dollar could become a possible threat to the German economy.
Eurozone inflation rate falls in December
The annual inflation rate for the 12-nation eurozone fell to 2.1 per cent in December from 2.2 per cent the previous month, according to an initial estimate by Eurostat data agency released on Monday 5 January.
Dollar fall to hit central bank profits
The strength of the euro against the dollar is proving a double-edged sword for Europe's central bankers. The decline in the value of the dollar against the euro is likely to eat into the earnings of the central banks of Germany, Austria and the…
Brussels stands by legal threat over pact row
Gerassimos Thomas, spokesman for EU monetary affairs commissioner Pedro Solbes, has said according to AFP that the European Commission's position has not changed on the ECOFIN decision to postpone any sanctions against Germany and France for breaking the…
ECB's Issing: Rate impact from deficits action
European Central Bank Chief economist Otmar Issing has said in a newspaper article that the decision to effectively suspend the stability and growth pact carries serious risks for the eurozone, according to Reuters.