Germany aims for balanced budget to prepare for downturn
BERLIN (AP) — Germany's finance minister is proposing a balanced budget for the coming year, withstanding calls for fresh borrowing in preparation for a possible economic downturn.
Thousands protest in Germany against racism, discrimination
BERLIN (AP) — Thousands of people attended a protest against racism and discrimination in the German city of Dresden on Saturday, a week ahead of two state elections in the country's east in which...
German finance minister offers to join party leadership race
BERLIN (AP) — Germany's finance minister is offering to throw his hat in the ring to lead the center-left Social Democratic Party, a traditional powerhouse in German politics that's seen a sharp...
BERLIN (AP) — The German government is preparing for a smaller rise in tax revenue as growth in Europe's biggest economy wanes.
Finance Minister Olaf Scholz said Thursday that tax takings...
BERLIN (AP) — Chancellor Angela Merkel says the German government shouldn't get involved in exploratory talks between Deutsche Bank and Commerzbank on a possible merger.
US bristles at Germany’s reduced defense budget plans
BERLIN (AP) — The United States is bristling at the suggestion Germany might miss its own defense spending target, which is already short of the NATO goal.
Deutsche Bank, Commerzbank shares up despite merger concerns
FRANKFURT, Germany (AP) — Shares in Deutsche Bank and Commerzbank rose on Monday after the two said they were in merger talks, but that didn't stop people from questioning what a merger would...
Germany faces tighter public finances as growth slows
BERLIN (AP) — Germany's government is grappling with the prospect of tighter public finances over the coming years as economic growth slows. It is insisting it will stick to its policy of running up no new debt.
News agency dpa reported Monday that the government faces a budget shortfall of 24.7 billion euros ($28.3 billion) through 2023, compared with previous predictions. It cited a document sent by Werner Gatzer, a deputy finance minister, to other ministries.
China, Germany promise closer financial cooperation
BEIJING (AP) — China and Germany promised Friday to open their markets wider to each other's banks and insurers, giving Beijing a burst of positive trade news amid conflicts with Washington and Europe.
The two sides also affirmed support for a global trading system that other governments worry is threatened by President Donald Trump's "America first" policies. That followed an annual financial dialogue led by German Finance Minister Olaf Scholz and China's economy czar, Vice Premier Liu He.
The Latest: Brexit: UK gives consent to Spain over Gibraltar
LONDON (AP) — The Latest on Britain's exit from the European Union (all times local):
Spain's junior minister for the European Union says British authorities have consented to Spanish demands granting Madrid prior approval on matters relating to Gibraltar.
Luis Marco Aguiriano says "we have a promise, a commitment, from the British government saying they are ready to ... guarantee that they will go along with the clarification we have requested."
German finance minister advocates steep rise in minimum wage
BERLIN (AP) — Germany's finance minister is advocating a steep increase in the country's minimum wage as his struggling center-left party tries to reverse a slump in its popularity.
Germany has had a national minimum wage since 2015, when it was introduced at the insistence of the Social Democrats, Chancellor Angela Merkel's junior coalition partners.
Germany meets euro debt limit for first time in 17 years
FRANKFURT, Germany (AP) — The German government says its 2019 budget will comply with eurozone debt limits for the first time in 17 years.
The draft budget also raises defense spending — a contentious issue between Germany and U.S. President Donald Trump.
BERLIN (AP) — The German parliament has approved a debt relief package for Greece that is meant to help wean the country off its rescue loans as its eight-year bailout program comes to a close.
Lawmakers in Berlin voted 410-226 on Friday to support the package, which Greece's European creditors and the International Monetary Fund agreed on last week. There were seven abstentions.
German minister urges jobless fund, tax to bolster euro
FRANKFURT, Germany (AP) — Germany's finance minister is urging bolder steps to strengthen the 19-country euro currency union by setting up a fund to help member states suddenly hit with high unemployment, and by laying the foundations for a European Union-wide tax system.
France, Germany and UK seek exemption from US Iran sanctions
LONDON (AP) — Britain, France and Germany have joined forces to urge the United States to exempt European companies from any sanctions the U.S. will slap on Iran after pulling out of an international nuclear agreement.
In a letter made public Wednesday, ministers from the three European countries told U.S. officials they "strongly regret" President Donald Trump's decision to withdraw from the 2015 Iran deal to which their nations also were signatories.
BERLIN (AP) — The German government says solid economic growth and low unemployment are expected to boost its tax take over the next few years.
A twice-yearly assessment released by the finance ministry Wednesday forecast tax income of 772.1 billion euros ($917.7 billion) this year, 7.8 billion euros more than predicted in November.
Over a five-year period, tax income is expected to be 63.3 billion euros higher.
BERLIN (AP) — The German Cabinet has approved a budget for 2018 and a longer-term outlook through 2022 that foresees no new debt.
Germany has had a budget surplus since 2014 and Finance Minister Olaf Scholz said Wednesday that higher revenues mean the government can keep its promises to increase spending on many social programs.
Scholz says that in good economic times "responsible" financial policies can "reduce debt and increase investment."
The Latest: France’s Macron happy with Merkel back in charge
BERLIN (AP) — The Latest on Germany's politics (all times local):
French President Emmanuel Macron has praised the decision by Germany's center-left Social Democratic Party to join a coalition government with long-time German Chancellor Angela Merkel's conservative bloc.
His office said Sunday that Macron "welcomed the outcome of the SPD vote."