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  • Germany joins China development bank

    03/17/2015 10:10:58 AM PDT · by Olog-hai · 14 replies
    TheLocal.de ^ | 17 Mar 2015 11:38 GMT+01:00
    Finance Minister Wolfgang Schäuble confirmed on Tuesday that Germany has agreed to join the China-led Asian Infrastructure Investment Bank (AIIB), despite pressure from the US.Germany, France and Italy “want to bring our long experience … to help the bank build a solid reputation,” Schäuble said at a joint press conference in Berlin with Chinese vice-premier Ma Kai. “We want to make a contribution to the positive development of the Asian economy, in which German companies are actively taking part,” he said. France and Italy have also agreed to become members of the $50-billion institution, seen as a rival to the...