The Deauville Partnership was established in May 2011 with the aim of supporting transition processes – in particular, democratisation and economic development – in the Arab region. Germany chaired the Deauville Partnership for the past one-and-a-half years while it held the G7 presidency. Its chief aim during this time was to mobilise long-term support for reforms and growth.
Under Germany’s presidency from July 2014 to the end of 2015, the G7 intensified its cooperation, which is grounded in the values of freedom, democracy and the rule of law, and which is committed to an economic system based on sustainability, shared values and legal certainty. Read about the progress.
The German government is in favour of a fair international taxation system in which aggressive tax planning, tax evasion and money laundering have no place. Experience has shown that if we want to fight tax evasion successfully, we need a coordinated global approach. That is why German Finance Minister Wolfgang Schäuble has launched another global initiative against tax fraud, devious tax avoidance and money laundering, which will complement existing initiatives. This article describes the action plan in more detail.
The spring meetings of the International Monetary Fund (IMF) and World Bank in Washington provided the backdrop for meetings of the G20 finance ministers and central bank governors as well as the IMF’s International Monetary and Financial Committee on 14-16 April 2016. The discussions focussed on the state of the global economy and the international community’s response to the Panama Papers. Other topics included the global financial safety net and the IMF’s forthcoming quota review.
Preliminary findings from a report commissioned by the German Finance Ministry confirm: climate risks have the potential to affect financial markets. Making an orderly transition to climate-friendly investments would help to maintain the efficiency and stability of Germany’s financial markets. Conversely, abrupt carbon divestment could jeopardise the stability of financial markets.
An effective policy to make Germany a more attractive location for business and investment must focus primarily on the conditions for private investment; this is where there is the greatest potential to boost growth and employment. Germany is in a sound position with regard to private investment.
The Federal Ministry of Finance of Germany organized a conference on “New Priorities in European Spending – How to Shape the EU-Budget of the Future?“ in Berlin in July 2016. Professor Thiess Buettner summarizes the discussion in a personal note and concludes with some policy recommendations.
Workers who are posted to Germany from abroad must, during the time they are working in this country, be granted the terms of employment that apply in Germany – such as minimum wage and minimum holiday leave.