Angela Merkel wasn’t in a hurry to inflict economic pain on Russia. Cautious, pragmatic and mindful of German business ties to the country, the chancellor tried to defuse the Ukraine crisis through back-channel diplomacy and frequent phone calls with Russian President Vladimir Putin.
Chancellor Angela Merkel’s cabinet backed changes to Germany’s clean-energy law to try to slow gains in power prices already the second-highest in the European Union and reduce dependence on fossil fuels.
The European Union, under pressure from Germany, will allow more generous state aid to 65 energy- intensive industries than earlier planned to help with the cost of boosting renewable sources, according to three people with knowledge of the matter.
President Francois Hollande’s campaign to slow the pace of France’s deficit reduction effort begins today as the new ministerial duo responsible for the economy and finance court their German counterparts in Berlin.
Chancellor Angela Merkel may ease proposed cuts in aid for wind power as she seeks to win backing for her green-energy plans from German states concerned about job losses, a state premier involved in the talks said.
Chancellor Angela Merkel’s deputy chided Siemens AG Chief Executive Officer Joe Kaeser for traveling to Moscow, saying German companies shouldn’t sell out European values to protect business with Russia.