Scion of Austerity: A Tall Order for New Greek Reform Minister

Scion of Austerity: A Tall Order for New Greek Reform Minister

SPIEGEL ONLINE - September 03, 2013

Kyriakos Mitsotakis has only been minister for administrative reform for a few weeks. But he is already under heavy pressure from the troika to reduce Greek spending. To show he means business, the ambitious son of an old political family will soon cut thousands of jobs. By Julia Amalia Heyer more... Comment ]

Viva la Siesta: Should Southern Europe Really Be More German?

Viva la Siesta: Should Southern Europe Really Be More German?

SPIEGEL ONLINE - June 28, 2013

In the wake of the euro crisis, Southern Europeans have increasingly traded their traditions of leisure for more work and more consumption -- often at Germany's prodding. As backlash sets in, this logic must be questioned. An Essay by Max A. Höfer more... Comment ]

Wealth Report Criticism: Merkel Says Germans Richer than Statistics Suggest

Wealth Report Criticism: Merkel Says Germans Richer than Statistics Suggest

SPIEGEL ONLINE - April 19, 2013

Germans are more prosperous than a recent ECB survey indicates, Chancellor Angela Merkel insists. With a number of caveats distorting its results, the controversial report did not factor in the country's generous social policy, she says. 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 Manila Model: Plan Would Place Burden for Euro Rescue on Creditors

The Manila Model: Plan Would Place Burden for Euro Rescue on Creditors

SPIEGEL ONLINE - January 24, 2011

Despite public denials, euro zone governments are currently working on a proposal to relieve Greek bond debt. The proposal has a number of advantages for all countries involved, but it also entails risks that may be insurmountable. Some believe regulatory pressure will be required to force banks to take voluntary losses on their loans to Athens. By Peter Müller and Christian Reiermann more... Comment ]

SPIEGEL Interview with Economist Nouriel Roubini: 'Europe Needs Growth to Prevent a Collapse of the Euro'

SPIEGEL Interview with Economist Nouriel Roubini: 'Europe Needs Growth to Prevent a Collapse of the Euro'

SPIEGEL ONLINE - January 11, 2011

Europe, says star economist Nouriel Roubini, needs to take immediate action to shore up the euro. In an interview with SPIEGEL, Roubini said Germany must provide more money to defend the common currency and allow the European Central Bank to loosen monetary policy. Otherwise, disaster could be looming. more... Comment ]

'The Threat of Insolvency': Bond Leader Pimco Sees Euro Zone in Danger

'The Threat of Insolvency': Bond Leader Pimco Sees Euro Zone in Danger

SPIEGEL ONLINE - December 20, 2010

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. more...

Berlin's Lack of Vision: Europe Turns against Germany

Berlin's Lack of Vision: Europe Turns against Germany

SPIEGEL ONLINE - December 20, 2010

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 more... Comment ]

Saving the Common Currency: German Obstructionism Heightens Euro Fears

Saving the Common Currency: German Obstructionism Heightens Euro Fears

SPIEGEL ONLINE - December 16, 2010

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. By Charles Hawley more...