Jens Weidmann http://www.globalpost.com/taxonomy/term/39068/all en Bundesbank 2012 profits stall on higher risk provisions http://www.globalpost.com/dispatch/news/afp/130312/bundesbank-2012-profits-stall-higher-risk-provisions <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The Bundesbank said on Tuesday that its net profit for last year rose only slightly from a year earlier, owing to a steep increase in risk provisions.The German central bank said in a statement its net profit amounted to 664 million euros ($864 million) in 2012, compared with 643 million euros in 2011.The entire amount would be transferred to the federal government."Despite significantly higher interest income, there was scarcely any rise in the profit owing to a further steep increase in risk provisioning," Bundesbank President Jens Weidmann told the bank's annual balance sheet press conferen</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130312/bundesbank-2012-profits-stall-higher-risk-provisions" target="_blank">read more</a></p> Euro European Central Bank European Union Jens Weidmann AFP Tue, 12 Mar 2013 10:46:03 +0000 Agence France-Presse 5780520 at http://www.globalpost.com ECB's Weidmann says Italy cannot count on aid http://www.globalpost.com/dispatch/news/thomson-reuters/130316/ecbs-weidmann-says-italy-cannot-count-aid <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>BERLIN (Reuters) - Italy cannot count on the European Central Bank (ECB) buying up its bonds if its borrowing costs rise as a result of its politicians discussing rowing back on reforms, ECB Bank policymaker Jens Weidmann warned in a German magazine.</p> <p>Financial markets have been on tenterhooks since Italy's election less than two weeks ago in which the centre left won a majority in Italy's lower house of parliament but failed to gain the Senate majority it would need to govern.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130316/ecbs-weidmann-says-italy-cannot-count-aid" target="_blank">read more</a></p> Business Central bankers European Union Jens Weidmann Jens Weidmann Labor Law Thomson Reuters Sat, 16 Mar 2013 08:45:03 +0000 Thomson Reuters 5785192 at http://www.globalpost.com Bundesbank boss tells Italy to stick with reforms: report http://www.globalpost.com/dispatch/news/afp/130316/bundesbank-boss-tells-italy-stick-reforms-report <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The head of Germany's central bank has told Italy to stick to its pledges of budget cuts and economic reforms, warning there was no guarantee of being bailed out.</p> <p>"Citizens and the government decide national policy, and must bear the consequences," Bundesbank president Jens Weidmann told the weekly Focus magazine, according to interview excerpts released Saturday.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130316/bundesbank-boss-tells-italy-stick-reforms-report" target="_blank">read more</a></p> Europe Italy Jens Weidmann AFP Sat, 16 Mar 2013 13:15:45 +0000 Agence France-Presse 5785328 at http://www.globalpost.com ECB's Weidmann - bank union no quick fix for crisis http://www.globalpost.com/dispatch/news/thomson-reuters/130319/ecbs-weidmann-bank-union-no-quick-fix-crisis <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>FRANKFURT (Reuters) - Europe's planned banking union will not solve the bloc's debt crisis, Europe European Central Bank policymaker Jens Weidmann said on Tuesday.</p> <p>European leaders have agreed to set up a new European banking supervisory body as the first pillar of a bank union that will also include a joint framework to wind down banks, as well as a common deposit scheme to shield taxpayers from having to foot the bill for any future financial crises.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130319/ecbs-weidmann-bank-union-no-quick-fix-crisis" target="_blank">read more</a></p> Europe European Union Jens Weidmann Thomson Reuters Tue, 19 Mar 2013 11:45:04 +0000 Thomson Reuters 5787648 at http://www.globalpost.com European stocks hit by German downgrade rumours, comments http://www.globalpost.com/dispatch/news/afp/130417/european-stocks-hit-german-downgrade-rumours-comments <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>European stock markets fell sharply on Wednesday, hit by comments by the Bundesbank chief that the debt crisis could take a decade to overcome and speculation swirled over a potential credit rating downgrade.</p> <p>Frankfurt's DAX 30 fell 2.34 percent to 7,503.03 points, while in Paris the CAC 40 dropped 2.35 percent to a four month low of 3,599.23 points, and London's FTSE 100 shed 0.96 percent to 6,244.21 points.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130417/european-stocks-hit-german-downgrade-rumours-comments" target="_blank">read more</a></p> Business Dow Jones Industrial Average Jens Weidmann Tesco AFP Wed, 17 Apr 2013 17:02:16 +0000 Agence France-Presse 5818530 at http://www.globalpost.com Euro drops on Bundesbank rate cut comments http://www.globalpost.com/dispatch/news/afp/130417/euro-drops-bundesbank-rate-cut-comments <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The euro dropped against the dollar Wednesday, reversing Tuesday's gains after Bundesbank comments on a possible eurozone interes rate cut and speculation swirled over a possible German rating downgrade.</p> <p>The euro dropped to $1.3033, at 2200 GMT, down from $1.3174 late Tuesday.</p> <p>The euro fell to 127.97 yen, from 128.52, while the dollar rose to 99.19 yen from 97.51.</p> <p>Comments from Bundesbank chief Jens Weidmann that the European Central Bank could cut interest rates below their current record lows if necessary sent the euro tumbling.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130417/euro-drops-bundesbank-rate-cut-comments" target="_blank">read more</a></p> Economy of Europe Europe Jens Weidmann AFP Wed, 17 Apr 2013 22:45:50 +0000 Agence France-Presse 5818830 at http://www.globalpost.com ECB's Weidmann tempers rate cut expectations http://www.globalpost.com/dispatch/news/thomson-reuters/130419/ecbs-weidmann-tempers-rate-cut-expectations <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>WASHINGTON (Reuters) - European Central Bank policymaker Jens Weidmann still views interest rates as appropriate, he said on Friday, adding that the economy would have to worsen before the ECB should consider another cut.</p> <p>Earlier this week the euro weakened after markets understood comments made by Weidmann, an arch-hawk on the ECB Governing Council, as an indication that he was open to cutting rates.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130419/ecbs-weidmann-tempers-rate-cut-expectations" target="_blank">read more</a></p> European Central Bank European Union Jens Weidmann Thomson Reuters Fri, 19 Apr 2013 15:15:42 +0000 Thomson Reuters 5820313 at http://www.globalpost.com Bundesbank confirms sent ECB report to German court http://www.globalpost.com/dispatch/news/thomson-reuters/130426/bundesbank-confirms-sent-ecb-report-german-court <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>FRANKFURT (Reuters) - The Bundesbank confirmed as genuine on Friday a leaked report prepared for Germany's Constitutional Court that criticises the European Central Bank's plan to buy the debt of highly indebted states.</p> <p>The 29-page report, dated December 21, was published by German newspaper Handelsblatt. In it, the German central bank warned that the purchase of stressed countries' sovereign debt could "compromise the independence of the central bank" and could be difficult to stop.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130426/bundesbank-confirms-sent-ecb-report-german-court" target="_blank">read more</a></p> Central bankers European Union Jens Weidmann Thomson Reuters Fri, 26 Apr 2013 10:31:02 +0000 Thomson Reuters 5825802 at http://www.globalpost.com Bundesbank confirms sent ECB report to German court http://www.globalpost.com/dispatch/news/thomson-reuters/130426/bundesbank-confirms-sent-ecb-report-german-court-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>FRANKFURT (Reuters) - The Bundesbank confirmed as genuine on Friday a leaked report prepared for Germany's Constitutional Court that criticises the European Central Bank's plan to buy the debt of highly indebted states.</p> <p>The 29-page report, dated December 21, was published by German newspaper Handelsblatt. In it, the German central bank warned that the purchase of stressed countries' sovereign debt could "compromise the independence of the central bank" and could be difficult to stop.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130426/bundesbank-confirms-sent-ecb-report-german-court-0" target="_blank">read more</a></p> Central bankers European Union Jens Weidmann Thomson Reuters Fri, 26 Apr 2013 10:31:52 +0000 Thomson Reuters 5825807 at http://www.globalpost.com ECB's forward guidance no revolution: Bundesbank chief http://www.globalpost.com/dispatch/news/afp/130711/ecbs-forward-guidance-no-revolution-bundesbank-chief <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The European Central Bank's clear signal that interest rates are not going to rise in the immediate future is not the mini-revolution that many observers say it is, Bundesbank President Jens Weidmann argued Thursday.</p> <p>"This is no historic turning point in monetary policy communication," Weidmann told a conference in Munich. </p> <p>"This assessment is no change in strategy. It's an attempt to explain our monetary policy direction in a way that is even easier to understand."</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130711/ecbs-forward-guidance-no-revolution-bundesbank-chief" target="_blank">read more</a></p> Central bankers European Union Jens Weidmann Technology AFP Thu, 11 Jul 2013 10:33:57 +0000 Agence France-Presse 5881279 at http://www.globalpost.com ECB's Weidmann warns against dangers of euro exit http://www.globalpost.com/dispatch/news/afp/130821/ecbs-weidmann-warns-against-dangers-euro-exit <div class="field field-type-text field-field-subhead"> <div class="field-items"> <div class="field-item odd"> European Central Bank council member and Bundesbank President Jens Weidmann warned in a magazine interview on Wednesday against the dangers of a country leaving the eurozone. </div> </div> </div> <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>European Central Bank council member and Bundesbank President Jens Weidmann warned in a magazine interview on Wednesday against the dangers of a country leaving the eurozone.</p> <p>&quot;What vexes me is how recklessly people invoke such a scenario,&quot; Weidmann told the German monthly Capital in a pre-release of an interview to be published on Thursday.</p> <p>An exit from the euro would have grave consequences for the countries affected, as well as for everyone else,&quot; the German central bank chief warned.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130821/ecbs-weidmann-warns-against-dangers-euro-exit" target="_blank">read more</a></p> Economy of the European Union European Union Jens Weidmann Jens Weidmann AFP Wed, 21 Aug 2013 11:01:00 +0000 Agence France-Presse 5914330 at http://www.globalpost.com Weidmann urges governments not to rely on ECB to solve crisis http://www.globalpost.com/dispatch/news/thomson-reuters/130826/weidmann-urges-governments-not-rely-ecb-solve-crisis <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>BERLIN (Reuters) - European Central Bank Governing Council member Jens Weidmann urged governments not to rely on the ECB to solve their problems, saying the central bank would do best by sticking to its mandate.</p> <p>Weidmann, who is also the president of the Bundesbank, also called for a cap on banks' sovereign bond holdings and a sufficient capital backing to help disentangle the close relationship between states and banks.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130826/weidmann-urges-governments-not-rely-ecb-solve-crisis" target="_blank">read more</a></p> Central bankers European Union Jens Weidmann Jens Weidmann Thomson Reuters Mon, 26 Aug 2013 13:16:53 +0000 Thomson Reuters 5917979 at http://www.globalpost.com Germany feeling pinch of low interest rates http://www.globalpost.com/dispatch/news/afp/131114/germany-feeling-pinch-low-interest-rates-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Banks and insurers in Germany are increasingly feeling the negative side-effects of ultra-low interest rates, the German central bank or Bundesbank warned on Thursday. </p> <p>"The low-interest-rate environment ... is placing a growing strain on the German financial system," said Bundesbank board member Andreas Dombret.</p> <p>"Until now, financial stability in Germany has benefited because low interest rates and generous liquidity supply helped ease tensions on the financial markets," the bank wrote in a new financial stability report.</p> <p>But now the tide was turning. </p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/131114/germany-feeling-pinch-low-interest-rates-0" target="_blank">read more</a></p> Economy of Europe European Union Jens Weidmann AFP Thu, 14 Nov 2013 14:32:28 +0000 Agence France-Presse 5989213 at http://www.globalpost.com Weidmann warns Germany against undoing economic reforms http://www.globalpost.com/dispatch/news/thomson-reuters/131120/weidmann-warns-germany-against-undoing-economic-reforms <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>BERLIN (Reuters) - European Central Bank governing council member Jens Weidmann - head of the Bundesbank - has warned politicians negotiating a new German coalition government against undoing reforms that have improved competitiveness in the past decade.</p> <p>Weidmann told Die Zeit weekly in an interview for Thursday's edition he believed Chancellor Angela Merkel and her prospective Social Democrat partners wanted to equip Germany for future challenges in education, social security and the labor market.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/131120/weidmann-warns-germany-against-undoing-economic-reforms" target="_blank">read more</a></p> Jens Weidmann Jewish surnames Weidmann Thomson Reuters Wed, 20 Nov 2013 11:54:22 +0000 Thomson Reuters 5994555 at http://www.globalpost.com No need for further rate cut talk for now http://www.globalpost.com/dispatch/news/afp/131120/no-need-further-rate-cut-talk-now <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Speculating about additional interest rate cuts by the European Central Bank makes no sense so soon after the surprise move earlier this month, Bundesbank chief Jens Weidmann said on Wednesday. </p> <p>Speaking to the weekly Die Zeit in an interview to be published on Thursday, Weidmann said: "The ECB's governing council has only just eased its monetary policy again. I don't think it makes sense to ring in the next round straight away." </p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/131120/no-need-further-rate-cut-talk-now" target="_blank">read more</a></p> Central bankers European Union Jens Weidmann AFP Wed, 20 Nov 2013 12:37:13 +0000 Agence France-Presse 5994600 at http://www.globalpost.com