Peer Steinbrueck has long been critical of a proposed treaty that would see Germany receive billions of euros from Switzerland in return for dropping a demand to get the names of suspected tax cheats.
BERLIN-- The man who will challenge Angela Merkel to lead Germany next year has accused her government of failing to address the underlying causes of Europe's debt woes.
ZURICH, Oct 1- Politicians and commentators in Switzerland are worried that the nomination of Peer Steinbrueck- a critic of Swiss banking secrecy- to challenge Angela Merkel in an election next year may foil a tax deal with Germany and fan anti-Swiss sentiment.
"Super" Mario Draghi of the European Central Bank has a super problem: the markets might love him, the bankers might love him, politicians from Athens to Dublin might love him, but the German people don't. He's been called anything from "bankers' buddy" to "counterfeiter of coins", and depicted by the tabloid press as a devil sporting horns and a trident, set against a distinctly angelic Bundesbank president Jens Weidmann.
Praise all around for Mario Draghi and his ECB's bold strategy of "conditional" bond buying across the euro zone, if and when deemed necessary. "This is the big game changer", insists Polish finance minister Jacev rostowski, echoing what virtually all of his colleagues both inside and out of the EU have voiced over these past weeks.
Euro zone leaders may feel like they are amid the throes of the longest hangover ever as the region struggles with an addiction to debt and finds it hard to sober up. But never fear! CNBC is on hand to help with its Twelve Steps guide to put the euro zone back on the path to recovery.
A deepening euro zone recession will force the European Central Bank into full-blown quantitative easing within six months, David Owens, Chief European Economist at Jefferies International told CNBC Wednesday.
Last week’s decision by the European Central Bank to make unlimited purchases of government bonds in secondary markets was both necessary and bold. Mario Draghi, the ECB’s president, deserves credit for having obtained agreement for this controversial step, against the sole, albeit significant, opposition of Jens Weidmann, president of Germany’s redoubtable Bundesbank. It is a pity that the ECB did not do this before the crisis in sovereign debt reached Spain and Italy. Yet this delay is not surprising: eurozone policy makers have, perhaps inevitably, done too little, too late.The FT reports.
Spanish Prime Minister Mariano Rajoy said on Monday he expected the European Union to set reasonable conditions for Spain if the country sought a bailout, saying he should not be told exactly where to trim public spending and would not cut pensions.
Analyzing Mario Monti's interview with CNBC's Maria Bartiromo, with Brian Wesbury, First Trust Advisors, and Anthony Chan, Chase Wealth Mgmt.
You know me. I am like a Joan of Arc of the European Central Bank. For the better part of its existence I have reported about and vigorously defended its mandate and most of the time its policies and strategy. Even at times when it was facing a barrage of criticism from infuriated or frustrated markets. So nobody, nobody ever accuse me of being an ECB-, let alone euroskeptic.
George Soros has issued a passionate plea to the German government to lead the eurozone out of recession by boosting growth, creating a joint fiscal authority and guaranteeing common bonds, or itself leave the currency union to save the future of Europe. The FT reports.
After Thurday’s announcement by the president of the European Central Bank, Mario Draghi, in which he detailed the central bank’s pledge to buy government bonds of struggling euro zone countries, newspapers in Germany have hit out at the plan with surprisingly few exceptions.
Jack Bogle, Vanguard Group founder, reacts to the ECB's new bond buying program. "The market generally takes these things far too seriously," he says. "These are stopgap solutions -- which is really all we can ask for."
European Central Bank Chief Mario Draghi has announced a new "unlimited" bond-buying program to help heavily indebted euro zone countries, but will it work?
Discussing the ECB's plan to buy short-dated Spanish and Italian bonds and the future of the euro, with CNBC's Kelly Evans, Michelle Caruso-Cabrera, Silvia Wadhwa, and Barclays' Barry Knapp.
The European Central Bank will refrain from publishing any formal cap on bond yields when it announces a new plan to buy distressed eurozone sovereign debt at its governing council meeting on Thursday, two people familiar with the matter said. The FT reports.
A slowdown in Germany could make politicians there even more averse to a bailout for the neighbors, this strategist says.
The euro zone will stay intact even if a vulnerable country ends up leaving the currency bloc, Luxembourg’s Finance Minister told CNBC.
Interest rates paid by companies in the eurozone’s weaker economies have surged, highlighting the bloc’s fragmentation as the European Central Bank loses control of borrowing costs. The FT reports.