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Topic: Hans Eichel


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In the News (Sun 3 Jun 12)

  
  Opposition Grills Finance Minister | Business | Deutsche Welle | 20.02.2003   (Site not responding. Last check: 2007-10-18)
Hans Eichel stands accused of intentionally concealing Germany’s staggering 12 billion euro budgetary deficit and the fact that Germany would not be able to meet the terms of the stability and growth pact from the public during last year's election campaign for fear of jeopardizing his party’s chances at the polls.
He said that Eichel had concealed a budgetary deficit of 12 billion euro for eight months till the elections, a fact Altmaier said was a clear violation of his duties as laid down in the constitution as well as his oath of office.
Eichel also said that he felt it would have been irresponsible on his part to have prematurely voiced the fear in August last year that Germany would not be able to uphold the Stability Pact.
www.dw-world.de /popups/popup_printcontent/0,,783410,00.html   (865 words)

  
 International Economy, The: Germany's economic non-miracle: how Finance Minister Hans Eichel's policies have hurt the ...   (Site not responding. Last check: 2007-10-18)
Hans Eichel, Germany's Minister of Finance, thus emphasized the need for a reduction of the deficit-to-GDP ratio in his first days in office.
Eichel had initially boosted his public profile with a broad tax reform which combined a reduction of income tax rates with a reduction of the corporate tax.
Since Eichel was neither willing to strongly cut Germany's very high subsidies to ailing industries nor to raise value-added tax rates or impose taxes on wealth, the German government failed to combine the requirements of achieving fiscal consolidation and stimulating efficiency and economic growth, respectively.
www.findarticles.com /p/articles/mi_m2633/is_4_16/ai_92725513   (1319 words)

  
 CNN.com - Germany's Eichel lowers 2001, 2002 growth targets - Oct. 18, 2001
In an interview with ZDF television, Eichel said the economy would grow 0.75 percent this year, that is down from the previous official forecast for 2001 of two percent growth.
Eichel said the slowdown would force the government to rework its financial plan and did not rule out a rise in new borrowing, but said its goal of balancing its budget by 2006 was unchanged.
Eichel repeated he would do everything to avoid a rise in borrowing due to government policies, such as recently announced spending on security measures after the September 11 attacks in the United States, but added: "It's a different case when the economy does not go well, that you can't change."
edition.cnn.com /2001/BUSINESS/10/18/germany   (402 words)

  
 TIME Europe | Business: Architect of Reform | 8/28/2000
Eichel was the premier of the state of Hessen until he was voted out of office in 1999, while Schröder formerly served as premier of Lower Saxony.
Eichel recognized early on that CDU demands for huge tax cuts beyond what the government was proposing had alienated a lot of state governments that need the tax revenue to pay their bills.
Eichel told Time that his next priority is to reform Germany's pay-as-you-go pension system, which is heading for insolvency as the number of retirees grows while fewer young workers enter the job market.
www.time.com /time/europe/magazine/2000/0828/eichel.html   (1294 words)

  
 Dar Al Hayat   (Site not responding. Last check: 2007-10-18)
Germany's Finance Minister Hans Eichel said Saturday he and U.S. Treasury Secretary John Snow had agreed on a proposal to write off as much as 80% of Iraq's debt, capping a U.S. push for debt forgiveness.
Eichel said the agreement "created the basis on which the forgiveness of Iraqi debt can be settled mutually in the Paris Club," a group of creditor nations owed about $42 billion by Iraq.
Eichel said 30 percent of Iraq's debt would be written off immediately, another 30 percent in a second stage "tied to a program of the International Monetary Fund" and a further 20% "linked to the success of this program," he said.
english.daralhayat.com /business/11-2004/20041120-APAP_1109061.txt/story.html   (906 words)

  
 EIB: Forum 2000 - Hans Eichel   (Site not responding. Last check: 2007-10-18)
From 1975 to 1991, Mr Eichel was Mayor of the City of Kassel.
Before starting his political career, Hans Eichel was a secondary school teacher in Kassel.
Hans Eichel was born in Kassel in 1941.
www.eib.org /forum/archives/2000/cv_he.htm   (133 words)

  
 Eichel - U.S. will one day realise pain of weak dollar
BERLIN - German Finance Minister Hans Eichel was quoted on Saturday saying the U.S. government would one day realise that the rapid rise of the euro is also endangering the U.S. economy -- and then be ready to act.
In an interview with Hessicher Rundfunk radio, Eichel said "and then America will also be ready to take actions" once the U.S. government realises the euro's appreciation is hurting their own economy as well as others.
Eichel added in the interview to be broadcast later on Saturday that he expects the U.S. government to take energetic steps against its high budget deficits that are a main cause of the euro's rise against the dollar.
www.infowars.com /articles/economy/eichel_pain_of_weak_dollar.htm   (229 words)

  
 EMBASSY OF GREECE: PRESS OFFICE - News Flash   (Site not responding. Last check: 2007-10-18)
Speaking to reporters, after a meeting in Athens, German Finance Minister Hans Eichel said that a large group of German investors would visit Greece this year to examine investment opportunities in the country and to discuss joint investments in the Balkans, an area that interests the European Union.
Eichel noted that member-states should make a joint effort to promote single rules and regulations in economic policy and especially in tax policy.
Eichel predicted that by the end of 2002 the eurozone economy could reach growth rates of 3.0 percent.
www.greekembassy.org /press/newsflash/2002/March/nflash0308.html   (323 words)

  
 TheStreet.com: German Cabinet Warms to Reforms
The proposals, drawn up by new Finance Minister Hans Eichel and passed by the cabinet Wednesday, do, however, represent an important first stab at the structural reforms Europe's largest economy so desperately needs.
While some may quibble that his plan perhaps doesn't go far enough, in a country where change is a dirty word and reform is viewed as a threat to the welfare state, anything more ambitious would likely have been a nonstarter.
Eichel is a political Felix Unger, meticulously ensuring the government's finances are neatly folded and organized.
www.thestreet.com /int/euromarkets/759588.html   (562 words)

  
 Recession-hit Germany   (Site not responding. Last check: 2007-10-18)
Hans Eichel, the German finance minister said he was as surprised as anyone at the fall.
Mr Eichel now faces an uphill struggle to return the country to the confines of the EU stability and growth pact, which it looks almost certain to breach next year as well.
Germany's finance minister, Hans Eichel, who has struggled to stick to the rules despite unemployment rising to 4.6m, effectively threw in the towel over the weekend.
www.m4radio.com /main/messageboard/226.html   (940 words)

  
 G20 opposes "abrupt changes" in forex, oil - INQ7.net   (Site not responding. Last check: 2007-10-18)
Eichel, the host of the G20 meeting of finance ministers and central bank governors, also announced that the Paris Club, grouping 19 industrialized nations, had agreed to forgive 80 percent of Iraqi debt.
Eichel reaffirmed in the meeting's opening address that a major goal of the G20 was to combat the threats against the international financial system.
Eichel has expressed irritation at the debt-burdened South American country's pullout, given that the problems of indebtedness were a main point on the agenda.
news.inq7.net /world/index.php?index=1&story_id=18782   (728 words)

  
 [No title]   (Site not responding. Last check: 2007-10-18)
In a statement made on September 19 Finance Minister Hans Eichel said there was still a considerable need both nationally and internationally to detect and put a stop to covert money flowing to terrorist and other criminal groups.
Hans Eichel referred to the Fourth Financial Market Promotion Bill, which meant that in future banks will have to create a modern risk-management system with computer search systems, to be imposed through the bank supervisory authority to ensure that it will be possible to check the business relations between banks and their customers.
Eichel noted that it is only with computer searches that it is possible to filter out those accounts where there are irregularities in money movements.
www.law.wits.ac.za /salc/report/pr105-ch11.doc   (2900 words)

  
 "Difficult" to bring German defict back within EU limits next year: Eichel - EUbusiness - EU law, politics and finance   (Site not responding. Last check: 2007-10-18)
German Finance Minister Hans Eichel warned in a television interview on Thursday that it would be "difficult" for Germany to bring its soaring public deficit back within EU limits next year.
Eichel acknowledged there was a risk that the federal budget could exceed forecasts next year if revenues fell short of expectations.
All of the leading economic research institutes in Germany and even the Bundesbank are expecting the German deficit ratio to exceed the 3.0-percent ceiling again next year for third year in a row, possibly triggering heavy financial sanctions from the EU.
www.eubusiness.com /Germany/030904112804.6a3h8brc   (442 words)

  
 As Angie Ascends, Eichel's Future Uncertain | Germany | Deutsche Welle | 10.10.2005   (Site not responding. Last check: 2007-10-18)
Eichel always tried to put positive spin on dismal statistics, but in May he admitted it was becoming "more and more difficult" to bring the deficit back within EU stability limits.
One of Eichel’s earliest tasks was leading Germany through the switch from its national currency, the deutschmark, to the euro.
German Finance Minister Eichel called for the euro's "brutal" rise versus the dollar to be put on the agenda of the summit of G20 countries in Berlin this weekend amid concerns the greenback's slide could hit EU growth.
www.dw-world.de /dw/article/0,1564,1736378,00.html   (787 words)

  
 Eichel and Sinha face similar problems
Mr Hans Eichel, the German Finance Minister, is in the same boat.
Recently, Mr Eichel made a statement protesting against the rigid requirements of tough fiscal deficit targets imposed on Germany as also on other European Union countries by the Maastricht Treaty.
While it is true that Mr Eichel did make a diplomatic withdrawal later from his initial objections to the harsh requirements of fiscal stability, this was consequent on pressures from Brussels.
www.thehindubusinessline.com /2001/09/03/stories/04032002.htm   (1349 words)

  
 Wake-Up Call in Germany (int'l edition)
Finance Minister Hans Eichel is drafting a package of tax and spending reforms to be released this month.
Eichel is also expected to push for a corporate tax cut to 35% from 45% in 2001, which could give companies a net break of $6 billion.
Although both Eichel and Hombach are Socialists, they understand that the only way to create jobs now is to crash through the thicket of regulations that makes it so hard for companies to hire workers.
www.businessweek.com /@@xNuEIGcQlXdodwYA/1999/99_26/b3635216.htm   (995 words)

  
 BNA International - International Information for International Business   (Site not responding. Last check: 2007-10-18)
German Finance Minister Hans Eichel has told a national newspaper that he is currently working on a new plan to simplify Germany’s complex corporate taxation structure which will bring about a single income tax rate for businesses.
Eichel also told Handelsblatt that he was in favour of a new form of European corporate tax harmonisation whereby a multinational firm's profits within the entire European Union would be aggregated and then divided according to the level of the firm's activities in each country.
According to Eichel, this would allow international businesses to be taxed at the national level, whilst curtailing their ability to use transfer pricing to reduce taxation.
www.bnai.com /story.aspx?storyid=18897   (312 words)

  
 CNN.com - Firms urged to pay Nazi slave fund - March 8, 2001
Eichel told ZDF television in an interview that the government would actually pay some three-quarters of the total, due to tax breaks for companies, as compensation to the fund.
Berlin agreed last year to set up the 10 billion mark ($4.8 billion) compensation fund -- half of which is to be paid by the government and half by German industry -- which slave labourers charge profited from their toil under the Nazi regime.
Eichel also said in the interview that the government had already made their money available last year and that he could not understand why there were further delays to the payments.
edition.cnn.com /2001/WORLD/europe/germany/03/08/holocaust.payments   (374 words)

  
 Germany Online: Information Services: Publications: The Week in Germany   (Site not responding. Last check: 2007-10-18)
German finance minister Hans Eichel acknowledged over the weekend that the federal government will be unable to meet a long-held goal of balancing its budget by 2006 and that it will overshoot the euro zone's deficit-to-GDP threshold of 3% this year.
However, on Monday (May 12), Eichel told reporters in Berlin that he was determined to "do everything" to bring the nation's budget deficit below 3% of GDP in 2004.
Eichel also emphasized that the government remains committed to its cost-cutting objectives, even if it may take two or three years more to achieve them.
www.germany-info.org /relaunch/info/publications/week/2003/030516/economy1.html   (443 words)

  
 Germany Online: Information Services: Publications: The Week in Germany   (Site not responding. Last check: 2007-10-18)
Eichel's plan also calls for eliminating tax disadvantages for foreign investment funds, improving investor protection and streamlining existing regulations.
Eichel said the plan is also tied in closely with the creation of a uniform European financial market that is to result from implementation in 2005 of an EU "action plan" for the financial services industry.
A major feature of Eichel's plan is the introduction of hedge funds, a higher-risk form of investment that allows investors to "bet" on the performances of equities, currencies or bonds.
www.germany-info.org /relaunch/info/publications/week/2003/030307/economy1.html   (387 words)

  
 BBC News | The Economy | The European that Germany needs
Hans Eichel, Germany's new finance minister, has been described as a grey man, but as the BBC's Rodney Smith suggests he may be just the man Germany and Europe needs.
Hans Eichel, the German finance minister, has told the German daily newspaper, Frankfurter Allgemeine Zeitung, that a compromise is necessary on negotiations towards a uniform EuropeanUnion Witholding Tax so that the interests of the City of London (the financial heart of the British capital) may be taken into account.
Mr Eichel's comment was that an arrangement which gave minimum taxation with exceptions was better than no arrangement at all.
news.bbc.co.uk /1/hi/business/the_economy/361333.stm   (351 words)

  
 Discipline is needed to save euro, say Germans
As the euro hit new lows and headed for parity with the dollar, Hans Eichel, the German Finance Minister, said the flagging currency would be "punished" still more by the markets unless financial discipline was imposed.
Mr Eichel's comments also served as a warning that other countries would not be given such lenient treatment.
At a meeting of EU finance ministers in Brussels, Mr Eichel said countries that had adopted the single currency now had to recognise their joint responsibilities.
www.telegraph.co.uk /htmlContent.jhtml?html=/archive/1999/07/13/weur13.html   (575 words)

  
 BBC News | EUROPE | German minister has his praises sung
German Finance Minister Hans Eichel has commissioned a pop song about himself to help boost his popularity.
He was once described as "a paperclip with glasses" and a man with the charm of a parking meter but is nevertheless seen as a possible successor to Chancellor Gerhard Schroeder.
Mr Eichel has built a reputation as the nation's wise though cautious accountant.
news.bbc.co.uk /hi/english/world/europe/newsid_1505000/1505138.stm   (414 words)

  
 International Economy, The: German vs. German: a strange new personal war has broken out between IMF head Horst Kohler ...   (Site not responding. Last check: 2007-10-18)
Eichel accused Kohler and the IMF of being too harsh on Germany and the Eurozone and too soft on the risks and policy failures of the United States.
In this position, Kohler played a critical role in defending the system of public guarantees, at the same time as the IMF and the EU Commission were criticizing it for not giving private-sector banks a level playing field.
As it turned out, it was the failed IMF candidate Koch-Weser who--as Eichel's deputy--was forced by EU Commissioner Mario Monti into a multi-year agreement under which Germany's Landesbanken are phasing out their state guaranty structures.
www.findarticles.com /p/articles/mi_m2633/is_3_17/ai_106423907   (1211 words)

  
 BNA International - International Information for International Business   (Site not responding. Last check: 2007-10-18)
German finance minister Hans Eichel admitted yesterday that the government has been disappointed by the lacklustre response to the country’s tax amnesty on undeclared foreign assets.
The scheme, which Eichel hoped would bring in some EUR5 billion in tax revenues and help plug the country’s budget deficit, has yielded a relatively minor EUR378 million since its commencement on 1st January.
Speaking at a tax conference yesterday, Eichel conceded that these results are “far behind expectations", although warning that foreign account holders would not get a second “bridge to tax honesty”, as the programme has been dubbed.
www.bnai.com /story.aspx?storyid=17798   (257 words)

  
 rediff.com: Climate for German investments in India positive: Eichel   (Site not responding. Last check: 2007-10-18)
German Finance Minister Hans Eichel has said the climate in India for German investment was now "favourable", but felt the flow could accelerate if economic reforms are pursued vigorously to remove infrastructure bottlenecks.
However, transport, ports, power and highways are still major bottlenecks in India, he told reporters, adding that these issues needed to be addressed immediately by the Indian government to encourage foreign investment further like China.
Eichel, who had a detailed meeting with Indian Finance Minister Yashwant Sinha, said though central government was pursuing vigorously the reform process, what was important was that the reforms at the state level and local levels needed to be pursued with similar zeal.
www.rediff.com /money/2001/jan/12german.htm   (240 words)

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