Daily Archives: September 29, 2010

EU / Regling : EFSF is in coming years not well used

FRANKFURT (Dow Jones ) – The EU Stability Fund ( EFSF ) is used according to estimates by Klaus Regling not in the medium term well . It is unlikely that in the coming years , one or more countries of the euro area would make an application for financial assistance.

The head of the Euro – shield company said Tuesday at a ceremony to mark the tenth anniversary of the Federal Finance Agency in Frankfurt.
The euro countries would do everything in their power to not access the EFSF have said Regling . Leave it to the "strict conditions and relatively high interest rates . " The 440- billion – EUR – heavy stability fund was set up by the 16 euro countries to countries with financial problems to help in the currency area.
If the EU Stability Fund but must pay support, Regling according bonds are issued . Rather, wanted the EFSF to "concentrate known bonds with a fixed coupon "to the extent possible, on the issue. The Federal Finance Agency will issue the bonds in the EFSF .
To the criticism that the EU Stability Fund is financed by taxpayers, said the head of the Euro – shield – society: " We do not accept gifts . " It is likely that the government will earn from their involvement in EFSF a profit, as that a loss would create .

-By Nina Koeppen , Dow Jones Newswires , +49 ( 0) 69 29725 300
konjunktur.de @ dowjones.com
DJG / DJN / kth / apo / dok

Merkel : Goals of the energy plan ambitious, but achievable

2010-09-28_MerkelWesterwelle_ddp BERLIN (Dow Jones) – Chancellor Angela Merkel has "ambitious "new energy concept of the government on Tuesday as described , but also pointed out that the objective in the government’s plans are " achievable " will . (Photo : Reuters )

"I admit it: Our goals are ambitious, " Merkel said at the Federation of German Industries (BDI ) organized " Day of German Industry in Berlin.
"However, they have been ambitious in recent years in Germany already , "said the Chancellor. Merkel announced that the federal government would use "natural" that levies in force in Europe and the world energy policy " reliable framework " so that Germany can not be the only country that would be implemented in the ambitious targets.
Explicitly said to the Chancellor of the industry to discuss the parliamentary process once again on possible changes to the criticized burden on energy-intensive businesses . " I wish to say that we talk about the rules again, " she said. It is " not our intention " to endanger the good employment figures by something being done that jobs would cost .
BDI President Hans -Peter Keitel, who has previously spoken at the event with new tax burdens on business, as envisaged by the government in the environmental tax, and emphasizes a number of assumptions went into the concept of " beyond what our companies are currently at acceptable make Effort can . " Overall, Keitel had the energy plan but praised as " the most ambitious of its kind in the world . "
The Federal Cabinet approved on Tuesday an energy plan by which the CO2 emissions by 2050 is to be reduced by 80 %. The concept is a term extension for the German nuclear power plants by an average of twelve years before . In return, the nuclear power plant operators pay from 2011 to 2016 each year EUR 2.3 billion fuel tax. In addition, a fund to promote renewable energies will be established in should pay the energy companies a portion of the additional profits from the life extension .

-By Andrew Kißler , Dow Jones Newswires , +49 ( 0) 30-2888 4118,
andreas.kissler @ dowjones.com
DJG / ank / kth / dok

Government does not expect further assistance for Commerzbank

Hochhaus_Coba BERLIN (Dow Jones) – The Federal Government does not anticipate the need for further support for Commerzbank. (Photo : Commerzbank)

As the parliamentary press service today at the Bundestag ( hib ) on Tuesday in Berlin, the government has made this clear in its response to an inquiry by the Parliamentary Group Alliance 90/The Greens.
Commerzbank had received in late 2008 a recapitalization in the form of a silent partnership in the amount of 8.2 billion EUR . In addition, a guarantee facility of 15 billion EUR was granted . 5 billion EUR of the guarantee scheme to be drawn , the rest being returned . have In early 2009 there been a more silent partnership in the amount of 8.22 billion EUR and the acquisition of a blocking minority of 25 % plus one share , the parliamentary press service reported on from the response the government.

Website: www.bundestag.de
– By Beate Preuschoff, Dow Jones Newswires
+49 ( 0) 30-2888 4122 beate.preuschoff @ dowjones.com
DJG / bep / cbr / dok

Heidelberger Druckmaschinen Concludes Capital Increase

060321_hpp_2006_l.jpg_frei FRANKFURT (Dow Jones) – Heidelberger Druckmaschinen AG has completed the mid-month launched capital increase . 99.85% of the subscription rights were exercised by a rights holder , as the MDAX-listed company announced on Tuesday. (Photo : Heidelberg Print)

The remaining new shares were sold by the global coordinators Commerzbank and German bank on the exchange. Overall, placed the Heidelberg planned how well 155 million new ordinary shares at a subscription price of 2.70 EUR . The gross proceeds thus stands at around 420 million EUR .
" With the successful capital increase, we have a solid foundation for sustainable profitable growth, " said CEO Bernhard Schreier. Chief Financial Officer Dirk added Kaliebe , the new issue was an important step in the new financial structure , "We will reduce our debt now significantly and strengthen our financial structure the long term . "
The major shareholder Allianz SE announced as fully entrained in the capital and still holds about 13 % of the Heidel pressure voting rights . RWE AG , however, has let dilute its stake through a kind of "Operation Blanche " and now holds only 4.2% of the Heidelberg . Before the capital it had been about 8%.

Website: www.heidelberg.com
DJG / ncs / cbr / dok

Merkel rules out extension of the Euro – rescue fund

2010-09-28_Bankentürme_ddpBERLIN (Dow Jones) – Chancellor Angela Merkel on Tuesday rejected calls for an extension of the Euro – rescue fund strong . "A simple extension of such funds , as we have now will not exist with Germany, " Merkel said on Tuesday at the Federation of German Industries (BDI ) organized " Day of German Industry in Berlin. (Photo : Reuters )

One must " pay close attention to the fact that the countries which have today weaknesses, become stronger "at the Euro – rescue , demanded the Chancellor. "Therefore I say clearly that there will not be an extension of the relief fund , "said Merkel. Rather, one needs the EU Treaty changes so that "countries that do not respect the Stability and Growth Pact, other procedures may be subject, as we have today in the contract , "she asked with a view to German proposals for a new crisis mechanism.
The " benchmark " for this purpose must be based on the most Euro countries and not after any average , said Merkel. "The Euro – stability can be achieved only when the benchmark is the stronger , not when we focus together on a steadily sinking fluid level , "she said.

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-By Andrew Kißler , Dow Jones Newswires
+49 ( 0) 30-2888 4118, andreas.kissler @ dowjones.com
DJG / ank / mle / dok