Centre-left SPD and their candidate, Olaf Scholz, secured a narrow win in the German election which saw Angela Merkel’s centre-right CDU party and their candidate, Armin Laschet, plunge to a historic low. Parties will embark on “exploratory talks” to form a government, with a three-way coalition considered the most likely.
German economy minister Peter Altmaier believes Germany is in an ‘unexpectedly fast’ V-shaped recovery. Despite Coronavirus fears global markets have soared to record highs and economies are showing some life as PMI shows. The German government revised it’ 2020 GDP forecast to -5.8% from -6.3% previously. German government revises 2020-21 GDP forecasts 2020 GDP forecast revised to -5.8%; previously -6.3% 2021 GDP forecast revised to +4.4%; previously +5.2% Altmaier also says that Germany has managed to preserve the essence of … Continue reading “Germany Economy in an ‘Unexpectedly Fast’ V-Shaped Recovery”
With the Coronavirus fears crashing global markets and economies Germany is weighing up easing counter-cyclical capital buffers for banks. Deutsche Bank shares have dropped to fresh multi-decade lows as default probability rises.
Australia in an unprecedented move announced it is preparing criminal cartel charges against ANZ and underwriters Deutsche Bank and Citigroup over a 2015 $2.3 billion share issue. Potentially institutional capital raisings in global capital markets will be affected.