Finance

Ezb supervisory authority sees banks ready for crisis situation

Ezb supervisory authority sees banks ready for crisis situation

The european central bank (ECB) sees banks in the euro area as being in a good overall position in case customers withdraw money on a large scale.

The liquidity situation of the vast majority of institutions is "comfortable" overall despite some weaknesses, the ECB’s banking supervisors said. 103 institutions participated in the special stress test. No information was provided on individual credit institutions.

The supervisors wanted to know how many days banks can "maintain their activity" in the event of a shock "based on the available cash and collateral without access to the refinancing markets. According to the data, about half of the money houses have lasted more than six months without relying on outside capital. In the case of extreme distortions, it was still more than four months.

Finance

Greece threatened with national bankruptcy – markets in turmoil

Greece threatened with national bankruptcy - markets in turmoil

The euro fell below the 1.21 dollar mark on monday, the lowest it has been in two years.

According to the "suddeutscher zeitung" (monday), the greeks’ reorganization program again has a hole in the double-digit billions, which athens could stop by making even more savings. However, the parties in government since june have ruled out additional burdens for the population. The euro partners, on the other hand, could provide further loans of up to 50 billion euros.

However, according to the paper, the lenders, above all germany, are no longer prepared to support the government in athens beyond the previous pledges. The "SZ" quoted from government circles in berlin that it is "unthinkable that chancellor angela merkel will once again appear before the bundestag and ask for approval for a third greece package".

Finance

Iphofen invests in “junk property” stohr

Iphofen invests in 'junk property' stohr

It is 22.02 o’clock on monday evening, when architect julia dillamar leaves the hall of the karl-knauf-halle in iphofen. City councilor otto kolesch jumps up from his seat, approaches her and flutters a few words at her. She laughs torturedly, wishes "everyone a pleasant evening," and then she’s gone. On this evening of many words, kolesch has become a harsh critic of the architect and the wurzburg planning office archicult. In the end, he rowed a long way back, but nevertheless he won a small victory and achieved what he wanted from the beginning: the iphof town council now has the costs of a general renovation of the ailing stohr department store on the market square calculated and will use this as a basis for further deliberations. Gentle pressure, also from the CSU and its third mayor, jorg schanow, made the committee give in at a later hour on monday.

Millions may soon be at stake

Basically, it was like so often in iphofen: the town looks for home cooking and ultimately ends up with oysters and caviar. With 200,000 euros and a few manual operations, the stohr department store, which it had acquired, was to be filled with life again as quickly as possible. That was the plan in january 2019 . There was talk of a regional delicatessen with a small snack bar. "They wanted to limit themselves to the most necessary structural measures," says architect dillamar. But there is not much left of these plans. If the city council ultimately decides on a general renovation – even if it is only in several construction phases – it is not a matter of hundreds of thousands, but of millions.

Instead of a department store with an emphasis on regional delicacies on the first floor, there is now talk of a concept with a focus on snack food. The 200,000 euros once mentioned have now become 575,000 euros, and the originally planned start date has been postponed from the middle of the year to the beginning of 2021. For otto kolesch it was all foreseeable. He had pointed out from the beginning that the money and the scope of the renovation were not enough. But neither the architects nor his colleagues in the city council followed him in this assessment.

Finance

Photovoltaic on sand pit

A plot of land near the new geiselwinder inno-park business park will in future be designated as a special use area for photovoltaics. In the municipal council, mayor ernst nickel presented the resolutions for the necessary change of the development plan, as well as the land use plan.

The plot in question has a size of 2.21 hectares and is located in the direction of the district of futtersee. The approval by the council is necessary, according to the head of administration wilfried hack, because the flat is located in the aubenbereich. The area was previously used for sand exploitation. According to the bavarian government, these flat areas are to be used preferentially for photovoltaics. "It is approvable because you can’t see it from the road," said burgermeister nickel.

The land will first be filled in at ground level and recultivated. Council member gerhard haubenreich wanted to know where the generated energy would be exported to and where pipes would have to be dug. Mayor nickel replied that the electricity would be fed directly into the inno-park.

Finance

Ice saints bring disaster

Ice saints bring disaster

The ice saints have given the winegrowers in franken a run for their money. Artur baumann, managing director of the winegrowing ring, expects a 20 percent crop loss. "Maybe another ten percent will be added."The actual damage will only become apparent in the coming days.

The thermometer in the saale valley dropped to minus four degrees, and in the steigerwald the temperatures were also well into the minus range. To the west of the main, most of the growing areas have been spared some damage, while to the east the frost has caused severe damage. "The situation is threatening the existence of some businesses," warns hermann schmitt, managing director of the french winegrowers’ association. According to his information, the regions around handthal and hammelburg as well as the cultivation areas in the steigerwald are particularly affected. Even the mainschleife was not spared the frost. Damage was also reported from sulzfeld and rodelsee. "There hasn’t been a may frost there in ages," baumann marvels.

2011 was the last time the french winegrowers had to fight with the ice saints. The result: yields dropped to an average of 60 hectoliters. This time the harvest failure hits the winegrowers at an even more unfavorable time. Last year’s average yield of 56 hectoliters was already very low due to the drought, and the corona crisis has hampered sales in recent weeks. "No gastronomy, no wine festivals, no wine tourism", hermann schmitt sums up the malaise. "This is certainly not an easy situation we find ourselves in." Especially since the winegrowers cannot count on state aid. "Losses due to natural events are no longer compensated," informs schmitt. Winegrowers must make private provisions.