The failure of the advocate general to outlaw OMT at this juncture is likely to be welcomed by the ECB

The European Court of Justice has said that the ECB’s controversial Outright Monetary Transactions (OMT) programme is compatible in principle with (...)

The mood of self-congratulation in Berlin over the balanced budget makes any easing of fiscal policy seem unlikely, even though the German economy is expected to slow this year.

Germany boasted on Tuesday it had balanced its budget for the first time since 1969 and pressed euro zone partners to follow its austere example rath(...)

The timing of the legal opinion is sensitive, coming just over a week before the ECB’s next governing council meeting in Frankfurt at which it is expected the central bank may announce some form of full-scale quantitative easing.  Photograph: Reuters

The ECB will hear today if its bond-buying programme, known as Outright Monetary Transactions (OMT), is in danger of breaching EU law. The European Co(...)

Consequences for Europe

Greece’s parliamentary elections on January 25th promise to reopen the eurozone crisis just as the European economy risks tipping into a deflationary (...)

Ancient Greece themed fridge magnets sits for sale beside a one euro price sign at a Euro store in Athens, Greece. As Greeks are being urged to vote for a mainstream party to avoid EU exit,  there are reasons to fear a so-called ‘Grexit‘. (Photograph: Kostas Tsironis/Bloomberg)

The attempts by the eurozone’s big beasts to bully Greeks into voting the “right” way in their general election have begun. Der Spiegel magazine repo(...)

German economics minister Sigmar Gabriel said on Monday he expected existing agreements to be honoured by a new Greek government, “whoever forms it”. Photograph: Reuters

Germany has said it will not be “blackmailed” into renegotiating Greece’s rescue programme should a new hard left government take office after electio(...)

Fireworks explode over the ancient Parthenon temple on the Acropolis Hill during the New Year’s celebrations in Athens. It was reported over the weekend that Germany now believes that the euro zone would be able to cope with a Greek exit, or “Grexit”, if necessary. (Photograph: ALEXANDROS VLACHOS/EPA)

The German government wants Greece to stay in the euro zone and there are no contingency plans to the contrary, Vice Chancellor Sigmar Gabriel said o(...)

Commerzbank’s equity stood at €27.6 billion as of September 30th, of which €20.2 billion resided in its core bank

Commerzbank boss Martin Blessing has restored the German lender to health but it is unlikely to meet ambitious 2016 turnaround targets as it faces to(...)

Commerzbank shares gained 1.4 per cent yesterday to close at €11.98 in Frankfurt trading, and rose 2.3 pe rcent this year

Commerzbank, Germany’s second-largest lender, said third-quarter profit rose, beating estimates, as provisions for risky loans decreased and sales ros(...)

A convoy of East German cars queue up at Unter den Linden avenue in East Berlin before crossing the border line under the Brandenburg Gate into West Berlin as a result of the opening of the Berlin Wall on November 11th, 1989. Photograph: Derrick Ceyrac/AFP/ Getty Images

‘We are pleased that German unification is taking place under a European roof”. These words from the conclusions of the European Communities summit in(...)