Tag Archives: Germany

The euro crisis will give Germany the empire it’s always dreamed of – Telegraph Blogs

The euro crisis will give Germany the empire it’s always dreamed of – Telegraph Blogs.

Peter Oborne
Peter Oborne is the Daily Telegraph‘s chief political commentator.

The euro crisis will give Germany the empire it’s always dreamed of

By Peter Oborne

Last updated: July 21st, 2011

Many of the biggest losers from the Wall Street Crash were not those greedy speculators who bought at the very top of the market. There was also a category of investor who recognised that stocks had become badly overvalued, sold their shares in the summer or autumn of 1928, then waited patiently as the market surged onwards to ever more improbable highs.

When the crash came in October 1929, they felt thoroughly vindicated, and waited for the dust to settle. The following spring, when share prices had consolidated at around a third lower than the all-time high reached the previous year, they reinvested the family savings, probably feeling a bit smug. Then, on April 17, 1930, the market embarked on a second and even more shattering period of decline, by the end of which shares were worth barely 10 per cent of their value at their peak. Those prudent investors who had seen the Wall Street Crash coming were wiped out.

There was one crucial message from yesterday’s shambolic and panicky eurozone summit: today’s predicament contains terrifying parallels with the situation that prevailed 80 years ago, although the problem lies (at this stage, at least) with the debt rather than the equity markets.

[…]

Read the full story here: The Daily Telegraph

1 Comment

Filed under Britain, broadsheets, European Union, Germany, Media, news & comments, notes and musings from a small island, politics, tabloids

Monetary union, always unworkable, has set in train a European disaster | Simon Jenkins | Comment is free | The Guardian

Monetary union, always unworkable, has set in train a European disaster | Simon Jenkins | Comment is free | The Guardian

Monetary union, always unworkable, has set in train a European disaster

The eurozone is edging closer to doomed fiscal union. But sceptics shouldn’t celebrate, as the chaos will reach Britain too

guardian.co.uk, Thursday 21 July 2011 21.00 BST

At last, a real crisis. The Franco-German salvage operation for the eurozone was inevitable for the simple reason that Armageddon never happens. Nicolas Sarkozy and Angela Merkel patched together yet another “temporary” bail-out for the Greeks, and will do so for the Portuguese and Irish if need be. German taxpayers will pay the Greeks’ bills and aid Europe‘s banks as they continue to profit from 20% interest on their sovereign loans. Power always wins, so long as it can get someone else to pay.

[…]

Read the full story here: The Guardian

Leave a comment

Filed under Britain, European Union, Germany, news & comments, notes and musings from a small island, politics, The Guardian

Two cheers for Germany – PostPartisan – The Washington Post

Two cheers for Germany – PostPartisan – The Washington Post.

By

Charles Lane has taken me to task for my repeated championing of the German economic model – a topic, he notes, to which I return as frequently as he does to electric cars. What’s the point of this German obsession, he wonders. Do I really think the United States can make the kind of structural changes to the economy that have served Germany so well? And do I really think we can do it quickly enough to help us find a way out of the Great Recession?

The short answer is No and No.[…]

Read the full story here: Washington Post

Leave a comment

Filed under news & comments, notes and musings from a big country, politics, USA

Osama Bin Laden: Das falsche Mitgefühl des Jakob Augstein – Nachrichten Kultur – WELT ONLINE

Das falsche Mitgefühl des Jakob Augstein

Der Publizist Jakob Augstein hält den Tod des Terrorpaten für eine unmenschliche Hinrichtung. So hätte auch Ribbentrop in Nürnberg argumentieren können.

Jedes Mal, wenn ich eine Kolumne von Jakob Augstein lese, frage ich mich: Wie kann ein so kluger, gebildeter und sympathischer Mensch so einen Unsinn schreiben? Liegt es an der Berliner Luft, die ihm zu schaffen macht? An den großen Fußstapfen, in denen er wandelt? Oder will er nur seinen Lesern entgegenkommen, die er aus der Restekiste der DDR übernommen hat?

Was immer es sein mag, jetzt hat Jakob Augstein sich selbst überholt.

zum vollständigen Artikel geht es hier:  Osama Bin Laden: Das falsche Mitgefühl des Jakob Augstein – Nachrichten Kultur – WELT ONLINE.

Leave a comment

Filed under Germany, news & comments

Was am Ende herauskommt

“Einer meiner Vorgänger hat ja mal gesagt, entscheidend ist, was hinten raus kommt, und nicht, wie man es erreicht hat. Und diesem Motto fühle ich mich verpflichtet, obwohl es ein männliches Wesen war.”

Angela Merkel, zitiert nach  “Weltlage“, dem Online-Newsletter der WELT.

Etwas unglückliche Wortwahl, oder nicht? Ich finde das, “was hinten herauskommt”, nicht unbedingt ansehens-, anfassens- oder anriechenswert. Man könnte also denken, die derzeitigen Ergebnisse von Merkels Politik seien “Sch***e”.  Und nimmt man diese Aussage im übertragenen Sinne, so wie sie sicherlich gemeint war, dann liegt sie sehr nahe bei “der Zweck heiligt die Mittel”. Und auch das ist bedenklich.

Leave a comment

Filed under Germany, miscellaneous, politics, Politikersprüche