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Putin's goal is not Ukraine but Europe, warns German finance minister

Germany will continue its support for Ukraine as a bulwark against the ambitions of Russian President Vladimir Putin, but huge increases in spending lie ahead, Finance Minister Christian Lindner told a party conference in Berlin on Saturday. "We are supporting Ukraine because it is our first line of defence against Putin," said Lindner, who is from the pro-business Free Democrats(FDP) - a junior partner in Germany's ruling coalition led by Social Democrat Olaf Scholz. Although the Russian leader

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IMF predicts 'soft landing' for European economy despite challenges

The European economy is well placed to bounce back from years of crisis, a leading International Monetary Fund figure said on Friday, while warning of disruptions to the continent's recovery. The IMF is "forecasting a soft landing," said Alfred Kammer, the director of the agency's European Department, in remarks at the spring meeting of the IMF and World Bank in Washington. "Policymakers did a remarkable job" in responding to the economic shocks brought on by the pandemic and Russia's invasion o

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G20 finance chiefs fail to reach joint statement amid Gaza, Ukraine debate

SAO PAULO (Reuters) -Finance leaders from the world's largest economies failed to agree on a joint statement as they wrapped up talks on Thursday, with divisions over the wars in Gaza and Ukraine overshadowing efforts to forge a consensus on global economic development. Brazil, which hosted finance ministers and central bank chiefs from the Group of Twenty (G20) major economies, issued its own summary in lieu of a shared communique.

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G7 finance meeting marred by divisions over seizing Russian assets

French Finance Minister Bruno Le Maire on Wednesday publicly challenged U.S. Treasury Secretary Janet Yellen's view that it would be legal to monetize some $300 billion in frozen Russian assets, revealing deep divisions among Group of Seven countries. Le Maire, speaking after a G7 finance officials meeting, rejected the U.S. position outright and said France was convinced that there was no sufficient basis in international law to proceed, and further work was required. He said any such moves should be fully underpinned by international law and required the support of all members of the Group of 20 major economies - which includes Russia, China and other countries that have been critical of the United States.

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German minister: ECB makes Frankfurt ideal anti-money laundering base

Frankfurt was the right choice to host the European Union's new anti-money laundering agency (AMLA) because it's also the home of the European Central Bank, Germany's finance minister said on Friday. "Our strong argument was that proximity to the European Central Bank could be advantageous for the work of the new authority," Christian Lindner told reporters in Ghent, Belgium. "Obviously our arguments have convinced many." Frankfurt was chosen to host the new agency by representatives from the EU

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Frankfurt wins vote to host new EU anti-money laundering agency

The new EU anti-money laundering agency (AMLA) is to be in Frankfurt, representatives from the EU member states and the European Parliament agreed on Thursday in Brussels. Frankfurt beat competition from Paris, Brussels, Madrid, Dublin, Riga, Vilnius, Vienna and Rome to host the new EU agency. German Finance Minister Christian Lindner pushed hard for Frankfurt to host the agency. He told a public hearing in the parliament in January that in Frankfurt, the agency would everything it needs to be o

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Germany may need to exceed 2% NATO spending target, defence minister says

Germany may need to spend more than 2% of its gross domestic product on defence to deter Russia in the coming years, German Defence Minister Boris Pistorius said on Saturday. Germany has met the 2% NATO alliance target for the first time since the end of the Cold War, the country's defence ministry said earlier this week, as spending ramped up after Russia's invasion of Ukraine in 2022. Pistorius's comments come after German Finance Minister Christian Lindner said on Friday that it would be "a challenge" for Germany to maintain defence spending of 2% of GDP.

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Anxious European leaders fret over US reliability at security talks

European leaders called on Friday for greater unity in developing the continent's security and defence capacities as former US president Donald Trump's potential return to the White House rattles Washington's EU and NATO allies. Trump's shadow loomed large on the first day of the 60th edition of the Munich Security Conference, an annual gathering in the southern German city of top political and defence officials to debate international security policy. The main topics on the three-day conference

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NATO chief warns of danger in dividing US, Europe

NATO Secretary-General Jens Stoltenberg warned allies Thursday about rising fears caused by American politics potentially dividing the U.S. and Europe, following former President Trump’s recent comments dissing the alliance. Between American hesitancy to fund Ukraine aid due to partisan infighting and continued comments from Trump threatening to weaken the alliance, Stoltenberg encouraged European members to…

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Trump threats spark new nuclear arms debate in Germany

Two years after its about-turn on defence policy in response to the Russian invasion of Ukraine, Germany is starting to rethink another national taboo: nuclear weapons.Previously reluctant to engage in foreign military commitments following World War Two, Germany changed course after Russia's 2022 invasion, becoming one of the biggest contributors of weapons to Ukraine.

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