http://www.spiegel.de Daily news, analysis and opinion from Europe's leading newsmagazine and Germany's top news Web site. en Tue, 21 May 2013 16:11:09 +0200 Tue, 21 May 2013 16:11:09 +0200 http://www.spiegel.de http://www.spiegel.de/static/sys/logo_120x61.gif http://www.spiegel.de/international/europe/european-finance-ministers-split-on-way-forward-for-banking-union-a-899924.html#ref=rss European leaders had hoped to quickly finalize plans for an EU banking union to regulate bank bailouts and provide a roadmap for unwinding insolvent financial institutions. But with the German election looming, Berlin is wary of moving forward. The result could be a lengthy delay. Wed, 15 May 2013 10:30:55 +0200 http://www.spiegel.de/international/europe/european-finance-ministers-split-on-way-forward-for-banking-union-a-899924.html European leaders had hoped to quickly finalize plans for an EU banking union to regulate bank bailouts and provide a roadmap for unwinding insolvent financial institutions. But with the German election looming, Berlin is wary of moving forward. The result could be a lengthy delay.]]> http://www.spiegel.de/international/europe/germany-wary-of-ecb-plan-to-buy-asset-backed-securities-a-899495.html#ref=rss The European Central Bank would like to encourage banks in Southern Europe to issue more loans. But Berlin is concerned that a planned move to trigger such lending could violate EU treaties. German Finance Minister Wolfgang Schäuble has hit the brakes. Mon, 13 May 2013 12:41:41 +0200 http://www.spiegel.de/international/europe/germany-wary-of-ecb-plan-to-buy-asset-backed-securities-a-899495.html The European Central Bank would like to encourage banks in Southern Europe to issue more loans. But Berlin is concerned that a planned move to trigger such lending could violate EU treaties. German Finance Minister Wolfgang Schäuble has hit the brakes.]]> http://www.spiegel.de/international/europe/bundesbank-head-weidmann-criticizes-french-deficit-reduction-plans-a-898924.html#ref=rss German central bank head Jens Weidmann has strongly criticized French efforts to reduce its budget deficit, just days after the European Union granted Paris more time to meet EU requirements. He warns that French delays could damage the credibility of euro-zone rules. Thu, 09 May 2013 12:10:49 +0200 http://www.spiegel.de/international/europe/bundesbank-head-weidmann-criticizes-french-deficit-reduction-plans-a-898924.html German central bank head Jens Weidmann has strongly criticized French efforts to reduce its budget deficit, just days after the European Union granted Paris more time to meet EU requirements. He warns that French delays could damage the credibility of euro-zone rules.]]> http://www.spiegel.de/international/europe/us-treasury-secretary-visit-to-berlin-highlights-austerity-split-a-893368.html#ref=rss The visit of US Treasury Secretary Jacob Lew to Europe this week has highlighted the deep trans-Atlantic divide over Brussels' austerity-driven response to the euro crisis. Washington would like to see measures to stimulate growth. But none are likely to be forthcoming. Tue, 09 Apr 2013 14:32:00 +0200 http://www.spiegel.de/international/europe/us-treasury-secretary-visit-to-berlin-highlights-austerity-split-a-893368.html The visit of US Treasury Secretary Jacob Lew to Europe this week has highlighted the deep trans-Atlantic divide over Brussels' austerity-driven response to the euro crisis. Washington would like to see measures to stimulate growth. But none are likely to be forthcoming.]]> http://www.spiegel.de/international/germany/chancellor-merkel-angry-with-cyprus-as-euro-crisis-intensifies-a-890453.html#ref=rss Angela Merkel is known for her measured approach to even the most controversial issues. The crisis in Cyprus, however, has enraged the German chancellor. In parliamentary meetings on Friday morning, she did little to disguise her fury -- though she shoulders some of the blame herself. Fri, 22 Mar 2013 17:06:00 +0100 http://www.spiegel.de/international/germany/chancellor-merkel-angry-with-cyprus-as-euro-crisis-intensifies-a-890453.html Angela Merkel is known for her measured approach to even the most controversial issues. The crisis in Cyprus, however, has enraged the German chancellor. In parliamentary meetings on Friday morning, she did little to disguise her fury -- though she shoulders some of the blame herself.]]> http://www.spiegel.de/international/europe/anastasiades-victory-in-cyprus-clears-way-for-euro-zone-bailout-a-885380.html#ref=rss Cypriot voters clearly expressed their preference for a euro-zone bailout of their financially struggling nation on Sunday, electing the conservative Nicos Anastasiades to be the country's next president. But Berlin remains skeptical and immediately pressured the incoming president to speed up reforms. Mon, 25 Feb 2013 12:07:14 +0100 http://www.spiegel.de/international/europe/anastasiades-victory-in-cyprus-clears-way-for-euro-zone-bailout-a-885380.html Cypriot voters clearly expressed their preference for a euro-zone bailout of their financially struggling nation on Sunday, electing the conservative Nicos Anastasiades to be the country's next president. But Berlin remains skeptical and immediately pressured the incoming president to speed up reforms.]]> http://www.spiegel.de/international/europe/top-german-politicians-warn-italians-against-voting-for-berlusconi-a-884265.html#ref=rss Top politicians tend to remain silent on elections being held abroad. But German Foreign Minister Guido Westerwelle this week has issued a barely concealed warning to Italians against voting for Silvio Berlusconi. And he isn't the only one in Berlin who is nervous about a possible return of "Il Cavaliere." Tue, 19 Feb 2013 12:21:47 +0100 http://www.spiegel.de/international/europe/top-german-politicians-warn-italians-against-voting-for-berlusconi-a-884265.html Top politicians tend to remain silent on elections being held abroad. But German Foreign Minister Guido Westerwelle this week has issued a barely concealed warning to Italians against voting for Silvio Berlusconi. And he isn't the only one in Berlin who is nervous about a possible return of "Il Cavaliere."]]> http://www.spiegel.de/international/europe/berlin-opposition-to-cyprus-bailout-deal-waning-a-880515.html#ref=rss German leaders are concerned that emergency euro-zone aid to Cyprus will merely serve to help the Russian oligarchs who use the island nation as a tax haven. With pressure growing to approve a bailout deal, however, Berlin now appears to be changing its tune. Wed, 30 Jan 2013 13:16:00 +0100 http://www.spiegel.de/international/europe/berlin-opposition-to-cyprus-bailout-deal-waning-a-880515.html German leaders are concerned that emergency euro-zone aid to Cyprus will merely serve to help the Russian oligarchs who use the island nation as a tax haven. With pressure growing to approve a bailout deal, however, Berlin now appears to be changing its tune.]]> http://www.spiegel.de/international/europe/ecb-chief-draghi-clashes-with-german-finance-minister-over-cyprus-a-880029.html#ref=rss The head of the European Central Bank, Mario Draghi, warned German Finance Minister Wolfgang Schäuble last week not to dismiss Cyprus as not being 'systemically relevant' and said a failure to bail out the island nation could threaten the wider euro zone. Mon, 28 Jan 2013 11:31:00 +0100 http://www.spiegel.de/international/europe/ecb-chief-draghi-clashes-with-german-finance-minister-over-cyprus-a-880029.html The head of the European Central Bank, Mario Draghi, warned German Finance Minister Wolfgang Schäuble last week not to dismiss Cyprus as not being 'systemically relevant' and said a failure to bail out the island nation could threaten the wider euro zone. ]]> http://www.spiegel.de/international/europe/german-finance-minister-schaeuble-says-worst-over-in-euro-crisis-a-874934.html#ref=rss German Finance Minister Wolfgang Schäuble said on Friday that he believes "we have the worst behind us" in the euro crisis. But not everyone agrees. A leading government advisor warns that risks are looming in Italy and even Merkel isn't ready to sound the all-clear just yet. Fri, 28 Dec 2012 12:22:23 +0100 http://www.spiegel.de/international/europe/german-finance-minister-schaeuble-says-worst-over-in-euro-crisis-a-874934.html German Finance Minister Wolfgang Schäuble said on Friday that he believes "we have the worst behind us" in the euro crisis. But not everyone agrees. A leading government advisor warns that risks are looming in Italy and even Merkel isn't ready to sound the all-clear just yet.]]> http://www.spiegel.de/international/germany/imf-head-lagarde-warns-germany-over-possible-austerity-plan-a-874782.html#ref=rss Germany should move slower on fiscal consolidation and savings to counteract the economic effects of austerity programs currently throttling growth in Southern Europe, argues Christine Lagarde. Still, the IMF chief remains cautiously optimistic about the euro-zone's economic prospects for the next year. Thu, 27 Dec 2012 12:10:56 +0100 http://www.spiegel.de/international/germany/imf-head-lagarde-warns-germany-over-possible-austerity-plan-a-874782.html Germany should move slower on fiscal consolidation and savings to counteract the economic effects of austerity programs currently throttling growth in Southern Europe, argues Christine Lagarde. Still, the IMF chief remains cautiously optimistic about the euro-zone's economic prospects for the next year.]]> http://www.spiegel.de/international/europe/euro-zone-bank-oversight-deal-is-bad-for-germany-a-873191.html#ref=rss German Chancellor Angela Merkel was full of praise for the euro-zone bank oversight plan passed last week at the EU summit in Brussels. But the deal is not nearly as watertight as she claimed. It lacks a legal foundation and could lead to a conflict of interest at the highest levels of the European Central Bank. Mon, 17 Dec 2012 16:43:55 +0100 http://www.spiegel.de/international/europe/euro-zone-bank-oversight-deal-is-bad-for-germany-a-873191.html German Chancellor Angela Merkel was full of praise for the euro-zone bank oversight plan passed last week at the EU summit in Brussels. But the deal is not nearly as watertight as she claimed. It lacks a legal foundation and could lead to a conflict of interest at the highest levels of the European Central Bank.]]> http://www.spiegel.de/international/europe/euro-zone-finance-ministers-agree-to-bank-oversight-deal-a-872680.html#ref=rss Euro-zone finance ministers agreed early Thursday on a far-reaching deal for the creation of an oversight authority for the currency zone's largest banks. The agreement will also allow troubled financial institutions to borrow money directly from European emergency bailout funds. Thu, 13 Dec 2012 11:14:48 +0100 http://www.spiegel.de/international/europe/euro-zone-finance-ministers-agree-to-bank-oversight-deal-a-872680.html Euro-zone finance ministers agreed early Thursday on a far-reaching deal for the creation of an oversight authority for the currency zone's largest banks. The agreement will also allow troubled financial institutions to borrow money directly from European emergency bailout funds.]]> http://www.spiegel.de/politik/deutschland/spd-und-union-beharken-sich-vor-sitzung-des-vermittlungsausschusses-a-872262.html#ref=rss Es sind wichtige Vorhaben, die Union und Liberale noch vor Jahresende durch den Vermittlungsausschuss bringen wollen. Doch vor der entscheidenden Sitzung droht Rot-Grün mit einem Nein - der Abbau von Steuerungerechtigkeiten dürfte damit gescheitert sein. Wed, 12 Dec 2012 06:18:00 +0100 http://www.spiegel.de/politik/deutschland/spd-und-union-beharken-sich-vor-sitzung-des-vermittlungsausschusses-a-872262.html Es sind wichtige Vorhaben, die Union und Liberale noch vor Jahresende durch den Vermittlungsausschuss bringen wollen. Doch vor der entscheidenden Sitzung droht Rot-Grün mit einem Nein - der Abbau von Steuerungerechtigkeiten dürfte damit gescheitert sein.]]> http://www.spiegel.de/international/europe/as-juncker-steps-down-french-minister-moscovici-could-head-euro-group-a-870871.html#ref=rss Jean-Claude Juncker has had enough, announcing on Monday evening in Brussels that he is stepping down as head of the Euro Group at the end of the year. Who, though, will take over? With elections in Germany looming, all signs point to French Finance Minister Pierre Moscovici. Tue, 04 Dec 2012 12:50:25 +0100 http://www.spiegel.de/international/europe/as-juncker-steps-down-french-minister-moscovici-could-head-euro-group-a-870871.html Jean-Claude Juncker has had enough, announcing on Monday evening in Brussels that he is stepping down as head of the Euro Group at the end of the year. Who, though, will take over? With elections in Germany looming, all signs point to French Finance Minister Pierre Moscovici.]]> http://www.spiegel.de/international/germany/german-parliament-votes-to-approve-new-greece-aid-package-a-870259.html#ref=rss Despite serious doubts over Chancellor Angela Merkel's handling of the euro crisis among the center-left, German parliamentarians on Friday voted to approve a new round of aid measures for Greece. Most Germans, however, would prefer to see the country go bankrupt. Fri, 30 Nov 2012 15:36:49 +0100 http://www.spiegel.de/international/germany/german-parliament-votes-to-approve-new-greece-aid-package-a-870259.html http://www.spiegel.de/international/europe/german-commentators-say-greece-debt-deal-delays-the-inevitable-a-869768.html#ref=rss For the third time, European finance ministers this week have put together a package of aid measures for Greece and assured Europeans that the country is now back on track to financial health. But is it really? German commentators certainly don't think so. Wed, 28 Nov 2012 12:27:37 +0100 http://www.spiegel.de/international/europe/german-commentators-say-greece-debt-deal-delays-the-inevitable-a-869768.html For the third time, European finance ministers this week have put together a package of aid measures for Greece and assured Europeans that the country is now back on track to financial health. But is it really? German commentators certainly don't think so.]]> http://www.spiegel.de/international/germany/greece-aid-deal-to-cost-germany-billions-in-revenues-a-869706.html#ref=rss Finance Minister Wolfgang Schäuble insisted on Tuesday that the new deal aimed at slashing Greece's debt load won't cost German taxpayers. It will, however, deny Germany billions in expected revenues. And the feared debt cut may be just around a not-too-distant corner. Wed, 28 Nov 2012 10:38:14 +0100 http://www.spiegel.de/international/germany/greece-aid-deal-to-cost-germany-billions-in-revenues-a-869706.html Finance Minister Wolfgang Schäuble insisted on Tuesday that the new deal aimed at slashing Greece's debt load won't cost German taxpayers. It will, however, deny Germany billions in expected revenues. And the feared debt cut may be just around a not-too-distant corner.]]> http://www.spiegel.de/international/europe/germany-remains-adamant-in-refusal-to-forgive-greek-debt-a-869300.html#ref=rss The International Monetary Fund believes that the only way to reduce Greek debt to a sustainable level is by way of a debt haircut involving the country's government creditors. But with an election approaching, Germany has refused to consider the proposal. Reality is on the IMF's side. <i>By SPIEGEL Staff</i> Mon, 26 Nov 2012 12:44:00 +0100 http://www.spiegel.de/international/europe/germany-remains-adamant-in-refusal-to-forgive-greek-debt-a-869300.html The International Monetary Fund believes that the only way to reduce Greek debt to a sustainable level is by way of a debt haircut involving the country's government creditors. But with an election approaching, Germany has refused to consider the proposal. Reality is on the IMF's side. By SPIEGEL Staff ]]> http://www.spiegel.de/international/germany/germans-support-merkel-amid-doubts-about-government-performance-a-868034.html#ref=rss Almost 70 percent of Germans believe that Angela Merkel's government pursues special interests to the detriment of the public good. Sixty-five percent say her government isn't doing enough to address Germany's future problems. Yet the chancellor remains the country's most popular politician, far ahead of her challenger in next year's general elections. Mon, 19 Nov 2012 12:05:00 +0100 http://www.spiegel.de/international/germany/germans-support-merkel-amid-doubts-about-government-performance-a-868034.html