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☆ Germany welcomes China's support for G20 debt restructuring framework
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +2 min

German Finance Minister Christian Lindner speaks during a session of the lower house of parliament, Bundestag, at the Reichstag building, in Berlin, Germany September 27, 2023. REUTERS/Liesa Johannssen/File Photo Acquire Licensing RightsBERLIN, Oct 1 (Reuters) - Germany has welcomed a show of support from China for the G20 debt restructuring framework for poorer countries in a joint statement after their financial dialogue in Frankfurt over the weekend. Neither provided further details on the rules for the restructuring plans and the joint statement did not give specifics. "This creates opportunities on both sides for more responsible trade and investment," German Finance Minister Christian Lindner said on Sunday. The meeting took place in Frankfurt, as Germany want to further strengthen this city as an European hub for financial services, the finance minister said.

Persons: Christian Lindner, Liesa, Sunday's, Lindner, ” Lindner, Maria Martinez, Alison Williams Organizations: Bundestag, REUTERS, Rights, Reuters, Thomson Locations: Berlin, Germany, China, Frankfurt, Africa, Asia, Beijing, European

☆ No decision on European Investment Bank presidency expected this week, German finance minister says
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

German Finance Minister Christian Lindner speaks during a plenum session of the lower house of parliament, Bundestag, to present the 2024 budget and financial planning of the Federal Government, in Berlin, Germany September 5, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsSANTIAGO DE COMPOSTELA, Sept 15 (Reuters) - German Finance Minister Christian Lindner said at the informal EU finance ministers meeting on Friday that a decision is not expected this week on who will become European Investment Bank (EIB) president. "There are several well-qualified candidates, for example our host today, Nadia Calvino," Lindner said before the meeting of euro zone finance ministers. Lindner said the German government hasn't made a decision yet on which candidate to back, "but we have a clear picture of how the EIB should develop." Lindner said the bank should keep its AAA rating: "Sound banking is essential for us."

Persons: Christian Lindner, Annegret, Nadia Calvino, " Lindner, Lindner, hasn't, Maria Martinez, Miranda Murray Organizations: Bundestag, Federal Government, REUTERS, SANTIAGO DE, German Finance, European Investment Bank, AAA, Thomson Locations: Berlin, Germany, SANTIAGO, SANTIAGO DE COMPOSTELA

The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Also interested are the politically non-affiliated Italian central banker Daniele Franco, Poland's right-wing former Finance Minister and current EIB Vice President Teresa Czerwinska, and Sweden's socialist former Energy Minister and also current EIB Vice President Thomas Ostros. "We can say we are really spoilt for choice because all the candidates are excellent," German Finance Minister Christian Lindner told reporters on Thursday. The EIB is the lending arm of the EU and is active in 160 countries offering loans, guarantees, equity investments and advisory services. Germany's Deputy Central Bank Governor Claudia Buch and her Spanish counterpart Margarita Delgado are both in the running.

Persons: Eric Vidal, Vincent van Peteghem, Germany's Werner Hoyer, Margrethe Vestager, Nadia Calvino, Daniele Franco, Poland's, Teresa Czerwinska, Thomas Ostros, Christian Lindner, Central Bank Governor Claudia Buch, Margarita Delgado, Buch, Vestager, Emmanuel Macron, Richard Chang Organizations: European Investment Bank, Reuters, Rights, Belgian, Union, European Commission, Finance, Energy, European Central Bank, Germany's, Central Bank Governor, SSM, Thomson Locations: Luxembourg, Rights BRUSSELS, Italian, Spanish, EU, Paris, Spain

☆ Germans question value of working after new welfare increases - survey
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Michael Dalder/File photo Acquire Licensing RightsBERLIN, Sept 5 (Reuters) - More than half of Germans believe work is not worthwhile after the government's planned increase in welfare payments and child benefits, a survey showed on Tuesday. Welfare payments, dubbed "citizens' money", for more than 5.5 million jobless in Germany will rise to 563 euros ($605.06)from 502 euros per month for single people from next year. They will receive up to 636 euros per month for their first child and another 530 euros for every other child. Germans are divided whether the increase in welfare payments is justified with 45% in favour and 44% against it, the survey of 1005 respondents showed. Finance Minister Christian Lindner said last week in a presentation on the basic child allowance that benefits should not discourage people from working.

Persons: Michael Dalder, it's, pollster INSA, Christian Lindner, Lindner, Riham Alkousaa, Maria Martinez, Alexandra Hudson Organizations: REUTERS, Rights, Bild, Finance, Alexandra Hudson Our, Thomson Locations: Munich, Germany

REUTERS/Lisi Niesner Acquire Licensing RightsMESEBERG, Germany, Aug 29 (Reuters) - Germany's coalition on Tuesday set aside weeks of squabbling to agree to a total of 32 billion euros ($34.63 billion) in corporate tax cuts over four years to boost the flagging economy. "The German economy can do more." The German economy stagnated in the second quarter, showing no sign of recovery from a winter recession and cementing its position as one of the world's weakest major economies. An agreement was reached on Tuesday when the two sides agreed to cut the planned Child Basic Insurance to just over two billion euros. A government document seen by Reuters showed subsidies are set to almost double to 67.1 billion euros next year compared to 2021.

Persons: Olaf Scholz, Lisi Niesner, Finance Minister Christian Lindner, Lisa Paus, Lindner, Forsa, Scholz, Matthias Williams, Christian Kraemer, Thomas Escritt, Tomasz Janowski, Ed Osmond, Barbara Lewis Organizations: Schloss, REUTERS, Reuters, Finance Minister, Greens Family, Insurance, stoke, Thomson Locations: Schloss Meseberg, Gransee, Germany, Berlin

The Ifo institute said on Friday that its business climate index stood at 85.7, down from 87.4 in July. Reuters Graphics"The German economy is not out of the woods yet," Ifo president Clemens Fuest said. The economy then posted zero growth in the second quarter compared to the previous three months, separate data from the statistics office showed on Friday. The Ifo survey showed sentiment among German managers had become more pessimistic across all sectors in August. The Ifo survey chimed with flash PMI data released on Wednesday, which showed that German business activity contracted at the fastest pace for more than three years in August.

Persons: Annegret, Clemens Fuest, Christian Lindner, Klaus Wohlrabe, Claus Niegsch, Niegsch, Andrew Kenningham, Carsten Brzeski, Maria Martinez, Friederike Heine, Mark Potter, John Stonestreet Organizations: REUTERS, Reuters, . Finance, DZ Bank, Reuters Graphics, Capital Economics, Thomson Locations: Berlin, Germany, BERLIN, Europe

☆ Factbox: European countries imposing windfall taxes on banks
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +4 min

But he and Finance Minister Bruno Le Maire have ruled out the possibility of a windfall tax. HUNGARYHungary's government has tweaked windfall taxes imposed on key sectors of the economy in a decree published in June, saying banks can reduce their 2024 windfall tax payments by up to 50% if they increase their Hungarian government bond purchases. ITALYItaly approved on Aug. 8 a one-off 40% tax on profits banks reap from higher interest rates and it plans to use the proceeds to help mortgage holders. LITHUANIALithuania's parliament approved in May a windfall tax on the banking industry's net interest income for 2023 and 2024 following a sharp rise in European Central Bank interest rates. It is expected to raise 6 billion Swedish crowns a year.

Persons: Ralph Orlowski, Emmanuel Macron, Bruno Le Maire, Christian Lindner, Alessandro Parodi, Matteo Allievi, Olivier Sorgho, Silvia Aloisi, Tom Sims, Holger Hansen, Marta Frąckowiak, Alexander Smith Organizations: Germany's Deutsche Bank, REUTERS, Finance, HUNGARY Hungary's, European Central Bank, Swedish Government, Thomson Locations: Frankfurt, Germany, Italy, CZECH REPUBLIC, Czech, France, GERMANY, HUNGARY, ITALY Italy, LITHUANIA, SPAIN Spain, SWEDEN, Britain

☆ EU has to come clean on costs of green transition
▼ + stars: | 2023-07-18 | by ( Pierre Briancon | ) www.reuters.com time to read: +8 min

European Union governments have agreed on the strategy, but they tend to paper over the short-term economic costs of the green transition. French economist Jean Pisani-Ferry has compared the impact of the green transition to an economic shock equivalent to the sharp spikes in oil prices in the 1970s. But unlike previous shocks triggered by geopolitical instability or trade wars, the green transition has been initiated and managed by governments, and largely financed by them. Germany looks like the country most able to afford the green transition, but its over-emphasis on regulation on environmental matters is running into fierce opposition. On Sunday Paolo Gentiloni, the EU economy commissioner, told the Financial Times that Europe will have to fund its own industrial green transition.

Persons: Jean Pisani, won’t, Pisani, Selma Mahfouz, Paolo Gentiloni, Bruno Le Maire, Christian Lindner, Keir Starmer, –, Francesco Guerrera, Oliver Taslic Organizations: Reuters, Union, Reuters Graphics Reuters, International Energy Agency, Ferry, Social Democrats, Greens, Opposition, Financial Times, French Finance, German, Labour Party, Twitter, Southern, European Commission, Deal, Zero, Thomson Locations: Europe, France, Italy, Germany, EU, Paris, Southern Europe, Spain, Greece

☆ German coalition at odds over fighter jet sale to Saudi Arabia, Welt am Sonntag reports
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: +1 min

BERLIN, July 1(Reuters) - Germany's coalition government is at odds over whether to bow to British pressure and approve the production of Eurofighter Typhoon fighter jets for Saudi Arabia, the newspaper Welt Am Sonntag reported on Saturday, citing anonymous sources. A third of the components for the jets come from Germany, industry sources told Reuters at the time. Since the rapprochement of Saudi Arabia and Iran, which could end their proxy war in Yemen, the British have argued that Germany cannot block the export of Eurofighter jets to third parties. A spokesperson for the Chancellery declined to comment to Welt am Sonntag. Reporting by Sabine Siebold; Writing by Victoria Waldersee; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Chancellor Olaf Scholz, Christian Lindner, Jamal Khashoggi, Angela Merkel, Sabine Siebold, Victoria Waldersee, Jonathan Oatis Organizations: Eurofighter Typhoon, BAE Systems, Reuters, Social Democrats, Finance, Greens, SPD, Eurofighter, Welt, Thomson Locations: BERLIN, Saudi Arabia, Riyadh, Yemen, Saudi, Germany, United States, France, Britain, Iran

☆ Intel near deal on 9.9 bln euro German government subsidy, Handelsblatt says
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

June 15 (Reuters) - Intel (INTC.O) and the German government are close to an agreement for the chipmaker to receive 9.9 billion euros ($10.83 billion) in subsidies, up from a previously agreed 6.8 billion, Handelsblatt reported on Thursday, citing government sources. Final negotiations will take place this weekend, the newspaper reported, with Intel Chief Executive Pat Geisinger and government representatives to sign an agreement in Berlin on Monday. Intel and the economy ministry were not immediately available for comment outside working hours. The additional funds are to come from a budget under the responsibility of the economy minister, who campaigned heavily for the extra subsidies in the face of resistance from Finance Minister Christian Lindner, according to Handelsblatt. Intel, which announced last year it had picked the central German city of Magdeburg for a new chip-making complex, had raised its demand for subsidies to around 10 billion euros citing higher energy and construction costs.

Persons: Handelsblatt, Pat Geisinger, Christian Lindner, Victoria Waldersee, Barbara Lewis Organizations: Intel, Finance, Thomson Locations: Berlin, German, Magdeburg

REUTERS/Fabrizio BenschSummarySummary Companies Germany unveils first ever National Security StrategyDocument reflects growing focus on security over economyContains strong criticism of China but does not mention TaiwanImplementation could be hampered by lack of Security CouncilBERLIN, June 14 (Reuters) - China poses a growing threat to global security, Germany said in its first national security strategy on Wednesday, underscoring Berlin's shift in emphasis from economic interests to geopolitics following Russia's invasion of Ukraine. It also omits some major issues, such as Taiwan, and as expected, does not create a National Security Council that would help its implementation. "We paid for every cubic metre of Russian gas twofold and threefold with our national security." Russia is the top threat to European peace "for now", the National Security Strategy (NSS) said. "The good thing is that German companies are drawing similar conclusions to the German federal government," she said.

Persons: Olaf Scholz, Fabrizio Bensch, cyberattacks, Chancellor Olaf Scholz, Annalena Baerbock, Ola Kaellenius, Baerbock, Noah Barkin, Norbert Roettgen, Scholz, Christian Lindner, Andreas Rinke, Miranda Murray, Rachel More, Madeline Chambers, Christoph Steitz, Angus MacSwan, Mark Potter, Alexandra Hudson Organizations: REUTERS, Germany, Security, BERLIN, Security Council, National Security, NSS, Volkswagen, BASF, BMW, Benz, NATO, Alexandra Hudson Our, Thomson Locations: Berlin, Germany, China, Taiwan, Ukraine, Beijing, Asia, Russia, Moscow, Europe, Moldova, Georgia

☆ Germany refusing Intel's additional demand for subsidies for chip plant, Financial Times reports
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +1 min

June 11 (Reuters) - Germany's Finance Minister Christian Lindner is refusing Intel's (INTC.O) demands for higher subsidies for a 17-billion-euro ($18-billion) chip plant, saying the country could not afford it, the Financial Times reported on Sunday. "There is no more money available in the budget," the newspaper quoted Lindner as saying in an interview. The company was due to receive 6.8 billion euros in government support for its fabrication plant in Germany. However, due to higher energy and construction costs, it is now demanding about 10 billion euros, the newspaper reported. ($1 = 0.9305 euros)Reporting by Anirudh Saligrama in Bengaluru; Editing by Michael Perry and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Christian Lindner, Lindner, Taiwan's TSMC, Anirudh, Michael Perry, William Mallard Organizations: Germany's Finance, Financial Times, Intel, Thomson Locations: Germany, German, Magdeburg, Europe, Ireland, Italy, France, U.S, Bengaluru

London generated $2 billion in venture capital funding in the first quarter of 2023, compared to Berlin's $800 million, a DEEP Ecosystems analysis of Dealroom data showed. Reuters Graphics Reuters GraphicsTOUGHER TIMESIn 2022, 501 startups were founded in Berlin, a fifth of Germany's total. About a fifth of openings at startups were vacant and more than half were struggling to fill posts, German Startups Association said. In Germany, it has been accompanied by the sharpest contraction in venture capital funding in Europe in the past 12 months, down 42%. The funding crunch is hitting Germany's push to encourage the growth of new renewables businesses, given manufacturing startups are particularly capital intensive.

Persons: Avitosh Sawhney, Christian, headwinds, Katharina Beck, Lindner, Maximilian Tayenthal, Christoph Stresing, Tobias Lechtenfeld, Chancellor Olaf Scholz's, Maria Martinez, Riham Alkousaa, Matthias Williams, Mark John, Edmund Blair Organizations: Wall, Greens, Reuters, Startup Heatmap, Reuters Graphics Reuters, Manpower, Association, European Central Bank, Tech, Zero Alliance, Free Democratic Party, Thomson Locations: Berlin, London, BERLIN, Paris, Germany, Europe

☆ Debt conundrum gives Italy weak hand in EU talks
▼ + stars: | 2023-05-18 | by ( Lisa Jucca | ) www.reuters.com time to read: +6 min

After inflation hit 40-year highs in the West last year, global rate-setters, including the European Central Bank, launched a dramatic series of interest rate hikes. Unless there is a sudden series of interest rate cuts, the cost of servicing Italy’s debt could stay well above 4% of GDP for years. To fight that, Meloni’s government will have to shrink the public deficit and bring Italy back to the healthy pre-pandemic habit of keeping a primary budgetary surplus excluding debt interest payments. As long as Italy’s debt is not spiralling out of control, markets won’t worry too much. Yet even if Meloni chooses a milder approach, Italy’s unresolved debt challenge risks giving her a weak negotiating hand in Brussels.

☆ German exports to Russia's neighbours fuel sanctions evasion fears
▼ + stars: | 2023-05-16 | by ( Rene Wagner | ) www.reuters.com time to read: +4 min

Although they remain relatively modest in value, German exports to Georgia rose by 92%, while those to Kazakhstan rose 136%, to Armenia 172% and to Tajikistan 154%. An 11th package of EU sanctions, currently being negotiated, will also focus on people and countries circumventing existing trade restrictions. "The circumvention of sanctions against Russia is unacceptable," German Finance Minister Christian Lindner said in Brussels on Tuesday. That came after a six-fold rise in German exports to Kyrgyzstan last year following Russia's February 2022 invasion of Ukraine. "But because Turkey does not participate in EU sanctions, EU goods are further exported from there to Russia."

☆ G7 agreed global financial system resilient but needs vigilance, Japan finmin says
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +3 min

[1/2] Japan's Finance Minister Shunichi Suzuki, Germany's Finance Minister Christian Lindner, Britain's Chancellor of the Exchequer Jeremy Hunt, Joachim Nagel, President of Germany's federal reserve... Read moreNIIGATA, Japan, May 13 (Reuters) - Finance ministers and central banks from the Group of Seven rich nations agreed the global financial system is resilient but the need for vigilance remains, Japan's finance minister Shunichi Suzuki said on Saturday. "We reaffirm that our financial system is resilient, supported by the financial regulatory reforms implemented after the 2008 global financial crisis, including considerable increases in the levels of bank capital and liquidity, an international framework for effectively resolving failing institutions, and strengthened cross-border regulatory and supervisory cooperation," it said. British finance minister Jeremy Hunt told reporters at a separate event that G7 finance chiefs in Japan had "very frank and open discussions" about the challenges they face, including banking regulation. The ministers have wrapped up a three-day meeting in the Japanese city of Niigata. Reporting by Tetsushi Kajimoto and Leika Kihara; Writing by David Dolan Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ AMERICAS Debt cap tick-tock leaves eerie calm
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +4 min

The issue dominated much of the G7 finance chiefs meeting in Japan. Dimon claimed any technical default could cause financial panic and JPMorgan had convened a 'war room' internally to deal with the issue. "It's very unfortunate, it's time-consuming, hopefully it won't happen, but it affects contracts, collateral, clearing houses, clients," Dimon said. Chinese stocks underperformed, with the G7 meeting mulling restrictions on investment to the world's second-biggest economy. Bank of England chief economist Huw Pill speaksReuters GraphicsJobless claimsReuters GraphicsReuters GraphicsBy Mike Dolan, editing by Christina Fincher, <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

☆ German minister calls for maturity on U.S. debt ceiling talks: 'We have to avoid further risks'
▼ + stars: | 2023-05-11 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

German Finance Minister Christian Lindner hopes American lawmakers will be "mature" over the debt ceiling negotiations to avoid further headwinds for the global economy. U.S. Congress is trying to find a compromise on the debt limit — which refers to the maximum amount of money that the two chambers allow the federal government to borrow. Democratic leaders want the limit to be raised but Republican lawmakers have called for spending cuts to be agreed before anything is approved. Time is running out for an agreement, with U.S. Treasury Secretary Janet Yellen warning earlier this month that without a deal, the largest economy in the world could default by June 1. "I cannot comment on domestic politics in other countries, but I hope everyone is mature in this situation and avoids further risks for the global economic development," he told CNBC's Martin Soong.

Persons: Christian Lindner, Janet Yellen, CNBC's Martin Soong Organizations: Congress, Democratic, U.S, Treasury Locations: Japan

☆ Stubborn Germans leave EU budget reform in a fix
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, April 27 (Reuters Breakingviews) - The European Commission’s efforts to appease fiscal hardliners have not yet opened doors for a badly needed reform of the bloc’s fiscal rules. Specifically, Germany does not like a proposal to allow the Commission new flexibility to negotiate budget targets with European Union countries. Although current debt rules have never been enforced – because required cuts would be too punitive to work – Berlin likes their semblance of objectivity. But in the absence of a new system, it will have to go through the motions for 2024, and possibly beyond. Even though that’s less stringent than the current system, France already says it’s too rigid, and Italy wants more exceptions for green investment.

☆ Analysis: No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up
▼ + stars: | 2023-04-13 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com time to read: +6 min

LONDON, April 13 (Reuters) - The latest bid by the world's leading institutions and creditors to speed up debt restructurings and get bankrupt countries back on their feet has been greeted by a mix of cautious optimism and weary scepticism by veteran crisis watchers. The somewhat loose framework around sovereign restructurings has seen Beijing seek to influence the traditional rules of engagement in these processes. The Common Framework platform introduced by leading G20 nations in 2020 aimed to bring all creditors, including China, together and streamline negotiations. Anna Ashton, director of China research at Eurasia Group, said this week’s developments underscored the benefits for China to give some ground on some of its concerns. "China is a difficult partner to talk to but we need China at the table for the solution of debt problems, because otherwise we won't see any progress," Lindner said.

☆ No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up
▼ + stars: | 2023-04-13 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com time to read: +6 min

☆ Germany warns EU over tampering with schemes for struggling banks
▼ + stars: | 2023-04-05 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

The EU's executive European Commission is due on April 18 to set out draft reforms to rules for handling stricken banks. The schemes link banks in a national network, allowing a struggling lender to get financial aid from the scheme's other members, forming part of a country's protections for bank depositors. CARVE OUTLindner said the commission's current plans would introduce a "number of new and significant restrictions" on IPS schemes by treating them like deposit guarantee schemes. A "clear and precise carve-out for IPS from newly introduced restrictions would be the easiest and cleanest way" to respect last year's agreement not to tamper with IPS, Lindner said. A report for the European Parliament last year said IPS represents a central and substantial component of depositor protections in Germany.

☆ Germany unveils immigration reform plan to tackle labour shortages
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +3 min

BERLIN, March 29 (Reuters) - Germany on Wednesday unveiled draft reforms on immigration, skills training and promoting immigration from Western Balkan countries, a bid by Chancellor Olaf Scholz's government to plug labour shortages in Europe's largest economy. "Securing our skilled labour base is one of Germany's biggest economic tasks for the coming decades," Labour Minister Hubertus Heil said. One of the reforms is a new immigration law that aims to address key hurdles for migrants to Germany, particularly for those coming from outside the European Union. The draft law, seen by Reuters, says the reform could increase the number of workers from countries outside the EU by 60,000 people a year. The opportunity card follows a points-based system that takes into account qualifications, language skills, professional experience, connection to Germany and age.

☆ German coalition government ends dispute after marathon negotiations
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +3 min

[1/2] A general view as German Chancellor Olaf Scholz holds a government statement during a plenary session of the lower house of parliament, Bundestag, in Berlin, Germany, March 16, 2023. REUTERS/Christian MangBERLIN, March 28 (Reuters) - Germany's ruling coalition government on Tuesday presented the results of 30-hour negotiations aimed at resolving a spat that has threatened to delay major policy initiatives in Europe's top economy. Scholz, whom critics have accused of not providing sufficient leadership, played down the differences among the parties by suggesting the coalition reached "some very good agreements" but did not give details. Earlier this month Finance Minister Christian Lindner of the FDP delayed his presentation of the draft budget due to coalition rifts. Notably, the FDP wants to rein in spending while the Greens want to invest more in the transition to a carbon neutral economy.

☆ Japan, Germany agree to carefully monitor markets, coordinate as needed
▼ + stars: | 2023-03-18 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

TOKYO, March 18 (Reuters) - Japan and Germany agreed on Saturday to coordinate closely on financial jitters stemming from problems among Western banks while carefully monitoring global markets and economy, a Japanese finance ministry official told Reuters. The agreement came in a 45-minute meeting between Japanese Finance Minister Shunichi Suzuki and German Finance Minister Christian Lindner, visiting Tokyo for bilateral government consultations. We will carefully watch developments and coordinate with the central bank and overseas authorities," Suzuki told Lindner, according to the Japanese official. Both sides agreed on the need to closely monitor financial developments and coordinate as needed, the official said, without elaborating further. They agreed on the need to strengthen supply chains as an element of economic security.

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