Sentiment among German companies has deteriorated further at the beginning of the year. The ifo Business Climate Index fell to 85.2 points in January, down from 86.3 points in December. Companies assessed their current situation as worse. Their expectations for the months ahead were also once again more pessimistic. The German economy is stuck in recession.
Economics
DeStatis – Germany: Decline in real earnings greater than in Great Financial Crisis
If this is a V-Recovery, it is obviously for the 1% Read here
Finance
Alex Cobham: KPMG And The False Objectivity Of The ‘Big Four’
From the Huffington Post It’s time to recognise them for what they are or we’ll continue getting stung, says economist and Chief Executive of the Tax Justice Network, Alex Cobham. Read here
EU politics
Politico: Brussels must trim €13B from proposed budget increase, EU capitals say
Divisions are growing between member-states over the size of the European Commission’s budget, which affects Ukraine funding and more. Read the article HERE.
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