Germany
Germany plans major cuts in income tax
Germany plans wide ranging income tax cuts to stimulate Europe's largest economy, Chancellor Gerhard Schroeder said at the weekend. Both the EC and ECB have warned against financing the tax cuts through more state debt.
Deutsche Bundesbank Monthly Report, May 2003
The Bundesbank said in its May 2003 monthly report that major uncertainty in the global economy and on the international financial markets, which peaked in the first quarter as the Iraq war was approaching, has since receded. This is reflected mainly by…
Bundesbank report reassures over deflation fears
In its June monthly report the Bundesbank acknowledged deflationary risk does exist, Reuters reports, but said that there was no sign it would turn into a damaging reality.
Germany faces small deflation risk Bundesbank says
The Bundesbank said in its June monthly report published on Monday 23 June that there was only a "small" risk of deflation in Germany and no "acute" signs of deflation exist at present, according to a report by Bloomberg.
Fabritius on central banks role in payment systems
In a speech on 'The evolving role of central banks in payment systems: service providers and/or overseers?' Hans Georg Fabritius of the Deutsche Bundesbank said there are two main developments which are already identifiable but which will require further…
Bundesbank dampens rate cut speculation
Bundesbank chief Ernst Welteke poured cold water on further ECB rate cut talk on Monday 16 June, according to AFP, suggesting it was now up to governments and politicians to get their economies in order.
ECB's Welteke says global growth conditions good
Ernst Welteke said on Friday 13 June thatmacroeconomic conditions are favourable to growth all over the world but enterprises must have confidence to sell their goods, according to a report by Reuters.
Germany's inflation falls to 0.7 percent
Inflation in Germany fell to 0.7 percent in May, the lowest rate in over 3 years, according to Associated Press. The figures released on Wednesday June 11 showed the rate fell by 0.3 percent from 1 percent in April.
Bundesbank cuts growth forecast
The Bundesbank has cut its growth forecast for 2003 to between 0.1 and 0.2 per cent, down from 0.5 per cent, Reuters reports. The move follows weak growth for the first three months of this year.
Kohler on Public-Private Partnership
Speech by Horst Kohler, Managing Director, International Monetary FundAt the Spring Membership Meeting of the Institute of International FinanceBerlin, June 4, 2003
ECB's Issing 'Deflation possible in Germany'
The ECB's chief economist Otmar Issing told Berliner Zeitung that the possibility of deflation in Germany cannot be excluded.
Germany accused of cooking OECD's books
An OECD spokesman admitted on Wednesday May 28 that an influential report was doctored at the request of the German government in order to provide a more flattering picture, according to a report in the Daily Telegraph.
Buba's Welteke rejects recession idea in interview
Bundesbank president Ernst Welteke said in a radio interview that Germany was simply in a "phase of mere stagnation" rejecting an IMF report that said the country was on the brink of recession, according to a broadcast by Deutsche Welle Radio.
Bundesbank chief wants tightening stability pact
Bundesbank president Ernst Welteke has warned that Germany should not abandon its budget consolidation efforts and called for a tightening of the European Stability and Growth Pact rules, according to a report in Deutsche Welle.
Deutsche Bundesbank Monthly Report, April 2003
The Bundesbank said in its April 2003 monthly report that consumer prices continued to rise in March, albeit at a somewhat slower pace than before. The seasonally adjusted increase went down to 0.2%. The year-on-rate of increase fell to 1.2% from 1.3% in…
Bundesbank's Remsperger on monetary policy
In a speech on 'Monetary Policy: How relevant are other policymakers?' Hermann Remsperger of the Bundesbank said the main conclusion for Germany is that there is virtually no scope for stimulating fiscal action. The government has envisaged a budget …
IMF warns of high German deflation risk
The IMF has warned in a report that Germany is at high risk of deflation with Japan and other regions vulnerable to further price declines, according to Reuters. However, the report saw a low risk of deflation in the US.
IMF chief-Germany can still reach 0.5 pct growth
IMF chief Horst Koehler suggested on Thursday 15 May that the ECB had further room for rate cuts as inflation was not a problem for Germany or the other eurozone countries, according to Reuters. He also said that Germany still has a chance of reaching…
Deutsche Bundesbank - Annual Report 2002
The Deutsche Bundesbank has published its Annual Report for the year ended 2002.
Germany sparks row over bank watchdog
Bundesbank president Ernst Welteke is reported by the Independent newspaper to have said on Tuesday 13 May that Germany rather than London should house the new supervisory regulator for banking in Frankfurt because of the proximity to the ECB and because…
Interview: Manfred J.M. Neumann
In conversation with the editor, Manfred J.M. Neumann explains why the ECB should keep its first pillar (a prominent role for money growth), but alter potentially divisive voting proposals. Manfred J.M. Neumann is a professor of economics at the…
Bundesbank sees German public deficit at 3.5%
Bundesbank chief economist Hermann Remsperger said in an interview with Sueddeutsche Zeitung, reported by RTE News, that the German fiscal deficit would amount to 3.5% of gross domestic product (GDP) this year.
Germany drops pledge to balance budget
Germany on 11 May conceded defeat in its battle to cut spending and avoid recession by dropping its pledge to balance its budget by 2006 as required under the Stability and Growth Pact, according to a report by EurActiv.
Big German banks to pay dearly for Basel II - Buba
Bundesbank council member Edgar Meister has said large German companies will pay heavily under the new Basel II regime as they will have to set aside billions of euros in additional capital to buffer against surprise losses.