SPIEGEL ONLINE
- May 25, 2012
With Europe beginning to look for alternatives to its exclusive focus on austerity, the German government has developed a six-point plan to foster economic growth in Europe, SPIEGEL has learned. Included in the proposal is the creation of special economic zones in struggling euro-zone countries. more... [ Comment ]
SPIEGEL ONLINE
- May 24, 2012
Many of the illegal immigrants in the EU arrive via Greece, which is overwhelmed by the flood of incomers. The would-be migrants are ruthlessly exploited by people smugglers, and many of them die in the attempt to get to Europe. SPIEGEL heard the stories of a group of young Bangladeshi men who made it to Athens -- and discovered the reality behind the dream. By Andreas Ulrich in Nea Vyssa, Greece more... [ Comment ]
SPIEGEL ONLINE
- May 24, 2012
With Greeks heading to the polls once again in June, finance ministries in euro-zone member states are preparing for the worst. Several media outlets are reporting that contingency plans are being developed to prepare for a Greek exit from the common currency zone. more...
SPIEGEL ONLINE
- May 24, 2012
French President François Hollande managed to set the tone at his first EU summit with his proposal for euro bonds. It was the first such meeting in years that was not dominated by Chancellor Merkel. Hollande wanted to send the message that France will be more assertive in the future. By Carsten Volkery in Brussels more... [ Comment ]
SPIEGEL ONLINE
- May 23, 2012
In a SPIEGEL interview, Nobel Prize-winning economist Paul Krugman argues that this is not the time to worry about debt and inflation. To save the euro zone, he argues that the European Central Bank should loosen monetary policy and the German government should abandon austerity. more... [ Comment ]
SPIEGEL ONLINE
- May 23, 2012
For the first time in history, Germany issued long term bonds with a zero percent coupon rate on Wednesday. The demand reveals the deep concerns investors have about the euro zone and their desire for a safe place to park their capital -- even if it costs them money to do so. more...
SPIEGEL ONLINE
- May 22, 2012
Charismatic, eloquent and defiant, the leader of Greece's Radical Left party, Alexis Tsipras, visited Berlin on Tuesday to ram home the message that he will scrap austerity if he wins the June election, and that no one, not even mighty Germany, has the right to evict Greece from the currency. By David Crossland more...
SPIEGEL ONLINE
- May 22, 2012
Germany is Europe's paymaster because it committed the Holocaust, claims a new book by Thilo Sarrazin, a firebrand author and former board member of the German central bank. The claim by the controversial writer achieved the desired effect of stoking publicity for Tuesday's launch of 'Europe Doesn't Need the Euro.' more...
SPIEGEL ONLINE
- May 21, 2012
Greece's tourism industry, crucial to its ailing economy, has been hit hard by the political turmoil following the May 6 election and growing speculation of a Greek euro exit, tourism experts say. One industry leader reports bookings have been down 50 percent since the vote. more...
SPIEGEL ONLINE
- May 21, 2012
Greeks have spurned the politicians who represent the country's broken system, and many are now following rising star Alexis Tsipras. The radical left-wing politician has pledged to free Greece from painful austerity measures while keeping the euro, but no one knows how he plans to fulfill his promises. By Julia Amalia Heyer more... [ Comment ]
SPIEGEL ONLINE
- May 21, 2012
The European Central Bank is keeping Greek banks afloat with emergency assistance even though urgently needed banking reforms have been put on hold in the election campaigns. As Greeks withdraw money from the banks amid fears of a euro exit, the ECB's own risk exposure is mounting. By Anne Seith more... [ Comment ]
SPIEGEL ONLINE
- May 21, 2012
French President François Hollande has reignited the debate over euro bonds ahead of this week's informal EU summit. Germany has repeated its opposition to jointly issued debt. German commentators are divided over the merits of euro bonds, but agree that Chancellor Merkel will have to make concessions. more... [ Comment ]
SPIEGEL ONLINE
- May 21, 2012
Officially, euro zone governments say they're not talking about a Greek exit from the euro zone. But it's a different story behind closed doors. Finance ministers meeting in Brussels last Monday threatened to evict Greece, SPIEGEL has learned. Meanwhile, Germany denied reports that Chancellor Angela Merkel called for Greece to hold a referendum on the euro. more...
SPIEGEL ONLINE
- May 21, 2012
German Finance Minister Wolfgang Schäuble wants to become the head of the Euro Group, but this prospect is being met with ample skepticism. In Berlin he is seen as too European, while in Brussels he is considered too German. Critics say taking on the second job would cause a conflict of interest. By Andreas Macho, Christian Reiermann and Christoph Schult more...
SPIEGEL ONLINE
- May 21, 2012
French President François Hollande will put German Chancellor Angela Merkel under pressure at Wednesday's EU summit to agree to euro bonds, which she has so far strictly opposed. Italy and Britain are expected to back Hollande in a further sign that Merkel is increasingly isolated in Europe with her austerity plan for saving the euro. more...
SPIEGEL ONLINE
- May 21, 2012
In a SPIEGEL interview, British Deputy Prime Minister Nick Clegg argues that the European Union has to stand together to fight the crisis. The euro zone needs a clear vision for its future, he argues, otherwise Europe will see a new wave of nationalism and xenophobia. more... [ Comment ]
