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Michael Nienaber

German economy shrinks at record pace in 'recession of a century'

Jul 30 2020

BERLIN The German economy contracted at its steepest rate on record in the second quarter as consumer spending, company investment and exports all collapsed during the peak of the COVID-19 pandemic, wiping out nearly 10 years of growth. | Video

German business morale brightens, but second coronavirus wave threatens outlook

Jul 27 2020

BERLIN German business morale continued to recover in July from its biggest decline in decades, with companies expecting Europe's largest economy to rebound from the coronavirus shock - as long as a second wave of infections is avoided.

Wie Corona die deutsche Leistungsbilanz wieder ins Lot bringt

Jun 26 2020

Berlin Was Donald Trump und EU-Kommission mit ihren mehr oder minder freundlichen Appellen nicht geschafft haben, gelingt Corona im Handumdrehen: Der im Ausland seit Jahren angeprangerte enorme deutsche Exportüberschuss wird nach Prognose von Bundesbank und führenden Instituten wegen der weltweiten Rezession in diesem Jahr kräftig sinken.

Coronavirus and Merkel's quest for legacy speed up German rebalancing

Jun 25 2020

BERLIN A coronavirus-induced plunge in German exports and a fiscal U-turn by Chancellor Angela Merkel as she seeks to cement her place in history are accelerating a long demanded rebalancing of Europe's largest economy.

German private sector slowly digging its way out of recession: PMI

Jun 23 2020

BERLIN Germany's private sector recession eased further in June but coronavirus-related disruptions and uncertainty continued to weigh on demand, a survey showed on Tuesday, suggesting that Europe's largest economy is set for a slow recovery.

German prosecutors accuse Russia of ordering murder of former Chechen rebel in Berlin

Jun 19 2020

BERLIN German federal prosecutors accused Russia on Thursday of ordering the killing of a former Chechen rebel in Berlin last summer and indicted a Russian man for the murder, which has severely strained diplomatic ties. | Video

German cabinet approves record new borrowing in coronavirus fight

Jun 17 2020

BERLIN Chancellor Angela Merkel's cabinet on Wednesday passed another extra budget to finance its bumper stimulus package, pushing up overall new borrowing to a record 218.5 billion euros ($245.35 billion) this year in its fight against the coronavirus. | Video

Ka-boom! How Germany's 'Mr Thrift' Scholz came to splash the cash

Jun 17 2020

BERLIN Four months is an eternity in pandemic politics. As recently as February, Finance Minister Olaf Scholz was Germany's Mr Thrift, a devotee of the "black zero" balanced-budget rule.

Germany's debt plans create budget deficit of 7.25% this year: sources

Jun 15 2020

BERLIN German Finance Minister Olaf Scholz will ask parliament to increase new borrowing by a further 62.5 billion euros ($70.5 billion) to a record 218.5 billion this year for measures to boost recovery from the coronavirus pandemic, two people familiar with the plans said on Monday.

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