IMF-EU debt deal is what stands between Athens and new loans

Euro zone finance ministers may agree on Monday to release new loans to Greece but are likely to struggle to convince the International Monetary Fund to join the bailout by keeping the prospect of debt relief for Athens highly conditional. Greece needs new cash from the euro zone to avoid a default in July when it has to repay some 7.3 billion euros worth of maturing loans. To get the money, the Greek parliament approved pension cuts and tax hikes last Thursday…

World Bank chief: Cutting UK’s aid budget could lead to rise in conflict and migration

The president of the World Bank has told Theresa May that cutting the UK’s aid budget could lead to an increase in conflict, terrorism and migration and would damage Britain’s international reputation. In a strongly worded response to reports that the government was considering dropping its commitment to devote 0.7% of national income to aid each year, Jim Yong Kim said the money the UK provided was vital not just for developing countries but for the future of the world…

France is the weakest economy next to Germany and the U.K.

France is stuck in a major rut. Europe’s third biggest economy has suffered years of anemic growth, high unemployment and budget deficits, while neighbors such as Germany and the U.K. have enjoyed a stronger recovery from the global financial crisis. The country’s economic malaise is a major issue in presidential elections scheduled for Sunday…

G20 failure to agree on resisting protectionism considered as setback for Germany

The failure of the world’s financial leaders to agree on resisting protectionism and support free trade marks a setback in the G20 process and poses a risk for growth of export-driven economies such as host Germany, economists said on Sunday. Acquiescing to an increasingly protectionist United States after a two-day meeting in the German town of Baden-Baden, the finance ministers and central bank governors of the 20 biggest economies dropped a pledge to keep global trade free and open…

Global stock market near record highs, dollar slips after Fed’s rate hike

World stocks perched near a record high on Friday after a week when most of the world’s biggest economies either raised rates, or signaled hikes, in a strong sign of confidence about global growth and inflation. Investors turned their attention to a meeting of world finance chiefs in Germany starting Friday, where topics including economic reform, protectionism and exchange rates are expected to be on the agenda…

ECB leaves rates unchanged, keeps policy even as EU economic upturn gains steam

FRANKFURT — The European Central Bank hinted at the beginning of the end of its massive monetary stimulus, but stopped short of a significant move to rein it in, brushing off concerns that its policies are excessive as the eurozone’s EUR10 trillion ($10.542 trillion) economy picks up speed. The ECB’s decision on Thursday to keep its foot on the gas underscores the divergence between the world’s two most powerful central banks…

Does the U.S. trade deficit mean that America is losing money?

Under President Trump’s description of a trade deficit, America is losing money to Mexico, China, Germany and Japan. America had a trade deficit with all those countries in 2016. But that’s not the same as losing money. A trade deficit means the U.S. bought more goods and services from each of those countries than they bought from America…

U.S. directs anger towards China over unfair trade

FRANKFURT — China bears the brunt of U.S. anger over unfair trade, but Germany’s foreign surpluses are now far larger and may be more consequential for America’s economy and the rest of the world. Low-wage Chinese workers have put downward pressure on U.S. manufacturing wages for years, but Germany’s industries compete more directly with U.S. industries…

Trump, Brexit, Germany and France elections to take toll on EU economy

The European Commission said on Monday that uncertainty about U.S. policies, Brexit and elections in Germany and France would take their toll on the euro zone economy this year. It forecast euro zone economic growth to lose some speed this year before rebounding in 2018. It saw a sharp growth drop ahead in non-euro zone and EU-leaver Britain…

Draghi forcefully rejects accusations that Germany manipulates the euro

European Central Bank President Mario Draghi has struck back at the Trump administration, forcefully rejecting accusations that Germany is manipulating the euro and warning that banking regulations must not be rolled back. “We are not currency manipulators,” Draghi said Monday at a hearing in the European Parliament. “Our monetary policies reflect the diverse positions in the economic cycle of the eurozone and the United States.”…

Trump says Japan, China, and Germany ‘play the market’, guilty of ‘global freeloading’

Japan has rejected Donald Trump’s claims that Tokyo was deliberately weakening the yen to gain an unfair trade advantage over the US. Trump told a meeting of pharmaceutical companies on Tuesday that Japan, along with China and Germany, were guilty of “global freeloading” for using regulation and currency devaluation in their trade dealings with the US…

German consumer prices rises 1.9% in January, hits 3-1/2 year high

German inflation picked up further in January, hitting the highest level in three-and-a-half years to touch the European Central Bank’s price stability target of just under 2 percent, preliminary data showed on Monday. The consumer price figures, published by the Federal Statistics Office, are likely to fuel the political debate in Germany, Europe’s biggest economy, about ending the ECB’s loose monetary policy…

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