Olaf Scholz

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German chancellor Angela Merkel: ‘The claim she only ever follows public opinion is not true.’ Photograph: Clemens Bilan/Pool/EPA

A decade ago Angela Merkel was crowned Europe’s austerity queen for – in the eyes of hard-hit euro crisis countries – demanding cuts as her price for (...)

Chancellor Angela Merkel said the fact that Germany had seven million temporarily furloughed workers “shows how fragile the situation is”. Photograph: Getty

The German government has agreed a €130 billion fiscal stimulus centred on a big cut in value added tax as it scrambles to mitigate the economic damag(...)

Emmanuel Macron and Angela Merkel announce their historic €500bn EU recovery plan at a videoconference on May 18th.  Photograph: Kay Nietfeld via Getty Images

When German chancellor Angela Merkel announced one of the biggest U-turns of her career this week, the declaration was both emphatic and unexpected. (...)

French Economy and Finance Minister Bruno Le Maire checks his phone during a break in a videoconference meeting of the Eurogroup of eurozone finance ministers

The 19 finance ministers of the euro zone failed to reach agreement in marathon overnight talks on how to rescue the continent from a steep downturn e(...)

Donald Trump may have started the process of undermining the multilateral order and its key institutions, but it is half-hearted support by member states at this time of crisis, not the institutions themselves , which is hobbling it. Photograph: Joshua Roberts/ Reuters

Since the global coronavirus outbreak, the powerful 15-member UN Security Council has yet to meet. Largely, diplomats suggest, because of a stand-off (...)

Stephen Molloy and Gunnar Rönsch, partners in Fundamental Berlin

When Germany announced a massive package of measures on Monday to cushion the devastating effects of coronavirus on Europe’s largest economy, Stephen (...)

German finance minister Olaf Scholz: ‘150 billion is a large amount, but it gives us the flexibility that we now need’. Photograph: Hayoung Jeon/EPA

Germany is readying an emergency budget worth more than €150 billion to shore up jobs and businesses at risk from the economic impact of the coronavir(...)

People queue in front of the gold trading store, Degussa,  in Berlin, on Monday. Photograph: Annegret Hilse/Reuters

On a leafy side-street in western Berlin, the 26th person joins a queue outside the shop. It’s not a supermarket, nor is it a chemist. It’s a gold sho(...)

European stock markets, including Dublin’s Iseq, snapped a six-day losing streak as central banks and governments promised more stimulus measures to thwart a global recession. Photograph: Bloomberg

Global financial markets clawed back a small slice of their losses on Friday after a brutal week of selling – the worst since the Black Monday crash o(...)

Italy used to inject €5.4 billion into Banca Monte dei Paschi di Siena in 2017. Photograph: iStock

European Union officials are weighing a new crackdown on bank bailouts after national governments exploited loopholes in rules passed in the wake of t(...)

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