Angela Merkel

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German President Quits in Corruption Scandal

Christian Wulff's exit a blow to Angela Merkel

(Newser) - Germany's president has stepped down after being hit with multiple corruption allegations. Though Christian Wulff's position is mostly ceremonial, his exit is nevertheless politically damaging to Chancellor Angela Merkel, Bloomberg notes. The chancellor had chosen Wulff to replace the previous president, who also resigned—just shy of two...

Brits Refuse to Back New Europe Pact

But 23 nations agree to austerity measures in new accord

(Newser) - After strenuous negotiations, 23 of the 27 nations of Europe agreed to government spending and borrowing caps to be outlined in a new pact—but a unified treaty was blocked by Britain. Negotiations broke down largely over London's demands for future protection from financial regulations forged by France and...

As Summit Looms, ECB Slashes Rate Again

Meanwhile, Merkel and Sarkozy try to drum up support for plan

(Newser) - The European Central Bank slashed rates for the second time in as many months today, ahead of a crucial EU summit that could determine the fate of the euro. Analysts had expected the cut, which brings the key rate from 1.25% down to 1%, but sources tell Bloomberg that...

Sarkozy, Merkel Announce Plan to Save Euro

Meanwhile, Italy announces austerity measures

(Newser) - Nicolas Sarkozy and Angela Merkel sat down for a working lunch in Paris today, and emerged with a joint statement calling for big changes to the euro zone’s governing treaties aimed at preventing future crises. Their vision includes a new European monetary fund, zone-wide deficit limits, and automatic penalties...

Clutching at Straws
Clutching
at Straws
OPINION
Dec 5, 2011 3:55 AM CST

Clutching at Straws

Euro leaders must embrace real fiscal union before it's too late

(Newser) - With the survival of the eurozone at stake, European leaders are aiming to complete a plan this week that will transform the region and save the euro, reports the New York Times . Despite major differences that remain between Angela Merkel and Nicolas Sarkozy, a four-point deal is taking shape, including...

France, Germany Discussing Pared Down Euro Zone

Controversial plan means some countries would be out

(Newser) - German and French officials have had “intense consultation” at “all levels” in recent months about the possibility of slimming down the euro zone to its strongest members, and then more closely integrating the fiscal policies of those countries, sources tell Reuters . “You’ll still call it the...

Barack Obama, Vladimir Putin, Hu Jintao Are Forbes' Most Powerful
 5 Most Powerful 
 People in World 
forbes list
Nov 5, 2011 10:04 AM CDT

5 Most Powerful People in World

... Mark Zuckerberg cracks the top 10

(Newser) - When it comes to the world’s 5 most powerful people, Forbes doesn’t offer many surprises. Barack Obama heads the pack, with other world leaders in the next three spots. The full list of 70 powerhouses, however, does offer some food for thought: Mark Zuckerberg (9), for example, is...

Chance of Greek PM Losing Confidence Vote: High

Meanwhile, the G20 wrestles with Greece mess

(Newser) - Things aren’t looking good for George Papandreou ahead of tomorrow’s confidence vote: The Greek prime minister has lost several key supporters over his shocking plan to put the EU bailout to a vote on Dec. 4—and now has a majority of just one, Reuters reports. Greece's...

Acrimony, Frail Plan as Euro Talks Adjourn

Analysts unimpressed by plan to bolster banks

(Newser) - With the Greek economy in shambles and Italy's teetering, European leaders emerged today from talks on saving the Euro—with little to show for it, the New York Times reports. Their big announcement—a mandate for banks to bolster their reserves—inspired a sigh from analysts, who say the...

Belgium Bails Out Failing Dexia
 Belgium Bails Out Failing Dexia 
Oct 10, 2011 9:01 AM CDT

Belgium Bails Out Failing Dexia

Belgian division to be nationalized; Belgium, France offer guarantees

(Newser) - Leading Franco-Belgian bank Dexia has agreed to a government rescue plan—making it "the biggest euro zone bank failure in quite some time," one analyst tells the New York Times . The plan will nationalize Dexia's Belgian banking division in a $5.4 billion government buyout; meanwhile, Belgium,...

Angela Merkel, Nicolas Sarkozy Hammer Out Deal to Recapitalize Banks
 Merkel, Sarko Reach Bank Deal 
Oct 9, 2011 11:50 AM CDT

Merkel, Sarko Reach Bank Deal

Mum on details, will pitch to EU leaders this month

(Newser) - The leaders of Germany and France, the eurozone's two biggest economies, say they have reached agreement on strengthening Europe's shaky banking sector. German Chancellor Angela Merkel says she and French President Nicolas Sarkozy "are determined to do the necessary to ensure the recapitalization of Europe's banks....

Germany OKs Expanded Bailout
 Germany OKs Expanded Bailout 
Sep 29, 2011 7:40 AM CDT

Germany OKs Expanded Bailout

Merkel gets her win; move designed to shore up euro zone

(Newser) - German lawmakers have cleared the way for an expansion of the size and powers of the euro zone bailout fund, in a major step toward tackling the bloc's sprawling sovereign debt crisis. A clear majority of lawmakers in Germany's lower house of parliament voted today in favor of...

Silvio Berlusconi Has Some Really Nasty Things to Say About Angela Merkel
 Berlusconi: Merkel 'Unf***able' 
Sep 15, 2011 6:56 AM CDT

Berlusconi: Merkel 'Unf***able'

Italian PM recorded dissing German chancellor in phone call

(Newser) - Maybe Silvio Berlusconi mistook Angela Merkel for a lady on the prowl instead of the leader of one of the globe's more stable economies: The cringe-inducing Italian PM's latest involves a phone conversation—with a newspaper editor, not a fraternity brother—in which he reportedly refers to the...

Now Rich Germans Want to Pay More Taxes

Wealthy folks worldwide take Buffett's lead

(Newser) - Warren Buffett’s plea for raised taxes seems to have caused a chain reaction: A French group followed suit , and the head of Ferrari said he should pay more. A group of wealthy Germans is the latest to seek higher rates, the Guardian reports. The 50-member alliance has asked...

Forbes Lists World's 100 Most Powerful Women
 World's Most 
 Powerful Woman Is... 
'forbes' top 100
Aug 24, 2011 5:57 PM CDT

World's Most Powerful Woman Is...

Angela Merkel, followed by Hillary Clinton

(Newser) - Want to get onto Forbes ’ annual 100 Most Powerful Women list? Better get yourself into one of these six categories, which is where all of this year’s candidates came from: billionaires, business, lifestyle, media, nonprofits, and politics. Candidates were ranked by money, traditional and social media influence, and...

Investors: Merkel, Sarkozy Plan a Letdown

Investors want big moves, not baby steps

(Newser) - Yesterday's meeting of French President Nicolas Sarkozy and German Chancellor Angela Merkel underwhelmed markets, which had been hoping for more radical steps to help the euro zone, reports the Wall Street Journal . It seems investors want more than what the two proposed—among other things, an elected euro-zone president—...

As Merkel, Sarkozy Meet, More Sour Financial News

German GDP was expected to grow 0.5% in Q2 ... and it didn't

(Newser) - Today's financial word of the day: Germany. All eyes are on Angela Merkel's 10am ET talks with Nicolas Sarkozy, as the pair meets to weigh additional moves that could bolster investor confidence in the euro zone. That task will no doubt be a bit tougher following today's...

Germany: All Nuke Plants Shut Down by 2022

Country is largest industrial power to make such a pledge

(Newser) - In the wake of the disaster at Japan’s Fukushima Dai-ichi nuclear plant, Germany has announced plans to phase out all of its nuclear power plants by 2022. With this move, Germany will become the largest industrial power to give up nuclear energy, the BBC reports. The country’s seven...

Merkel's Party Loses Big in Stronghold

Conservatives lose Baden-Wuerttemberg first time in 58 years

(Newser) - Japan's nuclear disaster is not just an environmental tragedy—it has started claiming political victims. Germany's Green Party appears poised to win a state government for the first time, trouncing Chancellor Angela Merkel's conservatives in their stronghold in southwest Germany. The Greens and Social Democrats won 47.3% in Baden-Wuerttemberg...

Germany Shuts Down 7 Nuclear Reactors

Older reactors will cease operations for at least 3 months

(Newser) - Japan’s growing nuclear crisis has led Germany to shut down seven of its nuclear power plants for at least three months, the New York Times reports. Plants that began operating before the close of 1980 will temporarily close while officials complete a safety review for all 17 of the...

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