The Local Germany

Famed German art show on brink of bankruptcy after running up millions in debts

Wed, 13 Sep 2017 16:40:40 +0200

International art exhibition documenta in Kassel is on the brink of insolvency just days before it comes to a close on Sunday.

Germany has second-highest surplus in EU

Tue, 21 Apr 2015 18:58:05 +0200

Germany reported the second-largest government surpluses as a percentage of GDP in the EU last year and was one of only four countries to stay in the black, according to a report published on Tuesday.

Germany lowers 2013 public deficit forecast

Wed, 02 Oct 2013 13:20:00 +0200

Germany on Wednesday gave an upbeat forecast for its public deficit this year, with the finance ministry saying it would hit 0.2 percent of gross domestic product.

Germany cuts deficit faster than expected

Mon, 22 Aug 2011 12:54:00 +0200

Germany, Europe's powerhouse economy, will balance its public finances sooner than expected, slashing this year's projected budget deficit to 1.5 percent from 2.5 percent, the Finance Ministry announced Monday.

Merkel’s cabinet backs budget and tax cuts

Wed, 06 Jul 2011 16:03:00 +0200

Chancellor Angela Merkel’s cabinet on Wednesday signed off on budgetary plans that would see Germany’s deficit drop to €27.2 billion next year and cut taxes and social security contributions in 2013.

Booming economy seen shrinking deficit in coming years

Mon, 14 Mar 2011 17:11:00 +0100

Thanks to the booming economy and shrinking unemployment, Germany’s deficit for 2012 will likely be much lower than initially feared, sinking to €31.5 billion, according to government sources.

Merkel: EU conservatives ready to defend euro

Fri, 04 Mar 2011 20:41:00 +0100

German Chancellor Angela Merkel on Friday said that the European Union's conservative leaders were committed to hashing out a proposal they hope will strengthen the euro.

Economy grows record 3.6 percent in 2010

Wed, 12 Jan 2011 10:41:00 +0100

The German economy, Europe's biggest, grew by a record 3.6 percent last year, provisional figures released on Wednesday by the national statistics office showed.

Debt hits new record high

Mon, 20 Dec 2010 15:44:00 +0100

Despite revenue windfalls, Germany’s public debt has soared to record levels, with government now owing nearly €22,000 for every man, woman and child in the country.

No tax cuts, Merkel says

Wed, 03 Nov 2010 09:15:00 +0100

German Chancellor Angela Merkel rejected calls for tax cuts on Wednesday, saying that though the economy has rebounded, the government must still cut its deficit.

Germany, France agree on EU deficit penalties

Tue, 19 Oct 2010 09:55:00 +0200

Germany has struck a compromise deal with France to avoid future Greek debt-style crises by toughening the punishment for European Union members who let their deficits spiral, media reported Monday night.

Deficit will meet EU limits in 2011, Germany says

Fri, 15 Oct 2010 17:58:00 +0200

Germany said on Friday it was "confident" of cutting the deficit on its public finances to within EU limits in 2011, the first major eurozone economy to do so since the global recession.

Tax revenue surges

Sun, 19 Sep 2010 13:06:00 +0200

Both the federal and state German governments received a healthy increase in tax revenue in August, a report in newspaper Bild said Saturday. This has been received as another sign of the country's economic recovery.

Germany to hit EU deficit target a year early

Thu, 15 Jul 2010 13:01:00 +0200

Germany will meet its European Union deficit goals one year earlier than expected, new Finance Ministry projections showed on Thursday.

Armed forces personnel could be cut by 100,000

Tue, 22 Jun 2010 14:25:00 +0200

Germany’s military reportedly faces cuts that are even deeper than previously feared under provisional plans that could see defence personnel slashed by 100,000.

Germany to take on less debt than projected

Tue, 22 Jun 2010 10:39:00 +0200

The German federal government won’t have to take on nearly as much debt in this year as previously feared, a media report said on Tuesday.

Gauck criticises government savings plans as not fair enough

Sat, 12 Jun 2010 12:35:00 +0200

Joachim Gauck, the former East German civil rights activist and candidate for president, has stirred things up by criticising the government’s savings plans for not being socially fair.

Austerity package sparks heated debate

Tue, 08 Jun 2010 10:44:00 +0200

The government’s plan for deep spending cuts sparked fierce debate on Tuesday, with some in the coalition defending the package while social justice advocates, unions and German cities slammed the plan as unjust.

Where the axe has fallen: a budget cut breakdown

Tue, 08 Jun 2010 15:09:00 +0200

As the dust settles on the German government's plans for a round of brutal belt-tightening, The Local breaks down the numbers and the details to see how it affects you.

Schäuble moots hiking 'solidarity' tax to help rescue budget

Thu, 03 Jun 2010 20:32:00 +0200

As the German government scrambles to rein in the ballooning deficit, Finance Minister Wolfgang Schäuble has reportedly proposed a hike in so-called 'solidarity' surcharge - the unpopular reunification tax.