Insolvency administrators are expecting a record number of German companies to go bust towards the end of this year and into 2010, as the effects of the global recession take hold.
Several employees from a regional branch of Germany’s central bank were injured last week by mysterious vapours emanating from redeemed bank notes, according to a letter obtained by The Local on Wednesday.
Most of April has been blessed with copious sunshine, but as the month draws to a close it will bring just a few of its proverbial showers. The rest of the May Day holiday weekend promises glorious barbecuing weather for much of Germany.
Behind in the polls ahead of next month’s state election, the Social Democratic candidate to become premier of Hesse, Thorsten Schäfer-Gümbel, on Monday called for Germany’s rich to loan the government money to help combat the economic downturn.
The German state of Hesse dissolved its parliament on Wednesday to make way for new elections after a spectacular rebellion among embattled Social Democrats kept them from forming a ruling coalition.
Rebel Social Democrats derailed the formation of a left-wing minority government in the German state of Hesse on Monday amid ongoing opposition to cooperating with the hard-line socialist Left party.
German Chancellor Angela Merkel called on Friday for a framework of international market rules – in place of national regulations – to prevent financial crises like the one now threatening the world economy.
The European Central Bank cut its main lending rate by half a percentage point to 3.75 percent on Wednesday in a concerted effort with the world's leading monetary authorities to stem the growing global financial crisis.
Germany’s leading stock index the DAX plunged below the psychologically important 5,000 mark in early trading on Wednesday, as investor flight from equities continued.
The German government raced on Monday to reassure investors and individual savers that it will protect the Europe's biggest economy from falling victim to the global financial crisis.
Europe should prepare a financial markets safety net similar to one being cobbled together in the United States, the head of the biggest German bank, Deutsche Bank, said on Wednesday.
German Chancellor Angela Merkel said on Tuesday that she expected a stalled US financial rescue package to be passed by lawmakers this week, as it is needed to bring "new confidence" to the markets.
Germany on Monday said the country would not participate in the US government’s $700-billion bailout package for troubled banks, as Chancellor Angela Merkel renewed her call for greater regulation of the financial sector.
Three officials called "Germany's dumbest bankers" have been suspended at state development bank KfW after it mistakenly wired a huge sum of money to Lehman Brothers as it was collapsing.
Emergency services were working flat out on Saturday to restore order to southwest Germany after storms with hailstones the size of tennis balls injured people, killed zoo animals, and stopped traffic.
Strikes brought transport chaos to Germany on Wednesday as airport workers joined labour protests by other public sector workers, causing hundreds of flight cancellations and long delays around the country.
