Germany Eyes Loosening Job Protections for Finance High-Earners.

The German government is considering loosening job protections for high earners in the finance industry in order to compete with France and the UK in attracting top bankers. The proposed changes would extend existing rules for risk takers at systemically important banks to insurance companies, securities institutions, and investment firms. Germany, along with other European Union nations, has been trying to attract business from London since Brexit, and Frankfurt has already won the bid to host the EU's new money laundering authority. The finance ministry document also outlines additional measures, such as abolishing the employee and complaints register at financial supervisor BaFin and increasing thresholds for BaFin's loan reporting system. [Extracted from the article]