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Commerzbank mulls state-backed bond issue
Economy

Commerzbank mulls state-backed bond issue

Germany's second biggest bank, Commerzbank, may raise fresh funds via what would be the first government-backed German bond issue within the framework of a banking sector rescue package, a spokeswoman told AFP on Tuesday.
Every fifth eastern German makes under €7.50/hour
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Every fifth eastern German makes under €7.50/hour

The proportion of eastern German employees earning less than €7.50 per hour is 20 percent, compared to 12 percent of western Germans, according to the Halle Institute for Economic Research (IWH). The study was based on data collected from thousands of German households. According to the institute, a worker earning €7.50 per hour and working a 40 hour week would bring home roughly €1,300 per month gross salary.