November 16, 1999 |
Emboldened by a scholarly report that German industry earned the current equivalent of nearly $100 billion on the backs of Nazi-era slave laborers, lawyers for the victims demanded Monday that the state and leading companies significantly boost their compensation offer of about $3.7 billion. On the eve of negotiations scheduled to resume today in Bonn, U.S.
February 8, 1997 |
If everything had gone according to plan, Chancellor Helmut Kohl would already be working out of a gleaming new federal chancellery here in Germany's once and future capital. But creating new seats of government can be a lengthy process, and as things have turned out, Kohl just turned the first shovelful of earth for the new chancellery this week.
August 19, 1996 |
Kohl Rejects Tax Cuts: German Chancellor Helmut Kohl said cutting taxes is out of the question since the government has already squeezed all the savings it can out of its budget. "I cannot lower taxes, and will do so under no circumstances if it leads to an increase in the national debt," Kohl told German television. "And we have reached a limit as far as savings goes."
March 14, 1996 |
German Finance Minister Theo Waigel on Wednesday imposed a spending freeze aimed at getting the federal government's 1996 deficit back on target. The freeze, which goes into effect Friday, will mean spending cuts in some areas because "extra spending" will probably be needed to meet the cost of high jobless levels, Waigel told the Bundestag, or the lower house of Parliament. The overall size of the cuts won't be clear until the next tax estimate in mid-May, Waigel said.
August 25, 1995 |
The German Bundesbank slashed short-term interest rates Thursday to their lowest level since December, 1988, in a move that could re-energize Europe's economy and help strengthen the rebounding U.S. dollar. In the United States, meanwhile, a weaker-than-expected report on July durable-goods orders drove short- and long-term bond yields sharply lower on hopes that the Federal Reserve Board may also still have room to reduce rates.
August 24, 1995 |
The Bundesbank trimmed its chief money market rate to 4.39% from 4.45%, moving a step closer to more substantial cuts in German interest rates. "This is a clear indication that the Bundesbank is willing to cut," said Ulrich Beckmann, an economist at DB Research, the research arm of Deutsche Bank. "It just depends whether they'll do it tomorrow or wait for two weeks."