Angela Merkel

German banks win customers amid financial crisis

German Chancellor Angela MerkelFrankfurt - German banks across the board have been steadily winning new customers as the financial crisis mounts, statistics released Thursday show.

Rather than withdrawing money from banks to hide under the mattress, Germans appear to regard banks as the safest place, especially after a promise last month by Chancellor Angela Merkel that not one euro in banks will be lost.

The country's top commercial bank, Deutsche Bank, said Thursday on its website its customer base had grown net by 200,000 since the start of the year to nearly 10 million.

Merkel steps up calls for new global financial market rules

Merkel urges better crisis management for financial sector Berlin - German Chancellor Angela Merkel warned Wednesday that Europe's biggest economy was facing tough times and stepped up calls on for new rules to regulate the crisis-hit world financial system.

"Germany is strong," she told the German parliament. "However, Germany will go through a difficult period."

"We have to expect that economic growth in Germany will slow," the chancellor said but she went on to say that it was unlikely that the downturn would result in a sustained economic slump.

Merkel says legislation to take effect Friday

Angela MarkelBerlin- Legislation on a r

German cabinet backs rescue plan

Merkel urges better crisis management for financial sector Berlin - Chancellor Angela Merkel's cabinet approved on Monday a financial rescue package involving a sum of 470 billion euros (644 billion dollars), sources in Berlin said.

The German rescue package for banks assumes that 5 per cent of a federal guarantee will ultimately be lost, according provisions of the legislation leaked Monday to Deutsche Presse-Agentur dpa.

The guarantee will have a maximum volume of 400 billion euros, meaning 20 billion euros is likely to be lost.

Angela Merkel rushes approvals for G7 rescue plan Monday

Chancellor Angela MerkelBerlin - Berlin was preparing Monday to announce details of how Germany is to commit hundreds of billions of euros to a rescue plan for the world economic system, with Chancellor Angela Merkel expected to speak to the media in the afternoon.

Sources said she and the two leading Social Democrats in her coalition government had agreed in the night on the basics of the plan, with the next move being to discuss it in cabinet.

Merkel seeks Germans' backing for bank rescue plan

Berlin - Chancellor Angela Merkel sought backing Sunday from sceptical Germans for a costly worldwide bank-rescue plan.

In remarks to a Sunday newspaper, Bild am Sonntag, she said, "Only action by the state can restore necessary confidence now."

Before a meeting Sunday in Paris of the 15 eurozone leaders, she said that the intervention had to be internationally coordinated.

"We are not doing this for the sake of the banks but in the interests of the people," she told the Sunday version of the mass- circulation newspaper Bild.

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