Bundesbank
Germany: Wave of layoffs in the chemical industry
The deep crisis in the German heavy industry is taking on a domino effect, and the very foundations of the German economic miracle, as it was built post-war, are literally shaking. Next in line is the German industry Evonik, headquartered in Essen, in the Ruhr Valley, the traditional “cradle” of German heavy industry in the most populous state of North Rhine-Westphalia.
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ECB is ready to proceed with a new interest rate cut
The European Central Bank is set to cut interest rates again by 25 basis points on Thursday, just days before the US Federal Reserve (Fed) opens its own monetary policy easing cycle.
EU Economy Defies Recession: Steady Growth in Q4 2023
Preliminary data from the European statistical office Eurostat reveals that the Eurozone and the European Union managed to maintain economic stability in the fourth quarter of 2023, bouncing back from a 0.1% contraction in GDP during the previous quarter.
German economy shrank less in Q4 than reported: official data
Germany's economy shrank at a smaller rate in the fourth quarter of last year than originally thought, despite the blows leveled by supply chain woes and the pandemic, official data showed on Feb. 25.
Gross domestic product in Europe's top economy slipped 0.3 percent in the last three months of 2021 compared to the previous quarter, the federal statistics office Destatis said.
Germany to enter recession due to virus
The Bundesbank has said the latest wave of the coronavirus pandemic risked pushing the German economy - Europe's largest - into a technical recession before staging a recovery from the second quarter.
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Increase of Corporate Debt May Put a Mark on Post-Pandemic Europe for Years
Even when (not if) coronavirus pandemic has passed, Europe could find the most damaging economic legacy is not the vast piles of government debt but the hundreds of billion euros in liabilities that have landed on companies.
ECB prepares for the worst: Life without the Bundesbank
The European Central Bank (ECB) is drafting contingency plans to carry out its multi-trillion bond-buying program without the Bundesbank in case Germany's top court forces the main participant in the scheme to quit, four sources told Reuters.
Central banker: German ruling on ECB will focus minds on European integration
A legal wrangle over the European Central Bank's bond-purchasing program will help focus minds on the need for closer European integration, Greek central bank chief Yannis Stournaras said on Tuesday.
Top EU court says it alone decides if EU bodies are breaking bloc's rules
The European Union's top court said on Friday it alone has the power to decide whether EU bodies are breaching the bloc's rules, in a rebuke to Germany's highest court, which this week rejected its judgment approving the ECB's trillion-euro bond purchases.
ECB ‘undeterred’ by German court ruling over bond buying
The European Central Bank pushed back on Thursday at a German court's attempt to curb its power to buy government bonds, saying it was "more determined than ever" to pull the eurozone out of its worst economic crisis in nearly a century.