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"India is not keen to discuss or back any additional sanctions on Russia during the G20," said one of the officials. "The existing sanctions on Russia have had a negative impact on the world." Japan's finance minister said on Tuesday that financial leaders of the Group of Seven (G7) nations will meet on the sidelines of the G20 meeting to discuss measures against Russia. "Russia themselves want to discuss the economic impact of sanctions." However, neither the Russian finance minister nor the central bank chief were expected to attend the meeting and they will be represented by their deputies.

Finance ministers and central bank chiefs from G20 nations will join the meeting on Friday. The meeting in the Nandi Hills summer retreat is the first major event of India's G20 presidency and the war in Ukraine is likely to feature prominently during the proceedings. The G20 finance ministers and central bank chiefs are also expected to discuss unblocking debt restructuring for distressed economies that have been badly hit by the COVID-19 pandemic and the war in Ukraine. U.S. Treasury Secretary Janet Yellen and German Finance Minister Christian Lindner will be attending the meetings and are expected to press China to "quickly deliver" on debt relief for low and middle income countries. However, neither the Russian finance minister nor the central bank chief were expected to attend the meeting and they will be represented by their deputies.

BERLIN, Feb 21 (Reuters) - Germany must end its expansionary fiscal policy or risk fuelling inflation, German Finance Minister Christian Lindner told Reuters in an interview. "Rising interest rates are already a signal for the government to see that it can't continue like this," Lindner said. Lindner said Germany was monitoring inflation developments closely and had already introduced a raft of measures to curb inflation. Lindner said that IMF warnings had to be taken seriously. "I am sure that the European Central Bank is also following the situation closely," he said.

☆ German exports to China decline in January despite lifting of lockdown
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

Exports to China fell by 7.1% in January compared with the same month last year, to 7.4 billion euros ($7.90 billion). By comparison, exports to the United States grew by 20.8% to 12 billion euros, with the world's largest economy retaining its place as the most important customer for goods made in Germany. While goods worth around 298 billion euros were traded between the two countries last year, exports of German goods to China increased by only 3.1%, to around 107 billion euros. Germany, on the other hand, imported goods worth 191 billion euros from China, a third more than in 2021. Overall, Germany had a trade deficit with China of around 84 billion euros in 2022, a situation that German Finance Minister Christian Lindner called a "dangerous development".

BERLIN, Feb 20 (Reuters) - German Finance Minister Christian Lindner considers the budget demands made by his government coalition partners to be excessive and "simply unrealistic", he told Reuters in a TV interview on Monday. Lindner said the requested additional spending amounted to about 70 billion euros ($70.78 billion) compared with earlier plans. According to the finance minister, the demands head into the range of 100 billion euros more per year for the years 2025 and onward. The new Defence Minister Boris Pistorius wants 10 additional billion euros for the defence budget next year, according to people with knowledge of the matter. "However, what is clear is that 10 billion euros more in 2024 than now is an unrealistic figure," he said.

☆ Developing countries' debt troubles in focus at G20 talks, says Germany's Lindner
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

China is by far the largest creditor for many highly indebted countries in Africa and Asia, and has been repeatedly pressed to make concessions. G20 finance ministers and central bank chiefs will meet from Feb. 22 to Feb. 25 to discuss growing debt troubles among developing countries triggered by the pandemic and the war in Ukraine. Highly indebted developing countries must retain access to international financial markets so that they can continue to import energy and food, Lindner said. India has drafted a proposal for G20 countries to help debtor nations by asking big lenders including China to take a large haircut on loans. Just days before the first anniversary of Russia's full-scale invasion of Ukraine, Lindner praised the unity among Western nations in supporting Ukraine, both financially and militarily.

☆ Germany rules out spending 'more and more money' as Europe hopes to avoid subsidy race with the U.S.
▼ + stars: | 2023-02-14 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

European Union officials have been embroiled in tense discussions over how to make the region more competitive in the wake of the U.S. Inflation Reduction Act, also referred to as IRA. The American legislation was approved by U.S. lawmakers in August and includes $369 billion in spending on climate and energy policies. But, according to Christian Lindner, the German finance minister, the answer for the 27-member EU bloc to boost competitiveness is not via more public spending. "We need a better quality of public sector investments, not more quantity of public sector investments," he said. "Belgium is a small market, very open economy, Germany is a big market.

☆ Eleven EU countries urge 'great caution' in loosening state aid rules
▼ + stars: | 2023-02-14 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +3 min

BRUSSELS, Feb 14 (Reuters) - Eleven European Union countries urged "great caution" in relaxing the bloc's state aid rules in a bid to support Europe's green industry in a global race, saying that risked damaging competition inside the bloc, a document showed. The Commission proposed easing EU restrictions on state aid for investments in renewable energy or decarbonising industry, partly in response to the U.S. Inflation Reduction Act. "EU state aid rules should be designed taking into account the value added at the level of EU as a whole. EU state aid rules should protect the level playing field on the EU internal market," it said. The European Commission initially also proposed creating a special fund meant to help poorer EU countries dole out more state aid.

"I would like to call on all creditors to join the efforts as swiftly as possible," Christian Lindner said in a news conference with his Ghanaian counterpart Ken Ofori-Atta. In January, Reuters reported exclusively that Ghana had requested a bilateral debt restructuring under the Common Framework, a platform set up by the Group of 20 major economies during the COVID-19 pandemic to bring China and other newer creditor nations into existing debt relief processes. Western leaders have repeatedly criticised China for delaying developing country debt restructurings, which it disputes. "Germany is being true partners" in helping Ghana through the debt restructuring process in "an accelerated way," Ofori-Atta told reporters. "Ghana needs to return as fast as possible to the international financial markets.

☆ Biden's IRA has left Europe blind-sided. And playing catchup could lead to 2 big mistakes
▼ + stars: | 2023-02-02 | by ( Silvia Amaro | ) www.cnbc.com time to read: +5 min

"U.S. legislation doesn't pass overnight," Emre Peker, director at the consultancy group Eurasia, told CNBC, adding that the EU could have acted faster. Luisa Santos, deputy director at BusinessEurope, a group of business federations, told CNBC that "it is still a bit early to say who will invest where." watch nowBelgian Prime Minister Alexander de Croo told CNBC that more state aid "is not a good answer." Several other experts have also raised concerns about easing state aid rules. Slow to respondIn addition to challenges with state aid relaxation, timing is also a risk.

☆ German finance minister warns against quick decoupling from China
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 22 (Reuters) - Germany must reduce its dependence on China gradually as decoupling from the Chinese market would costs jobs in Europe's biggest economy, Finance Minister Christian Lindner was quoted as saying on Sunday. "Decoupling our economy from the Chinese market would not be in the interest of jobs in Germany," Lindner was quoted as saying by the Welt am Sonntag newspaper. He said that gradually other world regions and markets would have to become more important for German business over the coming years and decades, Welt reported. "The political conditions must be improved for this," Lindner said. Reporting by Riham Alkousaa, editing by Emma-Victoria FarrOur Standards: The Thomson Reuters Trust Principles.

☆ The threat of a transatlantic trade war is dominating Davos
▼ + stars: | 2023-01-18 | by ( Silvia Amaro | ) www.cnbc.com time to read: +6 min

Trade tensions between the EU and the US are dominating the talk in Davos. Transatlantic trade tensions are dominating conversations at the World Economic Forum this week. On the one hand, European officials are saying they will come up with more financial support for European firms. On the other hand, the business community is excited about green subsidies stateside and argue the EU needs to match what the U.S. administration is doing. At the same time we have to support our competitiveness," European Commissioner for Economics, Paolo Gentiloni, told CNBC in Davos.

☆ Exclusive: Germany forecast to narrowly escape recession in 2023 - source
▼ + stars: | 2023-01-18 | by ( Holger Hansen | ) www.reuters.com time to read: +1 min

BERLIN, Jan 18 (Reuters) - Germany is expected to narrowly avoid recession this year with price-adjusted growth of 0.2%, a source said on Wednesday, citing estimates from a draft of the government's annual economic report. This is to be followed by 1.8% growth in gross domestic product next year, according to the draft report, the source said. In autumn, the government had forecast a 0.4% decline in GDP for 2023. According to the source, the government is also set to revise down its inflation forecast for 2023 to 6.0%, with inflation expected to ease further in 2024 to 2.8%. On Tuesday, German Finance Minister Christian Lindner said inflation this year was expected to be lower than the government's autumn forecast of 7.0% due in part to a fall in energy prices.

☆ German finance minister says country will likely face a 'very mild' recession this year
▼ + stars: | 2023-01-17 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

German Finance Minister Christian Lindner said Tuesday that he believed the country would experience a mild recession in 2023, but that he felt positive about his country's economic outlook. "There is an opportunity to see faster economic recovery and faster decline in inflation rates than expected," Lindner said. Earlier this month, the country's inflation reading for December came back lower than expected as it declined to 9.6%. Lindner said he expected a "very mild" recession, but also believed the Germany economy was resilient. He said the German government was now focused on "strengthening the competitiveness" of its economy.

☆ Germany will likely face 'very mild' recession, finance minister says
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGermany will likely face a 'very mild' recession this year, finance minister Christian Lindner saysGerman Finance Minister Christian Lindner said there was still a lot of uncertainty, but he has become more optimistic about the economic outlook in recent months.

☆ Germany joins battle against EU ban on financial product commission
▼ + stars: | 2023-01-16 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

EU financial services chief Mairead McGuinness set out last month a detailed case in favour of banning "inducements", or commission paid by a bank or insurer to financial advisers who have sold their products. McGuinness could propose a ban in her upcoming "retail investment strategy" to deepen the bloc's capital market by attracting more retail investors. EU states and the European Parliament would have the final say on any ban. "Banning inducements in general would mean a serious setback to efforts to increase retail investment in the capital markets," he added. Insurance Europe, an insurance industry body, said an outright EU-wide ban would undermine the goals of the retail investment strategy.

☆ Germany's finance minister sees 2023 inflation at 7%
▼ + stars: | 2023-01-01 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 1 (Reuters) - Germany's finance minister expects inflation in Europe's biggest economy to drop to 7% this year and to continue falling in 2024 and beyond, but believes high energy prices will become the new normal. Pushed by spiking energy prices following Russia's invasion of Ukraine and falling Russian energy exports, Germany's year-on-year inflation has slowed slightly in November to 11.3% from a high of 11.6% the month prior. read moreLindner said Germany needs an "unbiased" energy policy in order to keep industry ticking, adding that domestic gas and oil fracking and nuclear energy should be considered in the energy sources mix along with renewables. Production of natural gas and oil has been declining in Germany, mainly because unconventional fracking is banned and nature protection laws make it difficult to seek permission for new drilling. Reporting by Riham Alkousaa; Editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.

☆ German finance minister eyes new growth package -FAZ
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Dec 27 (Reuters) - German Finance Minister Christian Lindner has tasked his officials with preparing a growth package including lowering income and corporation tax, the Frankfurter Allgemeine Zeitung (FAZ) daily reported on Tuesday, citing an internal document. The document sets out what it describes as a "turning point in economic and financial policy" for Europe's biggest economy for the next two years, reported the newspaper. Arguing that Germany had fallen behind and that high energy prices, caused in part by Russia's invasion of Ukraine, had put German companies under pressure, the document said state money was not a solution in the long run. "We cannot counter this challenge in the long run with more state money and industrial policy subsidies," the FAZ quoted the document as saying. In concrete terms, reported the FAZ, the document set out the case for a general reduction in income and corporation tax and also contained proposals for the labour market and social security.

☆ German court dismisses challenge to 750 bln euro EU recovery fund
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Dec 6 (Reuters) - Germany's constitutional court on Tuesday threw out a legal challenge to the European Union's 750-billion-euro ($786 billion) recovery fund, which saw the EU take on joint debt to help member states overcome the COVID-19 crisis. German Finance Minister Christian Lindner welcomed the ruling but said some aspects of the decision would have to be closely analysed by the government. The funds are to be repaid from the EU budget over the coming decades, with Germany shouldering by far the biggest share of any member state. The court ruled that the ratification act had not violated their right to democratic self-determination nor did it "impair the overall budgetary responsibility of the Bundestag". Lucke expressed disappointment at the ruling but said it was positive that the court had emphasized the EU has no general authority to take on common debt.

☆ Germany is opposed to raising new money to support European competitiveness
▼ + stars: | 2022-12-06 | by ( Silvia Amaro | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGermany is opposed to raising new money to support European competitivenessGerman Finance Minister Christian Lindner told CNBC the U.S. Inflation Reduction Act is an "invitation" for the region to reconsider its competitiveness.

☆ Germany says borrowing more money to compete with the U.S. would be a 'threat' to Europe
▼ + stars: | 2022-12-06 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

BRUSSELS — Germany said Europe should refrain from borrowing more money to compete with U.S. green subsidies or its competitiveness will be threatened. European Commission President Ursula von der Leyen said Sunday "new and additional funding at the EU level" will be needed to make European companies more competitive in the transition to a greener economy. "There are some parts of Ursula von der Leyen initiative which [need] to be further debated, especially her proposal of [a] European sovereignty fund. However, they indicate where the commission believes the bloc should go to be in a better position to compete with the United States. "We have all heard the stories of producers that are considering to relocate future investment from Europe to the U.S.," von der Leyen said Sunday.

☆ Texas man charged with threatening Boston doctor who provides transgender care
▼ + stars: | 2022-12-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Phil-Helsel-Circle-Byline-Template.Jpg | Phil Helsel | ) www.nbcnews.com time to read: +2 min

A Texas man was arrested Friday and charged with threatening to kill a Boston doctor who provides care to transgender people, federal prosecutors said. The threats on Aug. 31 targeting a doctor affiliated with a Boston healthcare education center came after “inaccurate information spread online” about Boston Children’s Hospital and transgender care, the U.S. Attorney’s Office for the District of Massachusetts said. Boston’s Children Hospital is home to the Gender Multispecialty Service, which provides care to transgender and gender-diverse adolescents. Several children’s hospitals, most notably Boston Children’s, were targeted by of a far-right harassment campaign, led by led by anti-trans influencers with millions of collective followers. The FBI in court documents called it a sustained campaign that falsely alleged pedophilia or "grooming" against Boston Children's Hospital, and there have been death threats and threats of mass casualty attacks.

☆ Thousands of Australians strip for Tunick cancer awareness photo shoot
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Nov 26 (Reuters) - Some 2,500 people took off their clothes on Saturday to pose for U.S. photographic artist Spencer Tunick at Sydney's Bondi Beach in an effort to raise awareness about skin cancer. The New York-based artist collaborated with a charity on the naked art installation in a bid to raise awareness about melanoma, Australia's fourth most common form of cancer. The federal government estimates that this year 17,756 new cases of skin cancer will be diagnosed in Australia, and 1,281 Australians will die from the disease. A participant, Robyn Lindner, said she overcame nerves to strip for the shoot, which organisers said involved 2,500 people. Tunick last directed a mass shoot in Sydney in 2010, when 5,200 Australians posed naked at the Sydney Opera House.

☆ Europe shows a united front against Biden's Inflation Reduction Act, says it threatens industry
▼ + stars: | 2022-11-09 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The sweeping U.S. legislation, which was approved by U.S. lawmakers in August and includes a record $369 billion in spending on climate and energy policies, was discussed by the 27 EU finance ministers on Tuesday. The same official added that "there is a political consensus (among the 27 ministers) that this plan threatens the European industry." The EU has listed at least nine points in the U.S. Inflation Reduction Act that could be in breach of international trade rules. We don't want to see any kind of decision that could harm this level playing field. "The level playing field is at the core of the trade relationship between the two continents and we don't want to see any kind of decision that could harm this level playing field," he said.

☆ EU backs watering down of final Basel bank capital rules
▼ + stars: | 2022-11-08 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

LONDON, Nov 8 (Reuters) - European Union member states have backed a temporary watering down and two-year delay to 2025 for the final leg of the globally agreed Basel III bank capital rules, the Czech EU presidency said on Tuesday. EU states will now negotiate a final deal with the European Parliament in early 2023. Most of the Basel III rules, a set of tougher capital rules for banks after the global financial crisis more than a decade ago, have already been implemented. EU ministers backed a two-year delay to the start date for rolling out the final rules, pushing it back to January, 2025. Smaller banks would benefit from simpler disclosure, and EU states pushed back against attempts at stricter EU harmonisation in checking whether top bank staff are 'fit and proper'.

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