Germany

IMF's Rajan sees a very promising 2006

The International Monetary Fund's Chief Economist on Friday 20 January predicted better global economic growth in 2006 but warned the European Central Bank against raising interest rates too quickly.

Eurosystem central bank staff cuts gather pace

The number of central bankers in the eurosystem stands at 49,559, a fall of 5.3% or 7,237 staff since one year ago, and 11.9% lower than when the euro was launched in 1999, reveals the 2006 edition of Central Banking Publications' Central Bank Directory.

Deutsche Bundesbank Monthly Report, December 2005

The Deutsche Bundesbank published the English version of its December 2005 Monthly Report on 10 January. The German central bank said the construction industry may have stabilized in the last few months after declining in the past few years.

Deutsche Bundesbank Monthly Report, November 2005

The Deutsche Bundesbank published the English version of its November 2005 Monthly Report on 20 December. The German central bank said it still expects GDP to grow around 1 pct this year following a faster-than-expected rise in the third-quarter…

Jurgen Stark on the IMF's strategic direction

In an Editorial published on Friday 6 January, Jurgen Stark, currently vice president of the Deutsche Bundesbank, says efforts to strengthen the IMF's surveillance function and the so-called "exceptional access framework" - must now be locked in and…

Bundesbank rejects report of 1,500 job cuts

The German government is planning to cut about 1,500 jobs at the Bundesbank by the end of 2007, Der Spiegel magazine reported, quoting a letter Barbara Hendricks, secretary of state to the finance ministry, sent to Volker Wissing, a member of the lower…

Germany nominates Stark for ECB Board

The German government has nominated Bundesbank Vice-President Juergen Stark to join the European Central Bank's Executive Board when its chief economist, Otmar Issing, retires next year.

Bundesbank official is pick for ECB

This article published Wednesday 14 December looks at the chances of Jurgen Stark replacing Otmar Issing at the European Central Bank. The choice of Stark would bring to the bank someone who was intimately involved with the introduction of the euro in…

Germany against gold sale to fill budget holes

Conservatives in German Chancellor Angela Merkel's ruling coalition remain opposed to using central bank gold reserves to fill budget holes, a senior lawmaker was quoted as saying on Wednesday 14 December.

Stark tipped as Issing's replacement at ECB

Germany wants to hold its seat on the European Central Bank's executive board and could nominate Bundesbank Vice President Juergen Stark to replace Otmar Issing next year, Deputy Finance Minister Thomas Mirow said in an interview this week.

Comment: Reshuffle at the ECB?

When Otmar Issing retires from the ECB's 6-member executive board next year, Germany's seat is likely to be taken by Jurgen Stark, currently vice-president of the German Bundesbank.

ECB's Weber worries over credit growth

The European Central Bank's mid- to long-term strategy is at risk from the pace of credit growth in the euro zone and this danger must be countered, ECB Governing Council member Axel Weber was quoted as saying on Sunday 4 December.

Buba, BaFin, Bank of Italy sign agreement

The Bundesbank, Germany's financial watchdog BaFin and Italy's central bank Banca d'Italia have signed an agreement to cooperate in the regulation of Unicredito Italiano SpA following its takeover of HVB Group, according to a statement published by BaFin.

ECB's Bini Smaghi says rates could rise

The European Central Bank could raise its official interest rate to 2.25 pct from 2.00, when the bank's governing council meets tomorrow, said ECB executive Lorenzo Bini Smaghi on Wednesday 30 November

Deutsche Bundesbank Monthly Report, October 2005

The Deutsche Bundesbank published the English version of its October 2005 Monthly Report on 25 November. Following a sharp improvement at the beginning of the third quarter, industrial business activity slackened somewhat in August.

Germany supports former Polish PM as OECD chief

Outgoing German Chancellor Gerhard Schroeder said recently that both he and designated chancellor Angelor Merkel supported former Polish Prime Minister Marek Belka as the new chief of the Organization for Economic Cooperation and Development.

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