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Germany

Inside Wirecard (FT)

June 28, 2020 | File Under: , , ,

Extensive series detailing Wirecard’s path to insolvency.

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Germany Weighs Measures Against U.S. Over Nord Stream Threat (Bloomberg)

June 28, 2020 | File Under: , , , , , ,

“Germany is preparing to strike back against the U.S. if President Donald Trump follows through on his threat to kill off the Nord Stream 2 gas pipeline with additional sanctions.” – by Patrick Donahue and Brian Parkin

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Germany’s Angela Merkel unveils stimulus package to kickstart economy (Deutsche Weld)

June 4, 2020 | File Under: , , ,

“Chancellor Angela Merkel said Wednesday that Germany was set to plow 130 billion euros ($146 billion) into rebooting an economy severely hit by the coronavirus pandemic. The measures include temporarily cutting value-added tax form 19% to 16%, providing families with an additional €300 per child and doubling a government-supported rebate on electric car purchases.”

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Interview with Isabel Schnabel, Member of the Executive Board of the ECB, and the FT (ECB)

May 27, 2020 | File Under: , , , , , ,

“The ECJ ruled in December 2018 that the PSPP is legal. Therefore, it is clear for us that we can and have to continue our monetary policy in line with our mandate to make sure that in the medium term we are getting back to our inflation aim of below, but close to, 2 per […]

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Interview with Philip R. Lane, Member of the Executive Board of the ECB (El País)

May 19, 2020 | File Under: , , , , , , ,

“The speed at which the economy bounces back will then hinge on whether consumers are more reluctant to consume and businesses hold back on investment. From today’s perspective, it looks in any case unlikely that economic activity will return to its pre-crisis level before 2021, if not later.” – Luis Doncel

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Supervisory Board and Management Board should be completely renewed – Der Spiegel

May 5, 2020 | File Under: , , , ,

“KPMG said that certain Wirecard sales, cash holdings and customers could not be verified. And that after five months of investigation. In our opinion, this also means that Ernst & Young, as a long-time auditor, did not properly check the balance sheets. How can anyone – be it shareholders, creditors, regulators or customers – still trust this company?  […]

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German companies in the dock over dividend plans (FT)

April 8, 2020 | File Under: , , , ,

“VW, BMW, Daimler, Continental and Adidas criticised for considering payouts while relying on state funds.” – by Joe Miller, Olaf Storbeck and Guy Chazan

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Italy’s future is in German hands

April 2, 2020 | File Under: , , , , , , , , ,

“As coronavirus cuts a swath of economic destruction across Europe, pushing the already-strained budgets of southern countries to the brink, calls are getting louder for the eurozone to intervene by issuing debt backed by all members.” – by Silvia Borrelli and Matthew Karnitschnig

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Investing in Europe in 2020 – The Year Ahead

An overview of some European key themes and political risks for 2020

2020 brings with it the 10th year of recovery since the global financial crisis. Equity markets continue to break records, ample credit is available, yet the bullish performance appears cosmetic at times and investing in Europe in 2020 is fraught with political risks.  The US deficit doubled from $385bn to $779bn last year, the UK […]

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U.S. Concedes Defeat on Gas Pipeline It Sees as Russian Threat (Bloomberg)

December 18, 2019 | File Under: , , , , , ,

“The U.S. conceded it won’t be able to stop completion of the controversial Nord Stream 2 natural gas pipeline from Russia to Germany, acknowledging the failure of a years-long effort to head of a perceived threat to European security.” – by Jennifer Jacobs,  Nick Wadhams and Lars Paulsson

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