Germany Calls for Yuan Talks, EU Leaders Debate Budget Cuts
Germany is aligning with the EU's tough stance on China by calling for 'Plaza Accord' style talks on the yuan. Meanwhile, EU leaders are debating budget cuts, with Germany's Chancellor rejecting Cyprus's proposal for the long-term budget.
The Story
Analyzing sources…
Source Diversity
Source Diversity
High (55/100)Sources
Germany hews EU’s tough China line with call for ‘Plaza Accord’ talks on yuan
German Chancellor Friedrich Merz signalled a major shift in Berlin’s economic relations with Beijing on Friday, saying the Chinese currency was undervalued by 30 per cent, well above the International Monetary Fund’s estimate of “about 16 per cent”. Speaking in Brussels after a European Council summit, Merz said China was “flooding markets” through the use of “high subsidies”, adding that “subsidising overcapacities” along with a “currency that isn’t convertible freely … is not...
By Finbarr Bermingham
Read full article →EU summit: Merz calls for cuts to 'too high' long-term budget
German Chancellor Friedrich Merz said the European Commission's long-term budget proposal for 2028 to 2034 was "far too high" and called for a new proposal.
Read full article →
