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Germany

Unlimited guarantee promised for all German accounts

The German government has offered an unlimited guarantee for all private bank deposits, a finance ministry spokesman told AFP on Sunday, in a bid to prevent a panic run on banks in Europe's biggest economy.

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Germany

Germany rescues Hypo Real Estate

The German government, the Bundesbank central bank and market regulators have agreed with the private banking sector a new €50-billion rescue package for stricken bank Hypo Real Estate, the finance ministry said on Sunday evening. Earlier in the day, the government had announced that all German savings would be guaranteed if banks failed.

Merkel pushes bank rescue to avert wider financial crisis
Germany

Merkel pushes bank rescue to avert wider financial crisis

Chancellor Angela Merkel said on Sunday her government was scrambling to salvage a rescue plan for Hypo Real Estate, saying she would not allow problems at the stricken commercial property lender to infect the entire banking system.

Report says Berlin a hub for Vietnamese traffickers
Germany

Report says Berlin a hub for Vietnamese traffickers

Berlin has developed into a European centre for Vietnamese human traffickers, prompting German and French authorities to set up a joint group to combat crime, a German magazine has reported.

Six million visit Munich’s beer bash
Germany

Six million visit Munich’s beer bash

Some six million people braved rain and cool temperatures to hit the Wiesn and chug 6.6 million pitcher-sized mugs of beer at Munich’s 175th Oktoberfest which ended on Sunday.

Retail giant to cut ‘hundreds of jobs’ in Germany
Germany

Retail giant to cut ‘hundreds of jobs’ in Germany

Germany's leading retailer Metro is to slash "hundreds of jobs" across the country as part of a radical restructuring plan, according to a newspaper report.

Alliance gears up for next election
Sweden

Alliance gears up for next election

The leaders of the parties in Sweden’s governing Alliance are heading to Varberg in western Sweden in an attempt to repeat the approach – adopted by them in 2004 – that led to victory in parliamentary elections two years later.

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Sweden

Burglar assaults 79-year-old

A 79-year-old man was assaulted by a burglar early on Sunday morning in the town of Åmål in central Sweden.

Storms abate in western Sweden
Sweden

Storms abate in western Sweden

Last night's near hurricane force winds off the west coast of Sweden showed signs of letting up this morning.

Klinsmann admits lacklustre Bayern deserve fans’ boos
Germany

Klinsmann admits lacklustre Bayern deserve fans’ boos

Bayern Munich coach Jürgen Klinsmann said he was hurt to hear his side jeered by their own fans, but admitted his team deserved it after leaking two late goals in Saturday's 3-3 draw with Bochum.

Minister invokes Hitler to warn of finance crisis dangers
Germany

Minister invokes Hitler to warn of finance crisis dangers

German Interior Minister Wolfgang Schäuble has warned in a magazine interview that the global financial crisis could have political repercussions, noting that Adolf Hitler rose to power following the 1929 Wall Street crash.

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Sweden

Royal share losses reach 10 million kronor

The stock market downturn is punishing Swedish shareholders, whose shares have tumbled in value in just the last few months.

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Sweden

Fewer Iraqi children granted asylum

Migrationsverket (Swedish Migration Board) has turned down 111 of 297 residence permit applications for Iraqi children.

Bailout for Germany’s Hypo Real Estate collapses
Germany

Bailout for Germany’s Hypo Real Estate collapses

Hypo Real Estate, Germany’s stricken commercial property lender, said it's fighting for survival after a 35-billion-euro government-backed rescue plan for the company fell apart.