Saturday, November 21, 2009

International

The Global Downturn

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Buying Itself Out of a Recession: Countries Ask How Germany Avoided Mass Unemployment
November 04, 2009, 05:56 PM

BUYING ITSELF OUT OF A RECESSION

Countries Ask How Germany Avoided Mass Unemployment

Germany, second only to China as the world's leading exporter of goods, has been particularly hard-hit by the collapse of global markets. But the mass unemployment some had feared has failed to materialize. Labor experts in many countries are wondering how Germany has done it. By SPIEGEL Staff more...

Getting Off Lightly: Bankers Stonewall Investigators in Crisis Probes
October 20, 2009, 05:26 PM

GETTING OFF LIGHTLY

Bankers Stonewall Investigators in Crisis Probes

The investigation into public bank BayernLB highlights the problems the German justice system faces in tackling the shortcomings that led to the financial crisis. Investigators are overwhelmed, and managers and supervisors have formed a wall of silence. By SPIEGEL Staff more...

One Year On: How Iceland Is Coping With a Broken Economy
October 09, 2009, 06:04 PM

ONE YEAR ON

How Iceland Is Coping With a Broken Economy

It's been one year since Iceland slid into the financial abyss with the failure of leading banks. The economy still hasn't recovered, but Icelanders appear to have gotten used to life in the crisis. They live more modestly now and seem surprisingly content. By Niels Reise more...

The World From Berlin: 'We Need a Pan-European Financial Oversight Authority'
October 07, 2009, 03:40 PM

THE WORLD FROM BERLIN

'We Need a Pan-European Financial Oversight Authority'

It seems likely that Germany's central bank, the Bundesbank, will soon become the sole overseer of the country's financial system in a bid to prevent the mistakes made during the financial crisis. German commentators argue that a pan-European oversight authority would make more sense. more...

Interview with Deutsche Bank CEO Ackermann: 'There Would Be No Banking Industry Without Risks'
October 05, 2009, 05:30 PM

INTERVIEW WITH DEUTSCHE BANK CEO ACKERMANN

'There Would Be No Banking Industry Without Risks'

Deutsche Bank CEO Josef Ackermann, 61, spoke with SPIEGEL about new regulations for global financial markets, who should be blamed for the global financial meltdown, and what the banks have actually learned from the crisis. more...

Scrapping the Scrapping Bonus: German Car Sales Plummet in September
October 02, 2009, 11:56 AM

SCRAPPING THE SCRAPPING BONUS

German Car Sales Plummet in September

For most of the year, German car makers lived in a bubble, funded by government subsidies for those who would scrap their old cars for newer, more fuel-efficient models. Now that the program has ended, car sales have halved. more...

New IMF Forecast: German Economy Set to Benefit from Global Growth
September 30, 2009, 01:27 PM

NEW IMF FORECAST

German Economy Set to Benefit from Global Growth

The IMF has revised up its forecast for global economic growth, which should boost the export-oriented German economy. Unemployment in Europe's largest economy fell more than expected in September. But analysts warn that the jobless total will rise sharply in the coming months, despite improving growth. more...

An Interview with Gruner + Jahr CEO: 'We Are Not Doing Well'
September 25, 2009, 06:35 PM

AN INTERVIEW WITH GRUNER + JAHR CEO

'We Are Not Doing Well'

Bernd Buchholz, the 47-year-old CEO of Gruner + Jahr, discusses the effects of the global downturn on Europe's largest magazine publisher, the future of quality journalism and the difficult reality of living with red ink. more...

The World from Berlin: Can the G-20 Prevent the Next Crisis?
September 25, 2009, 12:53 PM

THE WORLD FROM BERLIN

Can the G-20 Prevent the Next Crisis?

All eyes are on the G-20 meeting in Pittsburgh where leaders aim to reshape the global financial system, shifting more power to emerging countries. German newspapers on Friday discuss the gargantuan task facing the group -- and weigh up its chances of averting future financial meltdowns. more...

Brussels Financial Expert on G-20 Summit: 'The System Is Sick and Needs to Be Reformed'
September 24, 2009, 12:35 PM

BRUSSELS FINANCIAL EXPERT ON G-20 SUMMIT

'The System Is Sick and Needs to Be Reformed'

The issue of banker bonuses threatens to dominate the G-20 summit in Pittsburgh. That would be the wrong signal, though, warns German financial expert Jakob von Weizsäcker. He says increased capital requirements and monitoring for banks should be given the priority in Pittsburgh. more...