The Local Germany

Germans set to spend €273 on Christmas gifts

Tue, 05 Nov 2013 15:27:00 +0100

The average German will spend €273 on Christmas presents this year - €43 more than last year, according to a new survey.

Nearly one in ten Germans cannot pay bills

Fri, 09 Nov 2012 08:08:00 +0100

The number of people in Germany who are heavily in debt rose dramatically this year, with nearly one in ten unable to pay their bills, according to figures released on Thursday.

Credit bureau to trawl Facebook for information

Thu, 07 Jun 2012 10:32:00 +0200

Germany’s biggest credit bureau Schufa plans to tap social networks such as Facebook and Google Street View in a huge data trawl for personal information to use in deciding whether a person is credit-worthy.

Brüderle demands banks boost business lending

Wed, 02 Dec 2009 12:53:00 +0100

German Economy Minister Rainer Brüderle pressed banks on Wednesday to increase lending as the government named a "credit mediator" to boost the number of business loans.

New state programme to aid struggling companies

Sat, 29 Aug 2009 17:10:00 +0200

German Economy Minister Karl-Theodor zu Guttenberg has announced a plan to create a €10 billion state fund to help companies in credit difficulties, news magazine Der Spiegel reported Saturday.

Unlimited guarantee promised for all German accounts

Mon, 06 Oct 2008 01:41:00 +0200

The German government has offered an unlimited guarantee for all private bank deposits, a finance ministry spokesman told AFP on Sunday, in a bid to prevent a panic run on banks in Europe's biggest economy.

Germany rescues Hypo Real Estate

Mon, 06 Oct 2008 01:21:00 +0200

The German government, the Bundesbank central bank and market regulators have agreed with the private banking sector a new €50-billion rescue package for stricken bank Hypo Real Estate, the finance ministry said on Sunday evening. Earlier in the day, the government had announced that all German savings would be guaranteed if banks failed.

German economic advisor sees worst crisis since 1945

Sat, 22 Mar 2008 15:42:00 +0100

A senior German economist has said the global economy is in its worst crisis since 1945, and that he sees clear risks for the German economy.