Christian Kraemer

German Finance Minister Lars Klingbeil set out demands to UniCredit CEO Andrea Orcel on Monday over the Italian bank's possible takeover of Commerzbank .

German Finance Minister Lars Klingbeil plans to meet UniCredit ​CEO Andrea Orcel, sources told Reuters, the clearest sign yet that Berlin will engage directly with the Italian bank ‌over its Commerzbank takeover attempt.

For nearly two years, UniCredit CEO Andrea Orcel has pursued Commerzbank despite public opposition from Berlin. Now, as he prepares for what could be a pivotal encounter with Germany's finance ​minister, the balance of power in the takeover battle appears to have shifted in his favour.

Germany's government plans to step up its fight against tax evasion and financial crime with a 26-point package that would ​increase penalties, add investigators and use artificial intelligence to help authorities detect fraud.

Any plans by UniCredit to take Commerzbank private would be ​very difficult to implement under the German lender's current structure, ‌as a delisting or squeeze-out of shareholders is hardly possible while Germany retains its stake, government sources told Reuters on Monday.

German Chancellor Friedrich Merz ‌on Thursday called for a revamp of what he cast as the European Union's outdated budget system, backing a streamlined approach that prioritised investing in defence and making the bloc more competitive.

German cabinet agrees to replace green-friendly heating law

German exports are set to stagnate this year, the chambers of ​commerce said on Tuesday, lowering its previous forecast for slight growth as ​companies in Europe's largest economy face supply chain snarls and uncertainty ⁠from the Iran war.

It is not in the interest of the United States that Russia is the winner ​of the Iran war, German Finance Minister Lars Klingbeil said ‌on Thursday in Washington.

Bundesbank President Joachim Nagel said on ​Thursday that the oil price ‌shock due to the Iran war will take a toll on the German ​economy but is unlikely to ​trigger a recession.