Economics,Politics
ESM Chief on Euro Crisis: 'The Mood in Germany Is Often Very Aggressive'
28.01.2013 12:04
DerSpiegel: As head of the ESM permanent bailout fund, Klaus Regling is in charge of preventing a collapse of the euro. In a SPIEGEL ONLINE interview, he discusses German worries over bailouts, the debate over aid for Cyprus and personal attacks against him.
As Klaus Regling opens up his...
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Improving Health: Banks Wean Themselves from ECB Support
28.01.2013 12:03
DerSpiegel: European banks are planning to pay back cheap loans provided by the European Central Bank ahead of schedule, at the end of January. The move suggests that Europe's financial sector is slowly recovering.
In a further sign that the euro crisis is slowly starting to abate, 278...
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ECB Warns of Euro-Zone Risk: Draghi Clashes with Berlin Over Aid to Cyprus
28.01.2013 12:01
DerSpiegel: The head of the European Central Bank, Mario Draghi, warned German Finance Minister Wolfgang Schäuble last week not to dismiss Cyprus as not being 'systemically relevant' and said a failure to bail out the island nation could threaten the wider euro zone.
European Central Bank...
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Davos Money Men Say World Emerges From Doldrums Fretting Relapse
28.01.2013 11:59
Bloomberg: The global financial elite don’t want to be fooled again.
Scarred by the worst banking crisis since the Great Depression (INDU) and the hubris that preceded it, bankers, investors and policy makers who gathered in Davos, Switzerland, last week gave a guarded welcome to...
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Coene Says ECB’s ‘Nuclear Deterrent’ Should Ideally Stay Unused
28.01.2013 11:58
Bloomberg: European Central Bank Governing Council member Luc Coene said he would prefer the ECB’s as-yet- untapped bond-buying program to stay that way.
“The ideal situation would be for the OMT never to be used,” Coene said in an interview at theWorld Economic Forum in...
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Withdrawn: $114 Billion From Big U.S. Banks
28.01.2013 11:57
Bloomberg: More than $114 billion exited the biggest U.S. banks this month, and nobody’s quite sure why.
The Federal Reserve releases data on the assets and liabilities of commercial banks every Friday. The most current figures, covering the first full week of 2013, show the largest...
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Nazi Goebbels’ Step-Grandchildren Are Hidden Billionaires
28.01.2013 11:55
Bloomberg: In the spring of 1945, Harald Quandt, a 23-year-old officer in the German Luftwaffe, was being held as a prisoner of war by Allied forces in the Libyan port city of Benghazi when he received a farewell letter from his mother, Magda Goebbels -- the wife of Nazi propaganda...
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Euro Crisis Seen Reaping Social Toll With Record Jobless
28.01.2013 11:51
Bloomberg: Euro-area jobless data this week will expose the social cost of last year’s debt crisis and recession on southern European economies as unemployment across the region probably rose to a record in December.
Unemployment in the 17-nation bloc climbed for a fifth month to 11.9 percent,...
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Swiss Ministers Seek More Depreciation of ‘Strong’ Franc
28.01.2013 11:50
Bloomberg: Swiss ministers said the franc’s strength remains a concern even after its recent slide against the euro to the weakest in 20 months.
“Euphoria is misplaced” and more depreciation is needed, Finance Minister Eveline Widmer-Schlumpf told reporters at the World Economic...
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Davos leaders uneasy over glut of easy money
28.01.2013 11:42
(Reuters) - The world is awash in easy money, with consequences that are starting to worry some central bankers and business leaders at the Davos World Economic Forum (WEF), though so far inflation fears seem overdone.
With developed world government finances constrained by huge...
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