Germany's second-largest bank, Commerzbank, is planning to cut between 4,000 and 6,000 jobs. The lay-offs are part of a larger trend of scaling back among German banks.
Media reports have claimed the Royal Bank of Scotland plans to axe thousands of jobs as it drastically scales back its investment banking business. The lender is still reeling from the aftermath of the financial crisis.
German Chancellor Angela Merkel has expressed support for a new investment program to restart growth in Europe, but said it must be accompanied by more structural reforms and free trade accords with the US and Canada.
Jürgen Fitschen, co-head of Germany's leading bank, is to appear in a Munich court on fraud charges. He is accused of conspiring with fellow defendants to minimize the amount of a settlement by lying under oath.
The Ukrainian economy is tanking, Poland is worried a major wave of refugees could leave Ukraine, a major bank has failed, and inflation is running high. The central bank has responded with a massive interest rate hike.
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