Germany's Fiscal Path: Finance Minister Kukies' Insights

New German Finance Minister Joerg Kukies announced there will be no budget freeze despite the coalition's collapse. He reassured that Germany's government could proceed without issues. Kukies highlighted future financial strategies including privatisation plans and expressed concerns over a potential hostile bank takeover.

Germany's newly appointed Finance Minister Joerg Kukies assured there would be no budget freeze despite the collapse of the coalition government. Speaking from Berlin, he stated that the nation is anticipated to navigate the year without significant financial disruption.

Kukies introduced a provisional budget for the next year, citing impracticality in securing parliamentary approval before March elections. He maintained a calm demeanor, indicating, "The world will not come to an end."

The focus on fiscal stability includes plans for privatising state-run entities and re-privatising the energy company Uniper. Kukies also voiced disapproval regarding UniCredit's potential takeover of Commerzbank, stressing that hostile acquisitions are detrimental to Germany and Europe's banking stability.

(With inputs from agencies.)