http://www.spiegel.de Daily news, analysis and opinion from Europe's leading newsmagazine and Germany's top news Web site. en Thu, 23 May 2013 05:01:01 +0200 Thu, 23 May 2013 05:01:01 +0200 http://www.spiegel.de http://www.spiegel.de/static/sys/logo_120x61.gif http://www.spiegel.de/international/germany/complaints-against-rescue-fund-germany-s-top-court-may-attach-strings-to-euro-bailout-a-768185.html#ref=rss Germany's top court will soon hear a complaint filed against the Greek bailout and euro rescue fund. A recent remark by the court's president suggests it may attach strings to its approval of the bailouts -- and thereby reinforce the country's reputation for obstructionism in the fight to save the euro. Mon, 13 Jun 2011 14:22:00 +0200 http://www.spiegel.de/international/germany/complaints-against-rescue-fund-germany-s-top-court-may-attach-strings-to-euro-bailout-a-768185.html http://www.spiegel.de/international/europe/desperate-bid-to-cut-deficit-greek-privatization-plan-faces-massive-domestic-resistance-a-767199.html#ref=rss 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. Tue, 07 Jun 2011 18:17:00 +0200 http://www.spiegel.de/international/europe/desperate-bid-to-cut-deficit-greek-privatization-plan-faces-massive-domestic-resistance-a-767199.html 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. ]]> http://www.spiegel.de/international/business/the-hidden-cost-of-saving-the-euro-ecb-s-balance-sheet-contains-massive-risks-a-764299.html#ref=rss 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. Tue, 24 May 2011 12:46:00 +0200 http://www.spiegel.de/international/business/the-hidden-cost-of-saving-the-euro-ecb-s-balance-sheet-contains-massive-risks-a-764299.html 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.]]> http://www.spiegel.de/international/europe/european-disunion-rising-self-interest-frays-eu-spirit-a-762403.html#ref=rss An unusual number of crises -- from the Fukushima disaster to the Arab Spring -- have challenged what used to be called the "European spirit." The euroskepticism sparked by the euro crisis has become an epidemic. Experts warn of a retreat to nationalism. Fri, 13 May 2011 16:49:00 +0200 http://www.spiegel.de/international/europe/european-disunion-rising-self-interest-frays-eu-spirit-a-762403.html An unusual number of crises -- from the Fukushima disaster to the Arab Spring -- have challenged what used to be called the "European spirit." The euroskepticism sparked by the euro crisis has become an epidemic. Experts warn of a retreat to nationalism.]]> http://www.spiegel.de/international/business/risks-of-economic-overheating-german-boom-fuels-inflation-angst-a-760105.html#ref=rss The German economic boom is fuelling inflation, and prices are expected to keep rising because of Europe's one-size-fits-all monetary policy. The European Central Bank can't raise interest rates aggressively enough to curb German price pressures because that would hurt the weaker euro-zone economies. Tue, 03 May 2011 16:56:00 +0200 http://www.spiegel.de/international/business/risks-of-economic-overheating-german-boom-fuels-inflation-angst-a-760105.html The German economic boom is fuelling inflation, and prices are expected to keep rising because of Europe's one-size-fits-all monetary policy. The European Central Bank can't raise interest rates aggressively enough to curb German price pressures because that would hurt the weaker euro-zone economies. ]]> http://www.spiegel.de/international/business/super-mario-europe-s-next-top-banker-may-be-italian-a-747127.html#ref=rss Axel Weber has taken himself out of the running, and the candidate from Finland has also withdrawn: That leaves an Italian, Mario Draghi, in line to succeed Jean-Claude Trichet as head of the European Central Bank. A man from a deeply indebted EU nation may now be tasked with saving the euro. Wed, 23 Feb 2011 11:20:00 +0100 http://www.spiegel.de/international/business/super-mario-europe-s-next-top-banker-may-be-italian-a-747127.html Axel Weber has taken himself out of the running, and the candidate from Finland has also withdrawn: That leaves an Italian, Mario Draghi, in line to succeed Jean-Claude Trichet as head of the European Central Bank. A man from a deeply indebted EU nation may now be tasked with saving the euro. ]]> http://www.spiegel.de/international/europe/competing-visions-france-and-germany-split-over-plans-for-european-economic-government-a-737423.html#ref=rss 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. Mon, 03 Jan 2011 09:03:00 +0100 http://www.spiegel.de/international/europe/competing-visions-france-and-germany-split-over-plans-for-european-economic-government-a-737423.html 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.]]> http://www.spiegel.de/international/germany/demanding-the-mark-back-opposition-to-the-euro-grows-in-germany-a-736680.html#ref=rss 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. Mon, 27 Dec 2010 17:24:00 +0100 http://www.spiegel.de/international/germany/demanding-the-mark-back-opposition-to-the-euro-grows-in-germany-a-736680.html 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.]]> http://www.spiegel.de/international/europe/saving-the-common-currency-berlin-denies-plans-for-a-new-euro-stability-fund-a-736347.html#ref=rss 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. Thu, 23 Dec 2010 12:35:55 +0100 http://www.spiegel.de/international/europe/saving-the-common-currency-berlin-denies-plans-for-a-new-euro-stability-fund-a-736347.html 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.]]> http://www.spiegel.de/international/europe/top-economists-debate-the-crisis-clinging-to-the-euro-will-only-prolong-the-agony-a-735812.html#ref=rss 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. Wed, 22 Dec 2010 13:07:00 +0100 http://www.spiegel.de/international/europe/top-economists-debate-the-crisis-clinging-to-the-euro-will-only-prolong-the-agony-a-735812.html http://www.spiegel.de/international/business/the-threat-of-insolvency-bond-leader-pimco-sees-euro-zone-in-danger-a-735657.html#ref=rss European leaders proudly announced agreement last week in efforts to save the euro. But Pimco, the world's leading investor in sovereign bonds, says that the measures are not enough. Some countries may have to temporarily leave the common currency union. Mon, 20 Dec 2010 14:01:18 +0100 http://www.spiegel.de/international/business/the-threat-of-insolvency-bond-leader-pimco-sees-euro-zone-in-danger-a-735657.html European leaders proudly announced agreement last week in efforts to save the euro. But Pimco, the world's leading investor in sovereign bonds, says that the measures are not enough. Some countries may have to temporarily leave the common currency union.]]> http://www.spiegel.de/international/europe/berlin-s-lack-of-vision-europe-turns-against-germany-a-735604.html#ref=rss Germany's controversial approach to fighting the euro crisis has split the European Union. Some countries are complaining about Berlin's rigid course, while others accuse Chancellor Merkel of betraying the European project. The only thing they can agree on is that the EU needs Germany as a motor if it is to survive. <i>By SPIEGEL Staff</i> Mon, 20 Dec 2010 10:58:00 +0100 http://www.spiegel.de/international/europe/berlin-s-lack-of-vision-europe-turns-against-germany-a-735604.html Germany's controversial approach to fighting the euro crisis has split the European Union. Some countries are complaining about Berlin's rigid course, while others accuse Chancellor Merkel of betraying the European project. The only thing they can agree on is that the EU needs Germany as a motor if it is to survive. By SPIEGEL Staff ]]> http://www.spiegel.de/international/europe/saving-the-euro-merkel-s-ironic-victory-in-brussels-a-735355.html#ref=rss It hasn't been an easy year for the EU, or for Angela Merkel. She played chief skeptic during the euro crisis, but the role ironically led her to forge a rescue mechanism for the continent's embattled currency. Fri, 17 Dec 2010 18:08:00 +0100 http://www.spiegel.de/international/europe/saving-the-euro-merkel-s-ironic-victory-in-brussels-a-735355.html It hasn't been an easy year for the EU, or for Angela Merkel. She played chief skeptic during the euro crisis, but the role ironically led her to forge a rescue mechanism for the continent's embattled currency. ]]> http://www.spiegel.de/international/europe/saving-the-common-currency-german-obstructionism-heightens-euro-fears-a-735023.html#ref=rss All eyes are on Brussels this Thursday as European leaders gather to discuss ways to solve the ongoing euro crisis. So far, though, German Chancellor Angela Merkel has proven unwilling to consider measures that may require additional German funds. Others in the EU are getting anxious. Thu, 16 Dec 2010 12:49:35 +0100 http://www.spiegel.de/international/europe/saving-the-common-currency-german-obstructionism-heightens-euro-fears-a-735023.html All eyes are on Brussels this Thursday as European leaders gather to discuss ways to solve the ongoing euro crisis. So far, though, German Chancellor Angela Merkel has proven unwilling to consider measures that may require additional German funds. Others in the EU are getting anxious.]]> http://www.spiegel.de/international/world/capitalizing-on-the-euro-crisis-china-expands-its-influence-in-europe-a-734323.html#ref=rss China is seizing on Europe's debt problems to expand its influence on the continent with large-scale investments and purchases of government bonds issued by highly-indebted states. The strategy could push Europe into the same financial dependency on China that is posing a dilemma for the US. Tue, 14 Dec 2010 16:11:00 +0100 http://www.spiegel.de/international/world/capitalizing-on-the-euro-crisis-china-expands-its-influence-in-europe-a-734323.html China is seizing on Europe's debt problems to expand its influence on the continent with large-scale investments and purchases of government bonds issued by highly-indebted states. The strategy could push Europe into the same financial dependency on China that is posing a dilemma for the US.]]> http://www.spiegel.de/international/germany/waning-influence-in-brussels-euro-crisis-leaves-germany-increasingly-isolated-a-734285.html#ref=rss German Chancellor Angela Merkel is coming under growing criticism ahead of this week's EU summit. Her preferred approach to fighting the euro crisis has failed to receive support in Europe. She is also at odds with Finance Minister Wolfgang Schäuble, whose loyalty to France has become a subject of ridicule in Berlin. <i>By SPIEGEL Staff</i> Mon, 13 Dec 2010 16:07:00 +0100 http://www.spiegel.de/international/germany/waning-influence-in-brussels-euro-crisis-leaves-germany-increasingly-isolated-a-734285.html By SPIEGEL Staff ]]> http://www.spiegel.de/international/europe/the-battle-over-the-euro-bond-juncker-calls-german-thinking-simple-a-733571.html#ref=rss Germany has resisted calls for a joint Euro-Bond to help the euro zone's weaker members, but the chairman of the euro zone finance ministers says they need to study his proposal. Merkel's spokesman says they have. Wed, 08 Dec 2010 16:39:12 +0100 http://www.spiegel.de/international/europe/the-battle-over-the-euro-bond-juncker-calls-german-thinking-simple-a-733571.html Germany has resisted calls for a joint Euro-Bond to help the euro zone's weaker members, but the chairman of the euro zone finance ministers says they need to study his proposal. Merkel's spokesman says they have.]]> http://www.spiegel.de/international/europe/drastic-cuts-and-punitive-interest-rates-the-eu-is-pushing-ireland-to-the-brink-of-ruin-a-733522.html#ref=rss The Irish government has just passed its fourth budget in two years. But the drastic savings measures it contains will not help the country's massive debt problem. Some economists are now predicting it is only a matter of time before Ireland defaults. Wed, 08 Dec 2010 13:15:00 +0100 http://www.spiegel.de/international/europe/drastic-cuts-and-punitive-interest-rates-the-eu-is-pushing-ireland-to-the-brink-of-ruin-a-733522.html The Irish government has just passed its fourth budget in two years. But the drastic savings measures it contains will not help the country's massive debt problem. Some economists are now predicting it is only a matter of time before Ireland defaults.]]> http://www.spiegel.de/international/germany/row-over-ecb-handling-of-euro-crisis-the-lonely-fight-of-monetary-dogmatist-axel-weber-a-733052.html#ref=rss The head of the German central bank, Axel Weber, is openly critical of the way the European Central Bank has handled the euro's debt woes. He is fighting to uphold purist monetary principles that are untenable in the current crisis. His chances of succeeding Jean-Claude Trichet as ECB chief are waning as a result. Mon, 06 Dec 2010 12:40:00 +0100 http://www.spiegel.de/international/germany/row-over-ecb-handling-of-euro-crisis-the-lonely-fight-of-monetary-dogmatist-axel-weber-a-733052.html The head of the German central bank, Axel Weber, is openly critical of the way the European Central Bank has handled the euro's debt woes. He is fighting to uphold purist monetary principles that are untenable in the current crisis. His chances of succeeding Jean-Claude Trichet as ECB chief are waning as a result. ]]> http://www.spiegel.de/international/europe/masterplan-fails-to-calm-markets-europe-s-new-debt-mechanism-has-come-too-late-for-euro-crisis-a-732024.html#ref=rss Europe is celebrating its new masterplan to shore up the euro -- a debt rescheduling mechansim that forces private sector creditors to write down government debt in some cases. Analysts say the system is overdue but won't solve the current crisis. Tue, 30 Nov 2010 18:29:05 +0100 http://www.spiegel.de/international/europe/masterplan-fails-to-calm-markets-europe-s-new-debt-mechanism-has-come-too-late-for-euro-crisis-a-732024.html Europe is celebrating its new masterplan to shore up the euro -- a debt rescheduling mechansim that forces private sector creditors to write down government debt in some cases. Analysts say the system is overdue but won't solve the current crisis.]]>