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Economy

KfW slammed for mistakenly wiring Lehman €300 million

State development bank KfW was assailed by the German government on Wednesday for mistakenly transferring €300 million ($427 million) to Lehman Brothers just as the US investment bank was collapsing.

Economy

Merkel demands better global financial regulation

German Chancellor Angela Merkel on Wednesday called for tighter regulatory control on the international financial system following the recent turmoil on Wall Street.

Economy

Analysts expect German banks to cope with Lehman's demise

German economists and banking experts said on Tuesday the world’s third largest economy would likely cope fairly well with the fallout from the demise of US investment bank Lehman Brothers.

Economy

Steinbrück sees Germany weathering global financial crisis

Despite dark clouds on the horizon, Finance Minister Peer Steinbrück said on Tuesday Germany was well positioned to weather the financial crisis that brought down US investment bank Lehman Brothers.

Economy

Steinbrück rejects EU stimulus plan idea

German Finance Minister Peer Steinbrück on Friday rejected the idea of a European stimulus plan to revitalize the economy, as EU finance chiefs gathered to map out a way to avert a recession.

Economy

ECB sees euro-zone credit squeeze easing

A squeeze on lending to home buyers and businesses that followed the US subprime crisis has shown slight signs of easing in the last three months, the European Central Bank said on Friday.