wolfgang schäuble

While the allure is there, a Greek exit from the European Union is unmistakably a bad idea.

Recently the China-led Asian Infrastructure and Investment Bank has given the United States headaches. Now German finance minister Wolfgang Schäuble sheds light on why Germany joined the Bank and why the West should find a common position on the issue.

After weeks of negotiations, European leaders and the International Monetary Fund agree on a solution to reduce Greek debt, at least for the time being.

Germany announced it will balance its budget, achieving zero deficit by 2014—two years sooner than expected. In 2013, the deficit will fall below 0.5 percent.

A tax agreement between Germany and Switzerland aimed at tackling tax evasion remains controversial in Germany and might never take effect.