Growing Concern: World Bank Blasts Europe's Euro-Crisis Management

Growing Concern: World Bank Blasts Europe's Euro-Crisis Management

SPIEGEL ONLINE - June 01, 2012

Is the euro entering the end game? With Spanish banks on the brink and the Greek political situation uncertain, many senior economic leaders say that the time for drastic action is swiftly approaching. On Friday, World Bank head Robert Zoellick argued that it is almost time to "break the glass" on the emergency alarm. more...

High-Stakes Referendum: Ireland's Test Vote on Merkel's Fiscal Pact

High-Stakes Referendum: Ireland's Test Vote on Merkel's Fiscal Pact

SPIEGEL ONLINE - May 30, 2012

All of Europe is looking to Ireland as the country prepares to vote on Thursday in a referendum on the unpopular fiscal compact for greater budgetary discipline. If the Irish reject the new treaty, it won't just be a major blow to its main advocate Angela Merkel. It could also spark panic on the financial markets. By Carsten Volkery in London more...

European Union Survey: Greeks and Germans Are 'Polar Opposites'

European Union Survey: Greeks and Germans Are 'Polar Opposites'

SPIEGEL ONLINE - May 29, 2012

Germans are seen as the hardest working and least corruptible people in the European Union, a survey of eight EU countries shows, with Chancellor Angela Merkel receiving good marks for her crisis management. Greece, which has high praise for itself, is viewed poorly by its neighbors. more...

Greek Leftist Leader Alexis Tsipras: 'It's in Europe's Interest to Lift the Austerity Diktat'

Greek Leftist Leader Alexis Tsipras: 'It's in Europe's Interest to Lift the Austerity Diktat'

SPIEGEL ONLINE - May 28, 2012

Alexis Tsipras, head of the leftist Syriza party, wants an end to austerity in Greece. Ahead of Greek general elections in mid-June, he speaks with SPIEGEL about the dangers his country poses to the euro, the failure of economization measures thus far and why Chancellor Angela Merkel would be to blame if the Greek economy collapses. more...

'Pay Your Taxes': Greeks Furious Over Harsh Words from IMF and Germany

'Pay Your Taxes': Greeks Furious Over Harsh Words from IMF and Germany

SPIEGEL ONLINE - May 28, 2012

As Greeks prepare to head to the polls once again in three weeks, international criticism of the country is intensifying. IMF head Christine Lagarde on Friday said citizens must begin paying their taxes, while a member of the German cabinet referred to Greece as a "bottomless pit." more...

Six-Point Growth Plan: Merkel Prepares to Strike Back Against Hollande

Six-Point Growth Plan: Merkel Prepares to Strike Back Against Hollande

SPIEGEL ONLINE - May 26, 2012

France's new president, François Hollande, has put the German chancellor on the defensive with his growth agenda. Now Angela Merkel is planning to strike back. She is calling for structural reforms to save the euro with a six-point plan aimed at harmonizing austerity and growth in Europe once again. more...

Six-Point Growth Plan: Berlin Proposes European Special Economic Zones

Six-Point Growth Plan: Berlin Proposes European Special Economic Zones

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 ]

Illegal Immigrants in Greece: At the Mercy of the People Smugglers

Illegal Immigrants in Greece: At the Mercy of the People Smugglers

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 ]

Greece and the Common Currency: Euro Zone Developing Grexit Contingency Plan

Greece and the Common Currency: Euro Zone Developing Grexit Contingency Plan

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...

France Dominates EU Summit: Hollande Steals the Show from Merkel

France Dominates EU Summit: Hollande Steals the Show from Merkel

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 ]