🇩🇪 Germany
Geopolitics & Diplomacy
Hungary, Slovakia, Czechia and Bulgaria push back on Merz's EU budget-Ukraine aid link ahead of Nov. 12-13 Dublin summit
Chancellor Friedrich Merz wrote to European Council President Antonio Costa that Germany would back the 2028-2034 EU budget only if all member states join in funding Ukraine from 2027 on. Ukraine needs an extra 70 billion euros next year, two-thirds of which, about 45 billion euros, the EU has pledged to cover. Slovak Prime Minister Robert Fico called it blackmail and said Slovakia has the same veto, Czech Prime Minister Andrej Babis noted the draft budget already earmarks 100 billion euros for Ukraine, Hungary's Peter Magyar opposed the linkage, and Bulgarian Prime Minister Rumen Radev said his country would not join new funding because of its deficit. Both the budget and any new aid instrument require unanimity. Leaders will discuss Ukraine funding at an informal summit in Dublin on Nov. 12-13.
Finance & Economy
DAX gains 1.12% to 26,642.06 as STOXX 600 posts record close
[Wed 11/11 close] Siemens Energy's outlook and CoreWeave-driven AI optimism lifted the STOXX 600 0.72% to a record close of 663.05. The DAX led the region, and the Euro Stoxx 50 rose 0.68% to 6,401.60.
Sources: marketscreener.cominvestinglive.com
Tech & Energy
Germany a target of US diesel export ban warning, joins G7 reserve release
Reports said the US warned Germany and France it could impose a diesel export ban if they did not release reserves. After the G7 agreement on 2 October, Trump said he was withdrawing the export ban.
Sources: cityam.comcnbc.com