Merkel backs the idea of a European Monetary Fund
The Dollar Business Bureau The German Chancellor Angela Merkel warmed to the idea of creating a combined European finance and the forming of a European Monetary Fund. This signalled a willingness on the part of the Chancellor to deepen the euro zone integration. On the idea floated by her finance minister Wolfgang Schaeuble, Merkel said she supported “the very good idea” to turn the euro zone’s rescue fund, the European Stability Mechanism (ESM), into a European Monetary Fund. In May 2010, the European Financial Stability Facility was formed which was later called the ESM. The ESM works alongside the IMF in assisting Europe’s financial programmes. The creation of ESM was a powerful step offering a powerful means to backstop sovereign debt markets and ...
German industrial production fell for the first time in June
The Dollar Business Bureau Germany’s industrial output had unexpectedly declined in June - for the first time this year, a data by German Ministry of Economic Affairs revealed on Monday. However, the industrial production increased overall in the second quarter of this year. The production fell by 1.1% in June after increasing 1.2% in May, the data showed. But production in factories and construction companies in Germany was 1.8% higher in the period April-June compared to the previous quarter. The Ministry said the upward trend would continue as indicated from the order levels and favourable business climate. “As unexpected as today's drop in industrial production has been, the German economy is still on track to post another strong quarter,” Carsten Brzeski, an economist with ING ...
Merkel visits Argentina, discusses trade and climate change
The Dollar Business Bureau During her visit to Argentina, Germany’s Chancellor Angela Merkel said on Thursday, that the two countries have agreed to promote multilateral trade and to protect the environment from climate change. The German Chancellor is on a visit to Latin American countries ahead of the G-20 summit, to be held in July in Germany. Merkel has criticised the protectionist stance taken by the US and called the decision of President Donald Trump of withdrawing from the Paris climate accord ‘extremely regrettable.’ In a press conference with Argentina’s President Mauricio Macri, she said that both countries want to be a part of the ‘interconnected world’ and are dedicated to protecting the Paris accord. “No one alone in this world — no individual and no ...
After Modis Germany visit, what do Spain and France hold for India?
The Dollar Business Bureau After completing his engagements in Germany, Prime Minister Narendra Modi arrived in Madrid, the capital of Spain, on the second leg of his four-nation, 6-day tour focussed at enhancing bilateral economic cooperation with these four nations and to invite more investments into India. “Landed in Spain, marking the start of a very important visit aimed at improving economic and cultural relations with Spain,” Modi tweeted just after landing in Spain. Modi will be the first Indian Prime Minister to visit Spain in around 30 years. The last one was in 1988 by the then Prime Minister Rajiv Gandhi. “Hola Espana! Prime Minister Modi arrives in Madrid, first visit by an Indian Prime Minister in nearly three decades, is received by ...
India is seeking to double German investment: Ex-envoy
The Dollar Business Bureau India seeks to double the investment from Germany over the coming five years from the present 9.5 billion euros and it also wants a rise of two-fold in the number of German firms in the country, said a former India’s Ambassador to Germany on Tuesday. In the last few years, India has attracted around 74 German firms that have business ideas worth $1 billion of investment, Gurjit Singh told PTI. Prime Minister Narendra Modi is on a visit to Germany and held discussions with German Chancellor Angela Merkel, and also signed eight pacts. According to the latest news, Merkel was happy to, "develop cooperation with India. That's of huge importance and in no way directed against any other relationships and certainly not against the ...
Germany boasts robust trade and industrial growth in Feb 2017
The Dollar Business Bureau The automobile and production hub of Europe, Germany, boasted a 2.2% growth in economic output in the month of February, 2017. Underpinned by an increased domestic and global demand for machinery and automobiles, Germany's exports rose by 0.85, while imports declined by 1.6% - the result being a swelled trade surplus of 21.0 billion euros, up from 18.9 billion euros in the month of January. This was a robust start of the year for Germany, indicating that the economic ramifications of the 2008 financial crisis have been left far behind. Meanwhile, the industrial output of UK showed signs of slowing, as the uncertainty around Brexit catches up with its economy. The strong economic growth in Germany will give added thrust to Chancellor ...
Skill development high on agenda in Indo-German cooperation
The Dollar Business Bureau India looks forward for the cooperation of Germany in its new journey of ‘Make in India’, for economic development and employment. This was the statement of the Indian Prime Minister, Narendra Modi, to media, during a joint press statement with the German Chancellor Angela Merkel, at Berlin on Tuesday. Addressing the media, Narendra Modi said that the Government of India will establish a mechanism for the German companies to facilitate their businesses and investments in India. Referring to the Make in India’s goal towards skill development in the country, the Prime Minister expressed India’s willingness to pursue a skill development programme with Germany by strengthening industry involvement in skill development. Similarly, we intend to further ...
