http://www.spiegel.de Daily news, analysis and opinion from Europe's leading newsmagazine and Germany's top news Web site. en Mon, 20 May 2013 19:49:39 +0200 Mon, 20 May 2013 19:49:39 +0200 http://www.spiegel.de http://www.spiegel.de/static/sys/logo_120x61.gif http://www.spiegel.de/international/europe/ireland-seeks-to-have-europe-share-in-risk-of-ailing-banking-sector-a-876124.html#ref=rss Ireland's reform policies have been widely praised for helping it emerge from the crisis, but the truth is bleaker. If the government fails to get European taxpayers to assume some of the risk of its ailing banking sector, the country could soon require another bailout. Mon, 07 Jan 2013 14:26:00 +0100 http://www.spiegel.de/international/europe/ireland-seeks-to-have-europe-share-in-risk-of-ailing-banking-sector-a-876124.html Ireland's reform policies have been widely praised for helping it emerge from the crisis, but the truth is bleaker. If the government fails to get European taxpayers to assume some of the risk of its ailing banking sector, the country could soon require another bailout.]]> http://www.spiegel.de/international/europe/german-report-crisis-hit-countries-have-become-more-competitive-a-852813.html#ref=rss The euro zone's crisis-hit countries are becoming more competitive, according to a new German study. Wage costs are down, and the countries are reducing their trade imbalances. Painful reforms appear to be slowly bearing fruit, and the euro zone might even return to growth next year. Wed, 29 Aug 2012 17:49:55 +0200 http://www.spiegel.de/international/europe/german-report-crisis-hit-countries-have-become-more-competitive-a-852813.html The euro zone's crisis-hit countries are becoming more competitive, according to a new German study. Wage costs are down, and the countries are reducing their trade imbalances. Painful reforms appear to be slowly bearing fruit, and the euro zone might even return to growth next year.]]> http://www.spiegel.de/international/europe/ireland-still-faces-problems-in-overcoming-debt-crisis-a-836758.html#ref=rss Irish voters have approved the fiscal pact in a closely watched referendum, to the relief of European leaders. But the country is still a long way from solving its debt crisis, and its banks will soon need additional billions in fresh capital. Mon, 04 Jun 2012 08:55:00 +0200 http://www.spiegel.de/international/europe/ireland-still-faces-problems-in-overcoming-debt-crisis-a-836758.html Irish voters have approved the fiscal pact in a closely watched referendum, to the relief of European leaders. But the country is still a long way from solving its debt crisis, and its banks will soon need additional billions in fresh capital. ]]> http://www.spiegel.de/international/europe/irish-vote-yes-in-fiscal-pact-referendum-a-836483.html#ref=rss Ireland has approved the European fiscal pact in a closely watched referendum, averting a possible setback for a key element of Chancellor Merkel's approach to fighting the euro crisis. Although analysts say it's a sign of support for Europe, they point out that Ireland still has more serious problems to worry about. Fri, 01 Jun 2012 15:48:00 +0200 http://www.spiegel.de/international/europe/irish-vote-yes-in-fiscal-pact-referendum-a-836483.html Ireland has approved the European fiscal pact in a closely watched referendum, averting a possible setback for a key element of Chancellor Merkel's approach to fighting the euro crisis. Although analysts say it's a sign of support for Europe, they point out that Ireland still has more serious problems to worry about.]]> http://www.spiegel.de/international/europe/irish-engage-in-intense-debate-over-euro-zone-fiscal-pact-referendum-a-836006.html#ref=rss 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. Wed, 30 May 2012 15:44:00 +0200 http://www.spiegel.de/international/europe/irish-engage-in-intense-debate-over-euro-zone-fiscal-pact-referendum-a-836006.html 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. ]]> http://www.spiegel.de/international/europe/fiscal-pact-referendum-a-decisive-moment-for-ireland-in-europe-a-818313.html#ref=rss Irish Prime Minister Enda Kenny has announced his country will hold a referendum on Europe's fiscal pact. A "no" vote in Ireland could cause uncertainty on the financial markets and even put the future of the common currency in doubt. But with the country still dependent on EU aid, the Irish can't afford to say no. Wed, 29 Feb 2012 11:46:00 +0100 http://www.spiegel.de/international/europe/fiscal-pact-referendum-a-decisive-moment-for-ireland-in-europe-a-818313.html Irish Prime Minister Enda Kenny has announced his country will hold a referendum on Europe's fiscal pact. A "no" vote in Ireland could cause uncertainty on the financial markets and even put the future of the common currency in doubt. But with the country still dependent on EU aid, the Irish can't afford to say no.]]> http://www.spiegel.de/international/europe/winning-merkel-s-praise-amid-quiet-suffering-irish-pave-road-to-recovery-a-797736.html#ref=rss Ireland, which has received billions in aid from the European Union and the International Monetary Fund, is setting the example for how to make painful cuts to get the country back on track in the debt crisis. But the success of the country's rescue will also hinge on economic developments in Europe and the United States.   Tue, 15 Nov 2011 20:00:00 +0100 http://www.spiegel.de/international/europe/winning-merkel-s-praise-amid-quiet-suffering-irish-pave-road-to-recovery-a-797736.html Ireland, which has received billions in aid from the European Union and the International Monetary Fund, is setting the example for how to make painful cuts to get the country back on track in the debt crisis. But the success of the country's rescue will also hinge on economic developments in Europe and the United States.  ]]> http://www.spiegel.de/international/europe/debt-quicksand-europe-fights-the-growing-currency-crisis-a-774483.html#ref=rss For a while, Europe's common currency crisis seemed to be cooling down. But this week Italy joined other debt-ridden euro-zone countries in the crosshairs of the financial markets. Europe's indebted nations are fighting to get their houses in order -- with some success. Thu, 14 Jul 2011 18:08:46 +0200 http://www.spiegel.de/international/europe/debt-quicksand-europe-fights-the-growing-currency-crisis-a-774483.html For a while, Europe's common currency crisis seemed to be cooling down. But this week Italy joined other debt-ridden euro-zone countries in the crosshairs of the financial markets. Europe's indebted nations are fighting to get their houses in order -- with some success.]]> http://www.spiegel.de/international/europe/darkening-clouds-irish-debt-downgraded-as-euro-worries-spread-a-774099.html#ref=rss Just one week after downgrading Portuguese debt to junk status, the rating agency Moody's has slashed its rating of Irish debt. The move comes despite growing official anger in Europe at the power of the big three rating agencies. But a new aid package for Ireland, Moody's believes, may be unavoidable. Wed, 13 Jul 2011 09:23:00 +0200 http://www.spiegel.de/international/europe/darkening-clouds-irish-debt-downgraded-as-euro-worries-spread-a-774099.html Just one week after downgrading Portuguese debt to junk status, the rating agency Moody's has slashed its rating of Irish debt. The move comes despite growing official anger in Europe at the power of the big three rating agencies. But a new aid package for Ireland, Moody's believes, may be unavoidable.]]> http://www.spiegel.de/international/europe/fighting-for-europe-how-european-elites-lost-a-generation-a-769831.html#ref=rss The European Union is in bad shape. Not only is the common currency in a shambles and the economies of many member states moribund, but young Europeans no longer see how the EU helps them. Millions of them are taking to the streets to demand a future. <i>By SPIEGEL Staff</i> Thu, 23 Jun 2011 16:31:00 +0200 http://www.spiegel.de/international/europe/fighting-for-europe-how-european-elites-lost-a-generation-a-769831.html The European Union is in bad shape. Not only is the common currency in a shambles and the economies of many member states moribund, but young Europeans no longer see how the EU helps them. Millions of them are taking to the streets to demand a future. By SPIEGEL Staff ]]> 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/world/guinness-diplomacy-o-bama-goes-back-to-his-roots-at-start-of-european-visit-a-764429.html#ref=rss Three-percent Irishman "Barack O'Bama" began his European visit at his ancestral home in Ireland on Monday. The US president is using the tour to generate important photos for his re-election campaign. But his meetings with the leaders of Britain and France are also aimed at boosting the Atlantic alliance. Mon, 23 May 2011 18:43:00 +0200 http://www.spiegel.de/international/world/guinness-diplomacy-o-bama-goes-back-to-his-roots-at-start-of-european-visit-a-764429.html Three-percent Irishman "Barack O'Bama" began his European visit at his ancestral home in Ireland on Monday. The US president is using the tour to generate important photos for his re-election campaign. But his meetings with the leaders of Britain and France are also aimed at boosting the Atlantic alliance. ]]> http://www.spiegel.de/international/europe/queen-elizabeth-in-ireland-royal-charm-offensive-has-irish-eyes-smiling-a-763293.html#ref=rss Her outfit was a symbolic green, and a rare smile was planted firmly on her face -- Queen Elizabeth II made all the right gestures at the beginning of her state visit to Ireland. But a fear of violence continues to overshadow the four-day stay. Wed, 18 May 2011 12:51:01 +0200 http://www.spiegel.de/international/europe/queen-elizabeth-in-ireland-royal-charm-offensive-has-irish-eyes-smiling-a-763293.html Her outfit was a symbolic green, and a rare smile was planted firmly on her face -- Queen Elizabeth II made all the right gestures at the beginning of her state visit to Ireland. But a fear of violence continues to overshadow the four-day stay.]]> http://www.spiegel.de/international/europe/new-euro-threat-emerges-irish-banks-fail-stress-tests-a-754452.html#ref=rss Ireland's banks performed so badly in the latest EU stress tests that the country's last remaining major independent financial institutions will likely be nationalized. The entire banking sector is set to radically shrink, but that might carry significant risks for Ireland's European partners. Fri, 01 Apr 2011 11:52:00 +0200 http://www.spiegel.de/international/europe/new-euro-threat-emerges-irish-banks-fail-stress-tests-a-754452.html Ireland's banks performed so badly in the latest EU stress tests that the country's last remaining major independent financial institutions will likely be nationalized. The entire banking sector is set to radically shrink, but that might carry significant risks for Ireland's European partners. ]]> http://www.spiegel.de/international/europe/castles-in-the-sky-the-fundamental-problem-with-efforts-to-save-the-euro-a-753509.html#ref=rss In the battle to save its common currency, Europe is too busy focusing on the same old failed policies. Rather than set aside ever higher sums for bailouts, the bloc needs to set up an independent institution to oversee the debts of EU nations. Wed, 30 Mar 2011 08:24:37 +0200 http://www.spiegel.de/international/europe/castles-in-the-sky-the-fundamental-problem-with-efforts-to-save-the-euro-a-753509.html In the battle to save its common currency, Europe is too busy focusing on the same old failed policies. Rather than set aside ever higher sums for bailouts, the bloc needs to set up an independent institution to oversee the debts of EU nations.]]> http://www.spiegel.de/international/europe/breakthrough-in-brussels-european-leaders-agree-to-euro-rescue-program-a-753145.html#ref=rss EU leaders achieved a breakthrough in Brussels on Thursday night, reaching a deal on the permanent crisis fund that will come into effect in 2013. Nevertheless, worries that Portugal could soon require emergency aid money loomed large over the talks. Fri, 25 Mar 2011 13:27:00 +0100 http://www.spiegel.de/international/europe/breakthrough-in-brussels-european-leaders-agree-to-euro-rescue-program-a-753145.html EU leaders achieved a breakthrough in Brussels on Thursday night, reaching a deal on the permanent crisis fund that will come into effect in 2013. Nevertheless, worries that Portugal could soon require emergency aid money loomed large over the talks.]]> http://www.spiegel.de/international/europe/ireland-gets-a-new-prime-minister-with-new-government-eu-could-become-next-battleground-a-748085.html#ref=rss Ireland's future prime minister has a tough job ahead of him: Voters who backed Enda Kenny expect him to take a tough line and renegotiate the terms of the country's EU bailout. Some are hoping that his ties with German Chancellor Angela Merkel will lend a helping hand. Mon, 28 Feb 2011 12:46:00 +0100 http://www.spiegel.de/international/europe/ireland-gets-a-new-prime-minister-with-new-government-eu-could-become-next-battleground-a-748085.html Ireland's future prime minister has a tough job ahead of him: Voters who backed Enda Kenny expect him to take a tough line and renegotiate the terms of the country's EU bailout. Some are hoping that his ties with German Chancellor Angela Merkel will lend a helping hand. ]]> http://www.spiegel.de/international/europe/rage-against-the-political-machine-election-will-herald-a-new-era-in-ireland-a-747467.html#ref=rss When the Irish vote in the country's general election on Friday, they will be keen to punish those politicians they see as responsible for the country's sorry state. But the hands of the next government will be tied by the European Union, whose multi-billion bailout gives it power over the nation's fate. Thu, 24 Feb 2011 16:05:00 +0100 http://www.spiegel.de/international/europe/rage-against-the-political-machine-election-will-herald-a-new-era-in-ireland-a-747467.html When the Irish vote in the country's general election on Friday, they will be keen to punish those politicians they see as responsible for the country's sorry state. But the hands of the next government will be tied by the European Union, whose multi-billion bailout gives it power over the nation's fate.]]> http://www.spiegel.de/international/zeitgeist/oil-giant-gets-a-shelling-david-versus-goliath-off-the-irish-coast-a-745749.html#ref=rss The documentary "The Pipe," shown during the Berlinale film festival, tells the story of residents in a remote Irish coastal community who took on the oil giant Shell, and their own government. SPIEGEL ONLINE spoke to the director about the residents' David and Goliath struggle. Fri, 18 Feb 2011 17:37:00 +0100 http://www.spiegel.de/international/zeitgeist/oil-giant-gets-a-shelling-david-versus-goliath-off-the-irish-coast-a-745749.html http://www.spiegel.de/international/europe/the-manila-model-plan-would-place-burden-for-euro-rescue-on-creditors-a-741268.html#ref=rss 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. Mon, 24 Jan 2011 16:01:46 +0100 http://www.spiegel.de/international/europe/the-manila-model-plan-would-place-burden-for-euro-rescue-on-creditors-a-741268.html 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. ]]>