http://www.spiegel.de Daily news, analysis and opinion from Europe's leading newsmagazine and Germany's top news Web site. en Wed, 19 Jun 2013 10:44:43 +0200 Wed, 19 Jun 2013 10:44:43 +0200 http://www.spiegel.de http://www.spiegel.de/static/sys/logo_120x61.gif http://www.spiegel.de/international/germany/german-communities-forced-to-find-creative-ways-to-reduce-debt-a-906478.html#ref=rss Outwardly, at least, Germany is thriving. But some 130 billion euros in combined debt are forcing communities to find creative ways to cut costs. The city of Goslar, for example, hopes that killing the lights at night will bring a brighter future. Wed, 19 Jun 2013 10:40:00 +0200 http://www.spiegel.de/international/germany/german-communities-forced-to-find-creative-ways-to-reduce-debt-a-906478.html Outwardly, at least, Germany is thriving. But some 130 billion euros in combined debt are forcing communities to find creative ways to cut costs. The city of Goslar, for example, hopes that killing the lights at night will bring a brighter future.]]> http://www.spiegel.de/international/europe/cyprus-asks-for-improvements-to-bailout-deal-a-906558.html#ref=rss In a letter to euro-zone leaders, Cypriot President Nicos Anastasiades has asked that the bailout package for his country be revisited. The effects on the island nation's economy have been much greater than expected, he writes. EU leaders are "puzzled." Wed, 19 Jun 2013 08:45:00 +0200 http://www.spiegel.de/international/europe/cyprus-asks-for-improvements-to-bailout-deal-a-906558.html In a letter to euro-zone leaders, Cypriot President Nicos Anastasiades has asked that the bailout package for his country be revisited. The effects on the island nation's economy have been much greater than expected, he writes. EU leaders are "puzzled."]]> http://www.spiegel.de/international/europe/samaras-government-in-greece-survives-broadcaster-battle-a-906466.html#ref=rss Greek Prime Minister Antonis Samaras almost fell over his decision last week to shut down public broadcaster ERT. But on Monday night, an unexpected court ruling helped him stay in power. How long will the peace last? Tue, 18 Jun 2013 15:25:00 +0200 http://www.spiegel.de/international/europe/samaras-government-in-greece-survives-broadcaster-battle-a-906466.html Greek Prime Minister Antonis Samaras almost fell over his decision last week to shut down public broadcaster ERT. But on Monday night, an unexpected court ruling helped him stay in power. How long will the peace last?]]> http://www.spiegel.de/international/germany/oecd-study-finds-large-numbers-of-immigrants-leave-germany-a-905583.html#ref=rss Is Germany a dreamland for immigrants? Not entirely. According to a new OECD study, more than half the Greeks and Spaniards who come to Germany leave within a year. Thu, 13 Jun 2013 18:00:00 +0200 http://www.spiegel.de/international/germany/oecd-study-finds-large-numbers-of-immigrants-leave-germany-a-905583.html Is Germany a dreamland for immigrants? Not entirely. According to a new OECD study, more than half the Greeks and Spaniards who come to Germany leave within a year. ]]> http://www.spiegel.de/international/europe/german-high-court-skeptical-of-ecb-bond-buying-a-905246.html#ref=rss Germany's high court on Tuesday made clear that it was skeptical of the ECB's program to buy unlimited quantities of sovereign bonds from struggling euro-zone member states. It could strike down the most successful tool in combating the crisis. Wed, 12 Jun 2013 11:40:00 +0200 http://www.spiegel.de/international/europe/german-high-court-skeptical-of-ecb-bond-buying-a-905246.html Germany's high court on Tuesday made clear that it was skeptical of the ECB's program to buy unlimited quantities of sovereign bonds from struggling euro-zone member states. It could strike down the most successful tool in combating the crisis.]]> http://www.spiegel.de/international/europe/german-high-court-considers-challenge-to-ecb-bond-purchases-a-904745.html#ref=rss Germany's highest court is currently reviewing the European Central Bank's controversial bond-buying program to shore up euro-zone crisis countries. A decision in Karlsruhe could determine the common currency's fate. Mon, 10 Jun 2013 13:06:00 +0200 http://www.spiegel.de/international/europe/german-high-court-considers-challenge-to-ecb-bond-purchases-a-904745.html Germany's highest court is currently reviewing the European Central Bank's controversial bond-buying program to shore up euro-zone crisis countries. A decision in Karlsruhe could determine the common currency's fate.]]> http://www.spiegel.de/international/europe/the-imf-admits-serious-mistakes-on-greek-bailout-a-904093.html#ref=rss The International Monetary Fund conceded on Wednesday that it lowered its own standards on the Greek bailout, underestimating the effects of austerity and making overly optimistic projections for Greece's economy. Thu, 06 Jun 2013 11:47:00 +0200 http://www.spiegel.de/international/europe/the-imf-admits-serious-mistakes-on-greek-bailout-a-904093.html The International Monetary Fund conceded on Wednesday that it lowered its own standards on the Greek bailout, underestimating the effects of austerity and making overly optimistic projections for Greece's economy.]]> http://www.spiegel.de/international/europe/greece-wants-to-slow-public-sector-layoffs-to-avoid-unrest-a-903868.html#ref=rss Huge protests, massive strikes and tear gas: That is the horror scenario that is driving the Greek government to ask for more time to lay off thousands of public sector workers. Athens doesn't want to scare away tourists in the summer season. Wed, 05 Jun 2013 11:19:00 +0200 http://www.spiegel.de/international/europe/greece-wants-to-slow-public-sector-layoffs-to-avoid-unrest-a-903868.html Huge protests, massive strikes and tear gas: That is the horror scenario that is driving the Greek government to ask for more time to lay off thousands of public sector workers. Athens doesn't want to scare away tourists in the summer season.]]> http://www.spiegel.de/international/europe/imf-executve-board-criticizes-euro-zone-crisis-management-a-903426.html#ref=rss The EU's bailout of Cyprus has elicited unusually frank and vehement criticism from the finance experts grouped in the IMF's Executive Board. Their damning indictment at an IMF meeting in May reflects global skepticism, especially in emerging economies, about the euro zone's crisis management.  Mon, 03 Jun 2013 18:32:27 +0200 http://www.spiegel.de/international/europe/imf-executve-board-criticizes-euro-zone-crisis-management-a-903426.html The EU's bailout of Cyprus has elicited unusually frank and vehement criticism from the finance experts grouped in the IMF's Executive Board. Their damning indictment at an IMF meeting in May reflects global skepticism, especially in emerging economies, about the euro zone's crisis management. ]]> http://www.spiegel.de/international/europe/ecb-president-draghi-takes-criticism-for-euro-policy-a-901952.html#ref=rss European Central Bank President Mario Draghi often seems besieged in his Frankfurt tower, surrounded by fellow bankers and a populace that strongly disapprove of his risky policies. Even Germany's top court will pass judgment on them in an upcoming case. Wed, 29 May 2013 14:40:46 +0200 http://www.spiegel.de/international/europe/ecb-president-draghi-takes-criticism-for-euro-policy-a-901952.html European Central Bank President Mario Draghi often seems besieged in his Frankfurt tower, surrounded by fellow bankers and a populace that strongly disapprove of his risky policies. Even Germany's top court will pass judgment on them in an upcoming case.]]> http://www.spiegel.de/international/europe/european-commissioner-oettinger-says-eu-needs-overhaul-a-902553.html#ref=rss Many European leaders have recently suggested that the Continent is on the road to economic recovery. EU Commissioner Günther Oettinger, however, says the bloc is in a "truly abysmal state" and that France, in particular, needs reform. Wed, 29 May 2013 13:32:00 +0200 http://www.spiegel.de/international/europe/european-commissioner-oettinger-says-eu-needs-overhaul-a-902553.html Many European leaders have recently suggested that the Continent is on the road to economic recovery. EU Commissioner Günther Oettinger, however, says the bloc is in a "truly abysmal state" and that France, in particular, needs reform.]]> http://www.spiegel.de/international/europe/students-left-out-youth-unemployment-statistics-distorted-in-europe-a-902301.html#ref=rss The oft-cited statistic that half of young Spaniards are unemployed is wrong. In reality, about one-fifth of those under 25 are looking for work. Nevertheless, outreach programs created by Germany focus on young people alone, though critics say other groups desperately need help too. Tue, 28 May 2013 15:05:05 +0200 http://www.spiegel.de/international/europe/students-left-out-youth-unemployment-statistics-distorted-in-europe-a-902301.html The oft-cited statistic that half of young Spaniards are unemployed is wrong. In reality, about one-fifth of those under 25 are looking for work. Nevertheless, outreach programs created by Germany focus on young people alone, though critics say other groups desperately need help too. ]]> http://www.spiegel.de/international/europe/german-government-to-test-stimulus-instead-of-austerity-a-901946.html#ref=rss With the euro crisis refusing to relent, the German government is backing away from its austerity mandates and planning to spend billions to stimulate ailing economies in Southern European. But can the program succeed? Mon, 27 May 2013 11:24:00 +0200 http://www.spiegel.de/international/europe/german-government-to-test-stimulus-instead-of-austerity-a-901946.html With the euro crisis refusing to relent, the German government is backing away from its austerity mandates and planning to spend billions to stimulate ailing economies in Southern European. But can the program succeed?]]> http://www.spiegel.de/international/business/german-exporters-less-optimistic-as-economic-worries-deepen-a-901556.html#ref=rss Companies in Germany that rely on exports are becoming increasingly concerned about the future of the country's economy, according to a new industry survey. The downturn in optimism is yet another indication that Europe may be in for a period of extended stagnation. Thu, 23 May 2013 17:52:27 +0200 http://www.spiegel.de/international/business/german-exporters-less-optimistic-as-economic-worries-deepen-a-901556.html Companies in Germany that rely on exports are becoming increasingly concerned about the future of the country's economy, according to a new industry survey. The downturn in optimism is yet another indication that Europe may be in for a period of extended stagnation.]]> http://www.spiegel.de/international/germany/germany-wins-bbc-popularity-survey-a-901454.html#ref=rss German Chancellor Angela Merkel has been a favorite target of hatred in recent months as the euro crisis continues to make life difficult for Southern Europeans. But a new BBC poll has found that most people actually have a positive view of Germany. Thu, 23 May 2013 13:05:20 +0200 http://www.spiegel.de/international/germany/germany-wins-bbc-popularity-survey-a-901454.html German Chancellor Angela Merkel has been a favorite target of hatred in recent months as the euro crisis continues to make life difficult for Southern Europeans. But a new BBC poll has found that most people actually have a positive view of Germany.]]> http://www.spiegel.de/international/europe/top-job-cutter-in-greece-worries-about-going-too-far-a-901234.html#ref=rss Antonis Manitakis has the most thankless job in Greece. Tasked with slashing the grotesquely bloated public sector, he is hounded by troika officials, reviled by his countrymen and afraid of cutting too deep. Thu, 23 May 2013 11:54:00 +0200 http://www.spiegel.de/international/europe/top-job-cutter-in-greece-worries-about-going-too-far-a-901234.html Antonis Manitakis has the most thankless job in Greece. Tasked with slashing the grotesquely bloated public sector, he is hounded by troika officials, reviled by his countrymen and afraid of cutting too deep.]]> http://www.spiegel.de/international/business/deloitte-audit-prevention-of-money-laundering-in-cyprus-is-inadequate-a-900593.html#ref=rss A recent inquiry suggests that Cyprus isn't doing enough to combat money laundering, a precondition for obtaining a bailout package. The banks know little about their customers and are ill-equipped to identify suspicious transactions. Fri, 17 May 2013 17:36:00 +0200 http://www.spiegel.de/international/business/deloitte-audit-prevention-of-money-laundering-in-cyprus-is-inadequate-a-900593.html A recent inquiry suggests that Cyprus isn't doing enough to combat money laundering, a precondition for obtaining a bailout package. The banks know little about their customers and are ill-equipped to identify suspicious transactions.]]> http://www.spiegel.de/international/europe/emir-of-qatar-buys-greek-island-and-sparks-new-hope-on-ithaca-a-900519.html#ref=rss Despite the country's crippling financial crisis, residents of the Greek island of Ithaca have found new hope after the Emir of Qatar bought a nearby island for his summer retreat. The purchase has sparked a rush on local real estate and could bring new development. Fri, 17 May 2013 16:13:27 +0200 http://www.spiegel.de/international/europe/emir-of-qatar-buys-greek-island-and-sparks-new-hope-on-ithaca-a-900519.html Despite the country's crippling financial crisis, residents of the Greek island of Ithaca have found new hope after the Emir of Qatar bought a nearby island for his summer retreat. The purchase has sparked a rush on local real estate and could bring new development.]]> http://www.spiegel.de/international/europe/germany-and-france-will-not-create-joint-statement-ahead-of-eu-summit-a-900514.html#ref=rss As a further sign that all is not well in the Franco-German motor of Europe, the two countries will not issue a joint statement ahead of the next EU summit as Berlin had hoped. The development comes as France slips further into economic malaise. Fri, 17 May 2013 13:30:00 +0200 http://www.spiegel.de/international/europe/germany-and-france-will-not-create-joint-statement-ahead-of-eu-summit-a-900514.html As a further sign that all is not well in the Franco-German motor of Europe, the two countries will not issue a joint statement ahead of the next EU summit as Berlin had hoped. The development comes as France slips further into economic malaise. ]]> http://www.spiegel.de/international/europe/german-press-says-extended-eu-recession-shows-austerity-ineffective-a-900252.html#ref=rss The European common currency zone has now been in recession for six straight quarters, with three of the bloc's four largest economies now suffering persistent negative growth. Could the Continent's pursuit of austerity be backfiring? German commentators believe the answer is yes. Thu, 16 May 2013 13:34:27 +0200 http://www.spiegel.de/international/europe/german-press-says-extended-eu-recession-shows-austerity-ineffective-a-900252.html The European common currency zone has now been in recession for six straight quarters, with three of the bloc's four largest economies now suffering persistent negative growth. Could the Continent's pursuit of austerity be backfiring? German commentators believe the answer is yes.]]>