Political reasons played an important role in his decision to leave his job at the European Central Bank, outgoing ECB chief economist Jürgen Stark told the <i>Wirtschaftswoche</i> magazine.
Germany on Wednesday poured cold water on hopes for a decisive breakthrough at an EU summit over the coming two days that has been dubbed the last chance to save the beleaguered euro.
Germany's EU Commissioner Günther Oettinger has added his voice to those calling on Germany to give up its firm rejection of eurobonds as a means to ending the eurozone’s debt crisis.
With Europe's sovereign debt crisis now threatening the survival of the euro, Germany will need to do more than simply force austerity on its neighbours, writes The Local's Marc Young.
The European Central Bank joined monetary authorities around the world on Wednesday in a concerted effort to reduce strains on the financial markets and boost lending to businesses and consumers.
France and Germany are battling for a key post at the European Central Bank amid deepening differences over the role the bank should take in the eurozone debt crisis, sources revealed on Tuesday.
Germany faced mounting pressure Sunday to let the European Central Bank (ECB) save the crisis-hit eurozone, as reports surfaced of IMF contingency bailout planning for a re-modelled Italy.
The leaders of the eurozone's three largest economies will meet in Strasbourg on Thursday in a bid to resolve their differences over how to handle Europe's critical debt crisis.
The European Central Bank should not act as lender of last resort for struggling eurozone countries, the head of Germany's central bank said on Tuesday, warning it could destroy its independence.
Chancellor Angela Merkel on Thursday denied rumours that Germany was considering allowing struggling euro countries to leave the single currency, amid increasing concerns about a eurozone split and warnings of a recession.
German Chancellor Angela Merkel told Greece on Thursday that it was "actions that count" following reports it could abandon a referendum on a bailout package.
The European Central Bank on Thursday unexpectedly cut its benchmark interest rate by a quarter of a point to 1.25 percent, in an apparent attempt to bolster Europe’s economy amid the Greek debt crisis.
The debt crisis that has crippled Europe in recent months has not been overcome despite a comprehensive package clinched by eurozone leaders, the president of the European Central Bank (ECB) warned on Sunday.
European Union governments must not be allowed to decide European Central Bank (ECB) action at Wednesday’s summit on the eurozone debt crisis, Chancellor Angela Merkel said on Tuesday.
Hundreds of people again took to the streets of Frankfurt and Berlin on Saturday to demonstrate against perceived injustice in the financial system, but the crowds were notably smaller than those seen at protests one week ago.
German industrial giant Siemens refused on Tuesday to comment on a newspaper report that it had withdrawn about half a billion euros in cash from a French bank and parked it at the European Central Bank.
The world's leading central banks have decided on joint action to provide banks with extra dollar liquidity, the European Central Bank said on Thursday.
European Central Bank chief economist Jürgen Stark resigned in a shock announcement Friday, sending the euro and European stock markets into freefall as fears about the debt crisis deepened.
German President Christian Wulff criticised measures taken by the European Central Bank (ECB) to beat back a debt crisis in the eurozone, saying on Wednesday it was "asking for trouble" by buying government bonds.
The European Central Bank's German chief economist said Wednesday that a proposal for an EU rescue fund to buy Greek bonds might work but that markets would likely still feel Athens had defaulted on its debt.
German Chancellor Angela Merkel said on Tuesday that the eurozone summit on a second Greek rescue would not produce a "spectacular" knock-out blow to the bloc's sovereign debt crisis.
Chancellor Angela Merkel has defended her handling of the eurozone debt crisis, saying Germany was working to shore up the European currency and bring stability to Greece.
Swiss banking giant UBS said Friday it is planning for former German central bank chief Axel Weber to take over as its next chairman, saying that he will be nominated to the board in 2012 before taking over the top post in 2013.
German banks agreed Thursday with the German government to participate in a second debt rescue package for Athens by rolling over some of their Greek bonds, Finance Minister Wolfgang Schäuble said.
Germany's new central bank president Jens Weidmann warned debt-laden Greece that international creditors will pull out aid if it fails to pursue painful cuts to tackle its huge deficit as promised.
