Jobs

Deutsche Bank could slash up to 20,000 jobs

Banking giant Deutsche Bank is considering slashing more than a fifth of its workforce, according to media reports.

crisis

Liveblog: Blockupy anti-ECB demo in Frankfurt

Frankfurt remains on alert after a morning of violence, burned cars and hundreds of arrests gave way to what is hoped to be an afternoon of peaceful protest. Organizers of the "Blockupy" demonstration against the new European Central Bank (ECB) building said they distanced themselves from the violence. Follow the latest updates here.

European Union

Schäuble wants brand new EU treaty

German Finance Minister Wolfgang Schäuble has told the leadership of his Christian Democratic Union party that he wants the European Union to create a new treaty that gives Brussels greater powers in financial policy.

Politics

Naser steps down over BayernLB fiasco

The president of Bavaria’s Savings Bank Association, Siegfried Naser, bowed to public pressure over the €3.75 billion BayernLB bank debacle and resigned on Wednesday.

laws

Economy Ministry under fire for outsourcing bank law

German politicians lambasted the Economy Ministry on Wednesday for outsourcing a draft legislation to a law firm, calling it “suspicious” and “unprofessional,” news magazine <i>Der Spiegel</i> reported.