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Markus Kerber, managing director at the Bundesverband der Deutschen Industrie (BDI), the Federation of German Industries. (Photo: DWN/Jakob Reinhardt)

Federation of German Industries wants more German leadership in resolving the Euro crisis

Markus Kerber, magaging director of the Federation of German Industries (BDI), want to see German and European industries taking leadership to resolve the Euro crisis. As banks and governments are locked into their own problems, European industrial leaders should take the helm and try to stimulate growth with significant investments.

German Ecomony Minister “doubtful” whether Greece will remain part of Euro area

German Minister for Economics and Technology Phillip Roesler expressed his doubt regarding if Greece even be capable to conduct a proper austerity program.

As crisis worsens, surprise visit by Spain’s de Guindos to Berlin

Spain’s Economy Minister Luis de Guindos announced in front of the Spanish Parliament, Spain would not need a complete bailout or rescue package. Despite this optimism it has now been announced that he is flying to Berlin tomorrow.

Spanish 10 year sovereign debt came under pressure on Wednesday. (Chart: Bloomberg)

Investors buy German Bunds at record negative yields, amid uncertainty over Euro periphery

On Wednesday Germany again sold 2 year-Bunds at negative yields. The yield was at 0.06%. This was the lowest value ever. The yield was at 0.06%. This was the lowest value ever. At the moment these are perceived to be a safe haven in the bond market amid ongoing uncertainties in Spain and Italy.

Although Italy's Mario Monti is pushing hard, Angela Merkel does not want to give in on German key objectives for Europe such as stability and accountability. (Photo: consilium)

Merkel says European banking union is a future task, not to happen soon

German Chancellor Angela Merkel is not willing to move ahead quickly with allowing direct aid for European banks from either EFSF or ESM. Instead, she confirmed that every state will have to guarantee for its banks. This will lead to higher deficits in states where banks need to apply for money from the bailout funds.

Court ruling may lead to new social benefits totalling €218 million for refugees

Germany, already one of the most desired countries for refuges may face a tough challenge in financing additional social benefits for people seeking for asylum. The Constitutional Court ruled that the benefits refugees are entitled now are far too low, forcing the German government to draft a new law with significantly higher payments to be financed by the taxpayer.

Economic professor Huelsmann warns debt crisis might turn into hyperinflation

Guido Huelsmann, professor for economics at the University of Angers, France, is convinced that the Euro will lose greatly on his value through and this will finally lead to the break-up of the common currency in the Euro zone.

Opel and Peugeot hit hard as European car makers report decline in sales

The branch association European Automobile Manufactures’ Association (ACEA) reported that the registration of cars has fallen by 2.8%. Countries such as Spain (-12.1%) or Italy (-24.4%) are reporting significant declines.

If Italy fails, Angela Merkel will have a lot to explain to the German public. (Photo: consilium)

Open Europe: If Italy needs a bailout, sentiment in Germany will change

Pieter Cleppe from London based think tank Open Europe expects the ESM to get started despite growing political concern in several Euro countries. However, he thinks the ESM is too small to save the Euro.

German chancellor Angela Merkel and José Manuel Barroso, president of the EU commission, have spent quite some time in elaborating the ESM treaty. (Photo: consilium)

Citi: No subordination for European taxpayers in ESM legal framework

In an analysis, Citi concludes that the current legal framework for the ESM does not offer special protection for taxpayers as suggested to the German parliament ahead of last week's vote. The subordination clause would trigger the CDS, why such a protection is legally not possible without blowing up the system. German politics finds itself under scrutiny over not telling parliament the truth.