• Germany edition

Economy

The following articles have been tagged with "Economy":

Ex-banker: German euro rescue is Holocaust guilt

Politics: 21 May 12
Ex-central banker turned controversy merchant Thilo Sarrazin has attracted fresh outrage with a book claiming Germany's European policy is driven by guilt for World War II and the Holocaust. READ »

Obama and Merkel agree: austerity and growth

Politics: 20 May 12
US President Barack Obama and German Chancellor Angela Merkel agreed on Saturday the eurozone should not abandon fiscal reforms even as it pursues measures to revive growth, the White House said. READ »

Merkel awaits crunch first meet with Hollande

Politics: 15 May 12
Germany and France test their historic bond on Tuesday with new French President Francois Hollande due in Berlin early on Tuesday evening in search of compromise over the eurozone crisis. READ »

German investor confidence tumbles

Business & Money: 15 May 12
German investor confidence fell sharply in May, following five straight months of increase data showed Tuesday, while a poll of Financial analysts showed growing concern about the eurozone debt crisis. READ »

'Made in Germany' goods help dodge recession

Business & Money: 15 May 12
Germany has avoided recession despite the resurgent eurozone debt crisis, official data showed on Tuesday, confirming the resilience of Europe's top economy to the surrounding turmoil. READ »

Hollande's party attacks Merkel ahead of meeting

Politics: 14 May 12
As German Chancellor Angela Merkel prepares to meet new Socialist French President Francois Hollande in Berlin on Tuesday, his party has attacked her, saying they will not allow her to lead Europe. READ »

Bundesbank tells France: 'hands off!'

Business & Money: 12 May 12
Bundesbank president Jens Weidmann warned French president-elect Francois Hollande on Saturday against tampering with the European Central Bank or the EU fiscal pact. READ »

Opposition blocks €6.1 billion tax cut

Business & Money: 11 May 12
The German government was left reeling on Friday when the opposition parties blocked a €6.1 billion tax cut for low-income earners in the upper house of parliament, the Bundesrat. READ »

Finance Minister OKs three percent inflation

Business & Money: 10 May 12
German Finance Minister Wolfgang Schäuble said on Thursday that a German inflation rate of up to three percent was tolerable, despite eurozone rules setting a target of around two percent. READ »

Merkel braces for biggest state election

Politics: 10 May 12
Voters in Germany's most populous state go to the polls Sunday in a closely watched gauge of Chancellor Angela Merkel's political fortunes ahead of a national vote next year in Europe's top economy. READ »

Merkel to Hollande: 'The eurozone looks to us'

Business & Money: 8 May 12
German Chancellor Angela Merkel wrote to French president-elect Francois Hollande on Tuesday saying that the eurozone was looking to them to take the "necessary decisions" to resolve the debt crisis. READ »

Merkel makes nice to new French president

Politics: 7 May 12
German Chancellor Angela Merkel reached out to new French President Francois Hollande on Sunday evening, inviting him to Berlin, despite having campaigned for his rival during the election campaign. READ »

Merkel loses power in state election

Politics: 6 May 12
German Chancellor Angela Merkel's centre-right coalition lost power in the state of Schleswig-Holstein, first estimates showed Sunday, after a vote that could presage national elections next year. READ »

Oktoberfest boss attacks boozing and music

Society: 4 May 12
Changes are afoot for Munich’s legendary Oktoberfest, as a plan to crack down on binge-drinking, loud live music and endless queuing for seats will be examined by the city council. READ »

'Petrol police' set to fight pump price hikes

Business & Money: 2 May 12
Germany is set to introduce “petrol police” to collect and monitor fuel prices across the country – from import to the pump, in an attempt to combat soaring prices. READ »

Germany's Rupert Murdoch turns 100

National: 2 May 12
Revered and reviled German media tycoon Axel Springer, whose empire encompasses major opinion-making papers Bild and Die Welt, would have turned 100 on Wednesday, prompting praise and condemnation. READ »

Germans shopping more but growth still weak

Business & Money: 30 Apr 12
Retail sales in Germany rose in March but not by enough to offset the declines seen in the preceding two months, official data showed on Monday. READ »

Pirates try to clear name of 'Nazi' slurs

Politics: 30 Apr 12
Germany's upstart Pirate Party wrapped up a national congress Sunday aimed at distancing the powerful new political force from the far-right. READ »

Merkel: eurozone needs growth as well as cuts

Business & Money: 25 Apr 12
German Chancellor Angela Merkel reiterated on Wednesday that the eurozone needed economic growth as well as deficit-cutting measures. Germany continued to register slight growth, while the UK slipped into recession. READ »

German economy retains confidence in crisis

Business & Money: 20 Apr 12
Business confidence in Germany beat expectations to rise again in April, underlining the resilience of Europe's biggest economy to the long-running debt crisis, data showed on Friday. READ »

German research centres face huge back-tax bill

Business & Money: 19 Apr 12
Germany’s top scientific research centres could be slapped with a multimillion-euro tax bill after it emerged that they had wrongly claimed special tax status for years. READ »

US solar panel firm leaves gloomy Germany

Business & Money: 18 Apr 12
German solar energy took another blow this week when US company First Solar confirmed the closure of a Brandenburg factory and the loss of more than 1,200 jobs. READ »

German ship 'carrying guns for Assad' stopped

National: 16 Apr 12
A German freighter thought to be taking Iranian weapons to the Syrian government – in violation of the European embargo - has been stopped. The shipping firm has denied all reports of the ship having arms on board. READ »

Soros: Germany should bail out the euro

Business & Money: 15 Apr 12
Europe needs a new approach to saving the euro, and Germany should finance it, says star investor and hedge fund manager George Soros. READ »

Iran cuts oil exports to Germany

Politics: 11 Apr 12
Iran has stopped oil imports to Germany and reduced its consumption of EU products as the European Union moves towards a total embargo on Iranian oil, Iranian media reported on Wednesday. READ »

Healthcare to produce 70,000 jobs in 2012

Business & Money: 10 Apr 12
The healthcare industry could create tens of thousands of new jobs this year, the German Association of Chambers of Commerce and Industry said in a report published on Tuesday. READ »

Frankfurt airport night flight ban confirmed

Society: 4 Apr 12
A German court upheld Wednesday a ban on night flights at Frankfurt airport, Europe's third busiest, in a move that will deal a serious blow to freight companies including Lufthansa Cargo. READ »

Giant cargo ships head to Hamburg after river vote

Business & Money: 4 Apr 12
A project to deepen more than 130 kilometres of the River Elbe so giant cargo ships can reach Hamburg harbour is likely to go ahead after a crucial vote – although environmentalists have vowed to challenge the decision in court. READ »

Government tackles holiday petrol price hikes

Business & Money: 30 Mar 12
Higher petrol prices just as school holidays start could be a thing of the past, with the German government taking steps to stop fuel firms taking advantage of people’s travel plans. READ »

'No' to help for Schlecker staff turns political

National: 30 Mar 12
As around 10,000 workers at drugstore chain Schlecker found dismissal letters in their post boxes on Friday, Chancellor Angela Merkel’s coalition was riven by the refusal of her partner party to support a programme to help staff. READ »

German job market stays buoyant

Business & Money: 29 Mar 12
The outlook for jobs in Germany is buoyant, despite a struggling economy, new statistics revealed Thursday show. The number of Germans in work rose once again in February. READ »

Italian PM: Germany to blame for EU debt

Business & Money: 28 Mar 12
The Italian Prime Minister has blamed Germany for Europe's debt woes which, he told reporters on Wednesday, lie in irresponsible parenting from stronger member countries during the eurozone’s infancy. READ »

Voters deal Merkel surprise victory

Politics: 25 Mar 12
German Chancellor Angela Merkel's party received an electoral boost on Sunday in a regional vote which also handed her coalition allies a big defeat ahead of national elections in 2013. READ »

US airlines fight 'cash-grab' ticket tax

Business & Money: 23 Mar 12
American airlines have launched a legal bid to strike out a tax which adds up to €45 onto every transatlantic plane ticket leaving German soil. READ »

Unemployment to keep falling in 2012

Business & Money: 22 Mar 12
The number of people out of work in Germany will continue to fall this year, even if not so sharply as in the past two years, the Institute for Employment Research (IAB) forecast on Thursday. READ »

Petrol firms 'sneak profits into price rises'

National: 21 Mar 12
German petrol prices are at record highs – and nearly half the increase has been funnelled directly into industry profits, a new study shows. READ »

Internet's share of economy on the rise

Business & Money: 19 Mar 12
The Internet is becoming increasingly important for the German economy, which traditionally has been based firmly on manufacturing and export. READ »

Corruption 'will cost Germany €250 billion'

Business & Money: 16 Mar 12
Corruption will blow a quarter-trillion-euro hole in Germany's economy in 2012, despite the country being near the top of Transparency International's anti-corruption index, an alarming new study has estimated. READ »

Merkel wants her finance minister in euro top job

Business & Money: 16 Mar 12
Chancellor Angela Merkel has tipped German Finance Minister Wolfgang Schäuble to take over as head of the Eurogroup of eurozone finance ministers, a newspaper reported on Friday. READ »

China biggest foreign investor in Germany

Business & Money: 15 Mar 12
China was the top foreign investor in Germany last year, ahead of the United States, Switzerland and France, the government development agency Germany Trade & Invest said on Thursday. READ »

Schlecker tells staff who will lose jobs, starts sale

Business & Money: 15 Mar 12
Around half the people working at bankrupt drug store chain Schlecker discovered on Wednesday evening that their shops were to be closed down – and they were out of a job. READ »

Merkel defends nuclear phase out

National: 10 Mar 12
Angela Merkel has defended Germany's plans to phase out nuclear power, speaking on the eve of the first anniversary of Japan's Fukushima disaster. READ »

German industry rebounds into 2012

Business & Money: 8 Mar 12
Industrial activity in Germany rebounded in January after grinding to a halt at the end of last year, official data showed on Thursday. READ »

Adult German language learners on the rise

Society: 4 Mar 12
Undeterred by tricky grammar and complicated constructions, a record number of adults are trying to learn German at the 150 Goethe Institutes worldwide, but this enthusiasm is not shared among European high school students. READ »

FDP politician wants Greeks to say 'thank you'

National: 4 Mar 12
Greek opposition politicians are not grateful enough for German and European efforts to stabilize their economy, a leading German coalition partner politician said in an interview published Sunday. READ »

German economy 'scrapes past recession'

Business & Money: 29 Feb 12
The German labour market continued to shrug off the eurozone debt crisis during February, with unemployment holding steady at low levels, while a stable first quarter should enable the economy to just scrape past a dip into recession. READ »

German objections stop euro firewall talks

Politics: 28 Feb 12
German reluctance to boost funds to prevent debt contagion pushed the EU on Tuesday into cancelling eurozone talks on the matter despite pressure from G20 ministers. READ »

Consumer confidence hits year high

Business & Money: 28 Feb 12
German consumer confidence hit its highest level in a year, data showed on Tuesday, fuelled by households' rising income expectations despite the eurozone debt crisis. READ »

Kohl: Europe still about war and peace

Politics: 28 Feb 12
Former German Chancellor Helmut Kohl has warned against losing confidence in the benefits of a united Europe, saying “the bad ghosts of the past” were not gone and that the continent remained, “a question of war and peace.” READ »

Parliament strongly backs new Greek bailout

Politics: 27 Feb 12
German lawmakers voted overwhelmingly Monday to endorse a second multi-billion euro lifeline to avert a Greek bankruptcy which Chancellor Angela Merkel warned would entail incalculable risks. READ »

Robust growth, low joblessness slash deficit

Business & Money: 24 Feb 12
Robust growth and record low unemployment enabled Germany to slash its public deficit last year, even though the economy shrank slightly in the last quarter, official data showed on Friday. READ »

Cut in solar power support sparks row

Science & Technology: 24 Feb 12
Opposition parties accused Germany’s environment and economy ministers of endangering thousands of jobs as well as the country’s switch to renewables by cutting solar power subsidies. READ »

Greek journalist called Merkel 'dirty Berlin slut'

National: 23 Feb 12
A Greek radio station has been fined €25,000 for allowing one of its journalists to refer to German Chancellor Angela Merkel as a “dirty Berlin slut” on air. READ »

Business confidence index hits 7-month high

Business & Money: 23 Feb 12
German business confidence rose to a seven-month high in February as robust domestic demand helped protect the German economy against the debt crisis, data showed on Thursday. READ »

Gauck candidacy splits Merkel's coalition

Politics: 21 Feb 12
Joachim Gauck’s nomination for the German presidency nearly brought down Angela Merkel's coalition government, with her Christian Democratic Union accusing their junior partners the Free Democrats of blackmail. READ »

Greece no threat to world economy: ECB man

Business & Money: 20 Feb 12
Greece, which is teetering on the brink of bankruptcy, is "no threat to the world economy," Germany's European Central Bank executive board member Jörg Asmussen said on Monday. READ »

More strike chaos hits Frankfurt Airport

National: 17 Feb 12
Travel chaos at Frankfurt Airport is expected to worsen on Friday, as air traffic ground staff extend their strike. Hundreds of flights could be cancelled at Germany's biggest air hub. READ »

US to withdraw more than 11,000 troops

National: 17 Feb 12
The United States vowed Thursday to retain close military ties to its European allies after unveiling plans to withdraw more than 11,000 troops from Germany and Italy as part of a strategic shift to Asia. READ »

More than one million jobs vacant in Germany

Business & Money: 16 Feb 12
More than one million jobs in Germany are unfilled, a survey showed on Thursday, as unemployment in Europe's top economy stands at record lows and employers complain of a skills shortage. READ »

German economy shrinks at end of 2011

Business & Money: 15 Feb 12
The eurozone debt crisis brought the German economy, Europe's biggest, to a standstill at the end of last year, data showed Wednesday - but the pause in growth will prove only temporary, analysts said. READ »

Investor confidence tops 10-month high

Business & Money: 14 Feb 12
German investor confidence hit a 10-month high in February amid optimism Europe's top economy will be able to escape from the eurozone crisis relatively unscathed, data showed on Tuesday. READ »

OECD sees German growth slowing in 2012

Business & Money: 14 Feb 12
The Organisation for Economic Co-operation and Development (OECD) has predicted that Germany, Europe's top economy, will grow by 0.4 percent this year, the Economy Ministry in Berlin said on Tuesday. READ »

Greece leaving the euro not so scary - Germans

Business & Money: 13 Feb 12
German ministers continued to increase pressure on Greece to implement savings measures over the weekend, despite the Greek parliament voting clearly in favour of a radical reform packet which provoked riots in Athens. READ »

Merkel's French connection

Analysis & Opinion: 10 Feb 12
German Chancellor Angela Merkel is running for re-election – in France. The Local’s Marc Young takes a closer look at the “Merkozy” phenomenon. READ »

Germans don't trust Greece to tighten belt

Business & Money: 10 Feb 12
Two thirds of Germans voiced doubt in a poll published Friday that heavily-indebted Greece is serious in its commitment to pare down its spending in order to receive a bailout and avoid bankruptcy. READ »

Germany signs €3 bln in deals with Kazakhstan

National: 8 Feb 12
Germany and Kazakhstan signed agreements Wednesday worth €3 billion ($4 billion) to cooperate on raw materials, industry and technology in Berlin. READ »

Exports top €1 trillion despite euro crisis

Business & Money: 8 Feb 12
German exports topped €1 trillion for the first time in 2011, but fell at year-end as the eurozone debt crisis hit demand for goods made in Germany, official data showed on Wednesday. READ »

Merkel helps boost conservatives' popularity

Politics: 8 Feb 12
Chancellor Angela Merkel’s conservatives are flying high in a new opinion poll showing them garnering their best result since her beleaguered coalition took power in 2009. Germans are also more confident the euro crisis can be beat. READ »

Wulff case 'a chance to open up German politics'

Politics: 7 Feb 12
As President Christian Wulff remains mired in allegations of impropriety, anti-corruption group Transparency International (TI) has called for politicians to use the case as a chance to open up German politics. READ »

Robust Germany faces rising 'burnout' problem

Society: 6 Feb 12
Germany, holding up better than its eurozone partners in the current economic crisis, is battling the increasingly widespread phenomenon of "burnout" which is supposedly costing its economy billions of euros each year. READ »

Industrial orders rise amid eurozone gloom

Business & Money: 6 Feb 12
Germany, the eurozone's biggest economy, saw the release of further favourable economic data on Monday with industrial orders in December partly reversing steep falls seen the previous month. READ »

Sarkozy looks to Merkel for re-election help

Politics: 6 Feb 12
Increasingly citing Germany as a model for France, President Nicolas Sarkozy will look to give his re-election hopes a boost Monday in a joint TV interview with Chancellor Angela Merkel. READ »

China offers Merkel some comfort for Europe

Business & Money: 6 Feb 12
China's Premier Wen Jiabao said a stable Europe was key to stability at home, in comments published Sunday, at the end of a week that saw Germany's chancellor visit Beijing. READ »

Europe’s German agenda

Analysis & Opinion: 3 Feb 12
The economy in shambles, angry street protests, and the government on the brink after passing unpopular reforms. But this is not Greece in 2012 – it was Germany a decade ago. Marc Young looks back to see an agenda for the future. READ »

Merkel urges China to press Iran over nukes

Politics: 2 Feb 12
German Chancellor Angela Merkel urged Beijing Thursday to put pressure on Iran over its controversial nuclear programme as she began an official visit to China on Thursday. READ »

Robust economy leaves long-term jobless behind

Business & Money: 31 Jan 12
Long-term unemployed people are still having difficulty finding a job despite Germany’s robust economy in recent years, according to a media report on Tuesday. READ »

China's Sany to buy Putzmeister

Business & Money: 30 Jan 12
Putzmeister, a German family-owned engineering firm, is to being taken over by Chinese construction equipment giant Sany Heavy Industry, the German company said on Monday. READ »

German firms expect robust exports in 2012

Business & Money: 30 Jan 12
Germany, the world's number two exporter, expects healthy growth in foreign demand for its goods this year thanks to booming emerging markets and a nascent US recovery, according to a report on Monday. READ »

Merkel backs away from Greek budget control

Politics: 30 Jan 12
Chancellor Angela Merkel sought Monday to placate critics of a German proposal to put Greece under the supervision of an EU budget tsar, saying Europe must help Athens enact economic reforms. READ »

Germany rakes in record tax income

Business & Money: 27 Jan 12
December saw the biggest tax haul in German history, it was reported Friday – but the recent revenue boom is slowing down. READ »

Merkel: Germany can't save euro alone

Politics: 26 Jan 12
Chancellor Angela Merkel has warned that Germany was not prepared to expose itself to further damage on the markets in order to save the eurozone as the IMF called for a pooling of rescue funds. READ »

Business confidence gets early 2012 boost

Business & Money: 25 Jan 12
The German economy, Europe's biggest, got off to a good start in the new year, with business confidence rising for the third month in a row, the Ifo economic institute said on Wednesday. READ »

Asylum applications jump to eight-year high

National: 24 Jan 12
The number of people seeking asylum in Germany has jumped to its highest point in eight years, although it is still well below early-90s levels, a newspaper report said Tuesday. READ »

Berlin urges swift action on EU transaction tax

Business & Money: 20 Jan 12
Germany pushed for quick decisions to be made on a mooted tax on financial transactions on Friday, amid British fears that such a levy could drive away business from Europe. READ »

Green Week: Animal-friendly food costs more

Society: 19 Jan 12
The biggest agriculture show in the world opens in Berlin on Friday, with the dominant message being: Animal-friendly agriculture is possible, but it costs extra. READ »

Banks 'stashing money in fear of meltdown'

Business & Money: 19 Jan 12
Germany’s economy is still in the danger zone, with banks stockpiling money in the European Central Bank (ECB) instead of lending it, Jürgen Fitschen, next in line to lead Deutsche Bank, warned on Thursday. READ »

Chinese poised to take German tourism crown

Society: 18 Jan 12
Germans are world champions of travel, spending more than €60 billion on trips abroad last year - but the Chinese could soon overtake them, according to Commerzbank statistics released Tuesday. READ »

Tighter 'Made in Germany' rules criticised

Business & Money: 16 Jan 12
New rules being planned by the European Union which would limit the use of the label “Made in Germany” could cause “immense damage”, Germany’s industry lobby group warned on Monday. READ »

Westerwelle: Germany 'still stands by Greece'

National: 16 Jan 12
Greece and Europe belong together, Germany's foreign minister said Sunday after meeting the debt-crippled country's leaders ahead of a week of tough talks for Athens with its creditors. READ »

Sarkozy wants France to be more like Germany

National: 15 Jan 12
As the German economy shines, next door France plunges into recession, shedding jobs and losing its top credit rating. But President Nicolas Sarkozy has a plan to save the country, by making it more like Germany. READ »

Merkel: Europe faces 'long road' to restore confidence

National: 14 Jan 12
German Chancellor Angela Merkel said Saturday that Europe still had a "long road ahead" to restore investor confidence, after a raft of credit rating downgrades of EU countries. READ »

Immigrants stop 8-year population decline

National: 13 Jan 12
A large number of new immigrants pushed up Germany's population in 2011 for the first time in eight years, the national statistics office, Destasis, said on Friday. READ »

Merkel praises Italian economic reforms

Business & Money: 11 Jan 12
Chancellor Angela Merkel on Wednesday said she had "great respect" for the economic reforms implemented by Italy, as the crisis-wracked country battles to bring down its debt. READ »

Rays of light as Merkel seeks eurozone fixes

Business & Money: 11 Jan 12
Ratings agency Fitch offered a ray of light for the eurozone Tuesday as German Chancellor Angela Merkel met IMF chief Christine Lagarde on Greece's struggle to cut its debt, amid tentative signs of progress. READ »

Coalition at risk over financial transaction tax

Politics: 10 Jan 12
Chancellor Angela Merkel is facing a crisis in her governing coalition after agreeing with French President Nicolas Sarkozy to push for a financial transaction tax, even if Britain opts out. READ »

Merkel, Sarkozy vow to solve eurozone crisis

Business & Money: 9 Jan 12
The leaders of Germany and France put aside their differences on a controversial tax of financial market transactions and promised to speed up various measures to ease the eurozone crisis, as the euro flirted with new market lows Monday. READ »

Economists: Germany in a recession now

Business & Money: 9 Jan 12
As European leaders struggle to stave off a looming recession this year, Germany – the continent’s biggest and healthiest economy – is probably already in one, according to economists surveyed by Die Welt newspaper. READ »

Germany to 'escape recession' in 2012

Business & Money: 4 Jan 12
Germany will escape recession this year despite the ongoing eurozone debt crisis and return to solid growth in 2013, one of the country's top institutes said Wednesday. READ »

Germany and France end tussle over key ECB job

Business & Money: 4 Jan 12
The European Central Bank put an end Tuesday to a bitter battle between France and Germany over a key post within the bank by naming a Belgian to the highly coveted position of chief economist. READ »

Unemployment falls to record low

Business & Money: 3 Jan 12
The German labour market is continuing to hold up against the crisis and unemployment dropped to its lowest level in 20 years in the whole of last year, new data showed on Tuesday. READ »

Highlights
Photo: DPA
OPINION »
Thilo Sarrazin says Germany's attempts to save the euro are down to Holocaust guilt, and Europe doesn't need the single currency. Do you agree? Have your say
Photo: DPA
SOCIETY »
This week’s Local List turns the spotlight – sorry, the megawatt interrogation lamp – on Germany’s cold-blooded coterie of Hollywood film villains.
Photo: DPA
LIFESTYLE »
What's on in Germany: May 17 - 23
Photo: Tony Streeter
NATIONAL »
The British Military Train took soldiers between Berlin and West Germany during the Cold War. It took to the rails one last time, laden with former regulars. James Gheerbrant was there.
Photo: DPA
LIFESTYLE »
The Local's English-language movie listings for Germany
Photo: LuAnne Cadd
SOCIETY »
German policeman and dog trainer Marcel Maierhofer told The Local about a new project to team up bloodhounds with rangers in Congo to help fight poaching.
Photo: DPA
SOCIETY »
Pee sitting down and make eye contact while clinking glasses and you can't go far wrong. This week's Local List collates essential etiquette tips for foreigners in Germany.
Photo: DPA
SOCIETY »
Football violence is increasing in Germany, but the Bundesliga is booming. The Local asked Jacob Sweetman of No Dice magazine to square the circle.
Photo: Steffen Shellhorn
SOCIETY »
Nelson the baby parrot at Leipzig Zoo, dubbed Germany's ugliest bird, has been rejected by his mother, paving the way for what could be a Knut-esque career in the limelight.
Photo: Nikater
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