German Finance Minister Hans Eichel may plan to equalise the corporate taxes for all types of businesses at about 30%, Welt am Sonntag said, without saying where it got the information.

Germany's black economy is generating around €1bn a day and is producing about 17% of Germany's Gross Domestic Product, according to finance minister Hans Eichel.

Chancellor Gerhard Schroeder remained defiant today after Germany and France faced down a threat of EU sanctions over their ballooning budget deficits, angering smaller member nations and sparking concern about the euro’s stability.

EU officials insisted today that giving France more time to avoid punishment for overspending did not weaken budget rules underpinning the euro, despite warnings that they were sending the wrong signal on fiscal discipline.

Germany's SPD and Green coalition have said today that the country's budget deficit for 2003 will be the highest on record at around €43.8bn.

German Finance Minister Hans Eichel has stated that the German economy is set for zero growth this year.

German Finance Minister Hans Eichel said he wants to save €10bn in the 2003 budget and avoid tax hikes if possible.

THE European Investment Bank (EIB) said yesterday it would offer water-logged countries in central Europe millions in loans for repairing flood damage.

German Finance Minister Hans Eichel said it is highly desirable that the three EU members not currently part of the euro zone - the UK, Sweden and Denmark - adopt the euro after enlargement of the EU.

German Finance Minister Hans Eichel and Chancellor Gordon Brown are expected to reveal plans for a European Union financial markets watchdog this weekend.