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Out of Ammo? The Eroding Power of Central Banks

Since the financial crisis, central banks have slashed interest rates, purchased vast quantities of sovereign bonds and bailed out banks. Now, though, their influence appears to be on the wane with measures producing paltry results. Do they still have control? Von Michael Sauga und Anne Seith

The Eroding Power of Central Banks - Boris Roessler/ dpa

Not Fit for the Next Crisis Europe's Brittle Banking Union

German Finance Minister Wolfgang Schäuble has negotiated a European banking union suited perfectly to his country's tastes. It looks like a victory, but it could prove to be very expensive if Europe or Germany face another financial crisis. Von Gregor Peter Schmitz

Europe's Brittle Banking Union - Daniel Reinhardt/ dpa

Dispute with ECB European Parliament Delays Banking Union Vote

The European Parliament has delayed an important vote on the euro zone banking union that will see the most important financial institutions placed under the supervisory of the European Central Bank. Members of parliament want greater ECB accountability.

European Parliament Delays Banking Union Vote - Handout/ Getty Images

Interim Profit Down Deutsche Bank Suffers New Setback

Deutsche Bank reported lower-than-expected profits for the second quarter on Tuesday, underperforming US rivals like Goldman Sachs and Morgan Stanley. Earnings suffered because more funds went to covering the costs of lawsuits against the bank.

Deutsche Bank Suffers New Setback - Michael Probst/ AP

Junk Soup UBS Unloaded Rotten Securities on Leipzig

An investigation by the United States Securities and Exchange Commission has revealed for the first time the methods with which the Swiss investment bank UBS sought to palm off bad debt securities on German municipalities. It succeeded in Leipzig.

UBS Unloaded Rotten Securities on Leipzig - ? Brendan McDermid / Reuters/ REUTERS

'Taking Responsibility' German Banking Giant Quits Food Speculation

The financial sector continues to insist that the controversial practice of speculating on agricultural commodities does not cause high food prices. But some German banks disagree. Now DZ Bank, the country's fourth largest financial institution, has announced it has stopped the practice. Von Christian Teevs

German Banking Giant Quits Food Speculation - DPA/Claas

Excess Under Siege Europe Gains Momentum against Corporate Greed

Moves to contain salary excesses in big business by the EU and Switzerland have emboldened social democrats across Europe, who are calling for battle against greed in a financial world "gone wild." Von Stefan Simons und Carsten Volkery

Europe Gains Momentum against Corporate Greed - Andy Rain/ dpa

World From Berlin 'Other Countries Should Heed Swiss Pay Cap for Execs'

Swiss voters have overwhelmingly approved strict controls on executive pay, a result praised by German politicians. Editorialists hope it will pave the way for new anti-greed legislation across Europe.

'Other Countries Should Heed Swiss Pay Cap for Execs' - MICHAEL BUHOLZER/ REUTERS

World from Berlin 'Cap On Banker Bonuses Is a Serious Blunder'

The European Parliament moved this week to cap banker bonuses. But the plan faces stiff resistance in Britain, Europe's financial capital, and even German commentators question whether it will stop banking excesses.

'Cap On Banker Bonuses Is a Serious Blunder' - Andy Rain/ dpa

One Year's Salary Europe Caps Banker Bonuses

In a bid to address widespread public outrage over greed in the financial sector, European officials have agreed to legislation capping bankers' bonuses at a maximum of a year's salary. Great Britain fought to prevent the measure, but failed to rally enough support.

Europe Caps Banker Bonuses - Corbis

Risks and Rewards Deutsche Bank Returns to Commodities Speculation

Many financial institutions and multinational organizations view speculating on food commodities as a dangerous game and a contributor to global hunger. Despite its bruised reputation, Deutsche Bank is leaping back into the business. Von Martin Hesse, Michaela Schießl und Anne Seith

Deutsche Bank Returns to Commodities Speculation - JOHN GRESS/ REUTERS

Interview with UBS Chairman Axel Weber 'We Have Learned Our Lesson'

In a SPIEGEL interview, UBS board chairman Axel Weber says his bank is better prepared than most others for new, stricter capital requirements. UBS has learned from the mistakes of the financial crisis, he says, and explains why the Swiss financial giant has moved away from investment banking.

'We Have Learned Our Lesson' - ARND WIEGMANN/ REUTERS

Proposed Split of Large Institutions Fight Looms Over EU Plans for Bank Reform

Until recently, calls to forcibly split up European banks were dismissed as a radical leftist idea. Now even an EU panel of experts is recommending dividing up dangerous financial giants. But the banking lobby, which would face major cost increases as a result, has the power to water down the ideas. Von Stefan Kaiser

Fight Looms Over EU Plans for Bank Reform - Arne Dedert/ dpa

Splitting the Financial Giants It's Time To Break Up Massive Banks!

For decades, America's Glass-Steagall Act ensured a clean division of commercial and investment banking. But its repeal helped pave the way for the global financial crisis. Today politicians should restore the dual banking system to help ensure that banks that are too big to fail do not exist in the future. Von Georg Mascolo

It's Time To Break Up Massive Banks! - BEN STANSALL/ AFP

Ackermann's Swan Song Deutsche Bank Moves Toward an Uncertain Future

Outgoing Deutsche Bank CEO Josef Ackermann presided over his final annual press conference on Thursday. His legacy will be that of transforming Germany's largest financial institution into a profit machine. But in the end, he lost control of the specters he unleashed. Von Stefan Kaiser

Deutsche Bank Moves Toward an Uncertain Future - DANIEL ROLAND/ AFP

Creative Capital Commerzbank Seeks To Avoid Nationalization

Germany's second largest bank is looking at other options to increase its capital by 5.3 billion euros in order to avoid another government bailout. This week, the bank must submit plans to increase its capital to the European Banking Authority.

Commerzbank Seeks To Avoid Nationalization - dapd

Taking on the Speculators What Would a European Tobin Tax Really Mean?

Angela Merkel and Nicolas Sarkozy are pressing forward with plans to introduce a financial transaction tax in the EU -- if necessary without Britain, home to Europe's largest financial center. Critics believe it will cause an exodus of the industry from the euro zone. But a closer look at the proposal suggests the worst wouldn't necessarily come true. Von Stefan Kaiser

What Would a European Tobin Tax Really Mean? - Fredrik Von Erichsen/ dpa

German Central Bank Official 'Britain Must Be Aware of its Importance in the EU'

The world continues to demand that Europe find a solution for its ongoing debt crisis. But in an interview with SPIEGEL, senior Bundesbank official Andreas Dombret says that American investors are being too impatient. He also demands that the UK do its part and reiterates his bank's position that the ECB should not become a lender of last resort.

'Britain Must Be Aware of its Importance in the EU' - dapd

Road to the G-20 Europe May Act Alone on Financial Transaction Tax

German Finance Minister Wolfgang Schäuble said on Monday that the EU should launch a financial transactions tax on its own if the G-20 summit this week can't agree on such a levy. A draft communiqué obtained by SPIEGEL shows the G-20 plans far-reaching reforms of the global financial sector.

Europe May Act Alone on Financial Transaction Tax - Boris Roessler/ dpa

The Good Bankers Battling the Financial Lobby in Brussels

For the first time, the estimated 700 financial industry lobbyists working in Brussels can now expect to meet with some resistance. Though extremely outnumbered, the new organization Finance Watch is preparing to confront them head-on -- with a former industry insider at its helm. Von Susanne Amann

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