World from Berlin: 'Last Euro-Crisis Taboo Broken'

World from Berlin: 'Last Euro-Crisis Taboo Broken'

SPIEGEL ONLINE - March 18, 2013

The decision to tax ordinary savings accounts at Cypriot banks as part of a €10 billion EU bailout package has been met with sharp backlash at home and abroad. The measure signifies a new level of escalation and could be too risky, German commentators say on Monday. more... Comment ]

The World from Berlin: 'When Does Time Run Out for a Coalition?'

The World from Berlin: 'When Does Time Run Out for a Coalition?'

SPIEGEL ONLINE - September 15, 2011

A rogue editorial by Angela Merkel's economy minister has caused unwelcome turmoil in the German debate over the euro. Merkel would like to show a united front in the European debt crisis, but dissent by Philipp Rösler, who is also vice chancellor, has called her whole government into question. more...

Spreading Like Wildfire: A Chronicle of the Euro Crisis

Spreading Like Wildfire: A Chronicle of the Euro Crisis

SPIEGEL ONLINE - June 20, 2011

When the euro crisis started in Greece in October 2009, nobody had any idea how quickly or broadly it would spread -- or how difficult it would be to solve. Below, some key dates in this still-unfolding saga. more...

Desperate Bid to Cut Deficit: Greek Privatization Plan Faces Massive Domestic Resistance

Desperate Bid to Cut Deficit: Greek Privatization Plan Faces Massive Domestic Resistance

SPIEGEL ONLINE - June 07, 2011

Greece is scrimping and saving, but still failing to get its debt crisis under control. The government plans to raise 50 billion euros through a privatization program, but faces massive resistance from Greeks worried about selling off the nation's assets. Experts also doubt whether the strategy will work. By Manfred Ertel in Athens more...

The Hidden Cost of Saving the Euro: ECB's Balance Sheet Contains Massive Risks

The Hidden Cost of Saving the Euro: ECB's Balance Sheet Contains Massive Risks

SPIEGEL ONLINE - May 24, 2011

While Europe is preoccupied with a possible restructuring of Greece's debt, huge risks lurk elsewhere -- in the balance sheet of the European Central Bank. The guardian of the single currency has taken on billions of euros worth of risky securities as collateral for loans to shore up the banks of struggling nations. By Matthias Brendel and Christoph Pauly more... Comment ]

Euro Falling on Contagion Fears: Pressure Mounts for Portugal Bailout

Euro Falling on Contagion Fears: Pressure Mounts for Portugal Bailout

SPIEGEL ONLINE - January 10, 2011

Germany and France want to push Portugal to seek a bailout from the EU's rescue fund in order to stop the debt crisis from spreading to countries like Spain and Belgium, according to reports from SPIEGEL and Reuters. Portugal on Sunday denied any such pressure, but the euro is falling on fears of contagion. more...

Competing Visions: France and Germany Split over Plans for European Economic Government

Competing Visions: France and Germany Split over Plans for European Economic Government

SPIEGEL ONLINE - January 03, 2011

Both France and Germany want an economic government for Europe. The only problem is they have completely different things in mind. The conflict threatens to derail any chances of progress. By Peter Müller and Michael Sauga more... Comment ]

Demanding the Mark Back: Opposition to the Euro Grows in Germany

Demanding the Mark Back: Opposition to the Euro Grows in Germany

SPIEGEL ONLINE - December 27, 2010

Surveys show that many Germans are worried about the future of the euro, but the country's political parties are not taking their fears seriously. The number of grassroots initiatives against the common currency is increasing, and political observers say a Tea Party-style anti-euro movement could do well. By Peter Müller more... Comment ]

Saving the Common Currency: Berlin Denies Plans for a New Euro Stability Fund

Saving the Common Currency: Berlin Denies Plans for a New Euro Stability Fund

SPIEGEL ONLINE - December 23, 2010

Is Germany working on a new stability fund for the European common currency? A report in a Munich daily on Thursday claimed that Berlin was working with several other European capitals on such a plan. The Finance Ministry, however, says it is not. The confusion is typical of the EU's response to the euro crisis. more...

Top Economists Debate the Crisis: 'Clinging to the Euro Will Only Prolong the Agony'

Top Economists Debate the Crisis: 'Clinging to the Euro Will Only Prolong the Agony'

SPIEGEL ONLINE - December 22, 2010

Leading German economists Peter Bofinger and Stefan Homburg are split over the euro's chances of survival. In a discussion moderated by SPIEGEL, they talked about the wisdom of introducing a euro bond and what would happen if Germany left the common currency. more... Comment ]