Keyword: socialmarketeconomy

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  • For Europe’s vast unemployed, hopes remain dim

    09/06/2014 6:19:31 AM PDT · by Olog-hai · 6 replies
    Associated Press ^ | Sep 6, 2014 9:02 AM EDT | Paul Wiseman
    For the struggling Spanish shopkeeper or the Portuguese restaurant owner, the European Central Bank’s latest economic stimulus plans won’t likely provide much relief anytime soon. If ever. Confronting a stalled economy and painful unemployment across Europe, the ECB is doing what it can. It surprised economists and investors Thursday by cutting its benchmark interest rate to a record-low 0.05 percent. And it announced plans to pump money into the financial system by buying bonds backed by assets such as auto and credit-card loans. But Europe faces a crushing array of problems—from burdensome regulations to growth-killing budget policies—that analysts say remain...
  • Dying town centers seek the miracle cure (Germany)

    08/21/2014 1:34:28 AM PDT · by Olog-hai · 7 replies
    TheLocal.de ^ | 20 Aug 2014 15:50 GMT+02:00 | Tomas Urbina
    Home to two thirds of Germany’s population, many of its small cities and towns are struggling to revive their declining centers. […] Big box stores on their outskirts, online shops and the proximity of larger, better serviced cities have all eaten away at the share of the retail market available to businesses that once thrived in smaller towns, says the expert in trade and retail at Niederrhein University. In Delmenhorst, it’s a perfect storm. The retiree Bieler has watched big retail chains like Kik and Kaufland set up and thrive on the outskirts. And he’s seen how people gravitated more...
  • 1 in 4 plagiarized tech goods made in Germany

    08/08/2014 5:33:04 PM PDT · by Olog-hai · 1 replies
    TheLocal.de ^ | 08 Aug 2014 16:45 GMT+02:00 | (DDP/The Local)
    German companies are ranked second in the world for industrial plagiarism, a global study released on Friday found. Just under a quarter of all plagiarized technical products examined were sold by a German company, the study by the Federation of German Machine and Equipment Builders (VDMA) has found. Germany was behind China, but ahead of Turkey and India in terms of the number of copies sold. Most German firms involved in plagiarism targeted competitors in the high-tech sector, in contrast to Chinese manufacturers, which usually copied low-quality goods. …
  • Canada-EU free trade deal may pave way for US agreement

    08/06/2014 10:38:43 PM PDT · by Berlin_Freeper · 1 replies
    bbc.com ^ | 6 August 2014 | BBC
    Canada and the European Union have agreed the final text for a free trade agreement that could provide a blueprint for a US-EU trade deal. Tuesday's deal will cut tariffs between Canada and the EU by 98% and could boost trade by 20%, or about $20bn.
  • Germany’s students fail to graduate in time

    07/28/2014 10:25:33 PM PDT · by Olog-hai · 5 replies
    TheLocal.de ^ | 28 Jul 2014 14:32 GMT+02:00
    Leaked figures show the average student in Germany still takes around four years to complete a bachelor’s degree, suggesting controversial reforms to higher education have so far failed to cut down the number of Germany’s perpetual students. Reforms to reduce degree times have not yet cut down on numbers of so-called “Dauerstudenten”—eternal students who can take up to six years for their undergraduate degree before embarking on a lengthy master's course. Under the old German system, students were allowed to take semesters off to work, earn cash, travel, do work experience placements or study abroad. This led to lengthy degrees...
  • US Ambassador: Beyond growth, TTIP must happen for geostrategic reasons

    07/17/2014 12:31:27 PM PDT · by Olog-hai · 6 replies
    EurActiv ^ | 17/07/2014 - 12:14 | (Daniela Vincenti)
    The United States and Europe must work constructively to finalise the Transatlantic Trade and Investment Partnership not only to boost jobs and growth. “There are critical geostrategic reasons to get this deal done, and every day I am reminded of the global context of why we are negotiating TTIP,” said US Ambassador to the EU, Anthony Gardner in an exclusive interview with EurActiv. Anthony L. Gardner was sworn in as the US Ambassador to the European Union on February 18, 2014. Prior to assuming his current position, for six years, Ambassador Gardner was Managing Director at Palamon Capital Partners, a...
  • German draft law clears path for EU to directly fund ailing banks

    07/11/2014 10:12:12 AM PDT · by Olog-hai
    EU Observer ^ | 07/10/14 @ 11:04 | Benjamin Fox
    The EU’s bailout fund has moved closer to being able to directly pump money into troubled banks after the German government introduced a bill allowing direct bank recapitalization. The draft law will now require approval in the Bundestag, but is planned to enter into force in November. “This is an important step to stabilize our financial sector … and to increase further the trust in our common European currency,” said finance minister Wolfgang Schäuble on Wednesday (9 July). He added that the law would help “rule out the risk that the taxpayer would have to accept liability, as in the...
  • Europe’s attention finally shifts from bailouts to tax cuts

    07/08/2014 10:23:15 AM PDT · by Olog-hai · 4 replies
    EU Observer ^ | 07/08/14 @ 19:10 | Benjamin Fox
    It is a sign that the European economy is no longer in crisis territory that tax cuts rather than bailouts dominated Monday’s (7 July) meeting of eurozone finance ministers. Ministers at the monthly Eurogroup meeting agreed to sign off the next €1 billion tranche of Greece’s bailout program almost as an afterthought. Instead, the main item of discussion focused on how they can cut business costs and increase the pay packet of the average European. In its annual set of economic recommendations to the EU’s 28 countries last month, the European Commission urged 11 euro-area countries to reduce their so-called...
  • Merkel argues for sustainability, economic growth

    07/08/2014 2:31:51 AM PDT · by Olog-hai · 4 replies
    Associated Press ^ | Jul. 8, 2014 3:06 AM EDT
    German Chancellor Angela Merkel called on Chinese youth on Tuesday to help protect the environment and conserve energy, telling a group of elite university students that sustainability does not have to come at the cost of economic growth and can ensure a better world. In a speech at Tsinghua University in Beijing, one of China’s top universities, Merkel said it does not make sense to separate economic performance, environmental protection and social responsibility. “Sustainable development does not sacrifice economic growth. This is a misunderstanding. Sustainable development gives us a new opportunity to create wealth,” Merkel said at the end of...
  • [UK] Work program ‘incompatible’ with EU human rights laws, says judge

    07/04/2014 7:31:55 AM PDT · by Olog-hai · 7 replies
    Daily Telegraph (UK) ^ | 11:53AM BST 04 Jul 2014 | Peter Dominiczak
    Iain Duncan Smith has pledged to appeal after a judge ruled that emergency legislation introduced over a flagship back-to-work program is “incompatible” with European human rights laws. The Department for Work and Pensions (DWP) said that it “disagrees” with Mrs. Justice Lang, who said that retrospective legislation introduced interfered with the “right to a fair trial” under the European Convention on Human Rights. Human rights lawyers said the judgment was a “damning assessment” and, if upheld on appeal, could lead to some £130 million having to be paid out to thousands of jobseeker’s allowance claimants denied benefits under the schemes....
  • The student dream? Make me a bureaucrat (Germany)

    07/03/2014 8:41:24 AM PDT · by Olog-hai · 8 replies
    TheLocal.de ^ | 03 Jul 2014 07:59 CET
    Students at German universities have shown themselves to be a risk-free lot in a survey by Ernst & Young. The civil service is their most popular choice of future profession, while job security is valued above all else. […] The number was higher for female students (36 percent), but government work also came in first among men with 23 percent choosing it as their preferred career path. […] Other future positions popular with students were in the fields of science (19 percent) and culture (17 percent). Consultants and auditors were the private sector jobs most interesting for students in Germany...
  • Parliament passes minimum wage bill (Germany)

    07/03/2014 8:35:22 AM PDT · by Olog-hai · 2 replies
    TheLocal.de ^ | 03 Jul 2014 13:30 GMT+02:00 | (DPA/The Local)
    German lawmakers on Thursday voted to introduce a minimum wage of €8.50 per hour, despite criticism from both unions and employers of the new law. While employers said the law could cost jobs, unions criticized the final version for falling short. […] Labor Minister Andrea Nahles praised the government’s bill before the vote. “Cheap, unprotected—that is over,” Nahles told lawmakers. Her center-left Social Democrats (SPD) had made the minimum wage a condition for joining Chancellor Angela Merkel’s conservative Christian Democrats (CDU) in a coalition government at the end of last year. …
  • More Money Please: A New Plan to Boost Europe’s Straggling Investments

    07/01/2014 4:38:22 PM PDT · by Olog-hai
    Der Spiegel ^ | July 01, 2014 – 05:37 PM | Christian Reiermann
    The euro crisis may have eased recently, but companies and countries in the common currency zone still aren’t investing enough to fuel growth. The best solution, a Berlin economics institute argues, is to establish an EU-wide investment fund. […] But simply ratcheting up public expenditures, as some Southern European governments have advocated, is not a sound strategy for improving the situation, the [German Institute for Economic Research (DIW)] believes. “One of Europe’s biggest weaknesses is the lack of private investments,” (Marcel) Fratzscher says. “We have to close the gap by way of a European investment agenda.” …
  • Germany to push for economic reforms in G7

    06/29/2014 5:40:43 PM PDT · by Olog-hai · 3 replies
    TheLocal.de ^ | 29 Jun 2014 17:12 GMT+02:00 | (AFP)
    Germany wants to promote structural economic, financial market and tax reform when it takes over the presidency of the G7 club of rich nations next week, German media reported on Sunday. Member states must “join forces to support an even stronger economic recovery”, Finance Minister Wolfgang Schäuble and central bank chief Jens Weidmann said in a written message to other G7 members, the Handelsblatt business daily said. […] Germany—the Eurozone’s largest economy—also called for progress to address “the remaining gaps in financial market regulation”, including shadow banks, and on the automatic exchange of tax information. Schäuble also wants to promote...
  • EU cracks down on corporate tax avoidance scheme

    06/20/2014 6:33:14 AM PDT · by Olog-hai · 1 replies
    Associated Press ^ | Jun 20, 2014 6:36 AM EDT
    The European Union is closing a loophole that allows companies to shift their profits between different country divisions to avoid taxation. […] EU officials say tax fraud and firms’ aggressive cross-border tax avoidance schemes cost the bloc’s governments an estimated €1 trillion ($1.3 trillion) a year. …
  • Aging Germany lowers retirement age

    05/23/2014 11:23:49 AM PDT · by Olog-hai · 14 replies
    TheLocal.de ^ | 23 May 2014 15:48 GMT+02:00 | (AFP)
    German lawmakers approved on Friday a major pensions overhaul, criticized by many, including within Chancellor Angela Merkel’s coalition, as making little economic sense in a rapidly aging country. The new rules will allow some workers to retire at the age of 63, while the norm of 67 is being progressively phased in for workers in Europe’s top economy after a 2007 change. […] Critics, including from abroad, have also pointed to the paradox of Germany now lowering its retirement age after having pressed its partners in Europe during the debt and financial crisis not to permit the same. Even former...
  • EU elections 2014: Does Germany rule your world?

    05/19/2014 12:14:43 AM PDT · by Berlin_Freeper · 5 replies
    telegraph.co.uk ^ | 15 May 2014 | Harry Wallop
    Germans should be the happiest people in Europe. Their nation is one of the very few European countries to have survived the global recession and the eurozone crisis almost unscathed. Their economy is booming; their products are in demand; and, as a result, some argue they can call the shots throughout the region. But over the past few years, it is this very resilience and economic success which has caused it to be cast as villain. Angela Merkel, the German Chancellor, has been portrayed as Hitler’s daughter. And her country has been painted as “an imperial power that will not...
  • Merkel defends Germany’s early retirement plans

    05/10/2014 12:20:06 PM PDT · by Olog-hai · 6 replies
    Associated Press ^ | May 10, 2014 9:32 AM EDT
    Chancellor Angela Merkel is defending plans to allow some Germans to retire on full pensions at 63 and insisting they won’t stop her advocating painful reforms in other countries. Germany is raising the retirement age gradually to 67 from 65 but the government plans, at the insistence of Merkel’s new center-left coalition partners, to allow people who’ve paid into the pension system for 45 years to retire at 63 without taking a financial hit. …
  • The European Union Hasn't Made Any Difference At All To Britain's Trade

    05/05/2014 8:39:43 AM PDT · by mac_truck · 3 replies
    Forbes ^ | 5/5/2014 | Tim Worstall
    One of the standard arguments about Britain’s membership of the European Union is that it’s vital that we stay in because so much of our trade is with other European Union countries. Implicit in this is the claim that this is a result of our being in the EU. The dropping of trade restrictions resulting from the Single Market rules for example. The problem with this argument is that it depends upon an empirical claim: that Britain’s trade with the European Union countries has increased since the foundation of that Single Market. And it turns out that that doesn’t seem...
  • Merkel pushes for binding European reforms

    12/18/2013 2:24:44 AM PST · by Olog-hai · 3 replies
    Associated Press ^ | Dec. 18, 2013 5:09 AM EST
    Chancellor Angela Merkel is renewing a push for European countries to make binding agreements to carry out economic reforms as she underlines continuity in her new government’s approach to the continent’s debt crisis. […] Countries currently receive non-binding annual recommendations on reform steps from the European Union’s executive Commission. Merkel is calling for binding contracts in the future though she expects only “slow progress” on the issue. …
  • Germany plans to scrap air passenger tax

    11/22/2013 9:54:46 PM PST · by Olog-hai · 5 replies
    TheLocal.de ^ | 22 Nov 2013 12:11 GMT+01:00 | Fred Searle
    Germany’s next government is set to scrap the country’s air passenger duty, which could make flights up to €40 cheaper. The move follows pressure from the airline lobby, but has upset environmental groups. … The tax was introduced in Germany two years ago, but the parties believe that it is costing the country more money than it brings in, as passengers are put off flying from German airports by the high cost of travel. If the duty is abolished, ticket prices would be reduced by €7.50 on short-haul journeys, €23.43 on medium-haul and slashed on long-haul flights by €42.18, the...
  • Germany: Merkel to accept minimum wage demand

    11/21/2013 11:18:41 AM PST · by Olog-hai · 14 replies
    Associated Press ^ | Nov 21, 2013 9:41 AM EST | Frank Jordans
    German Chancellor Angela Merkel said Thursday that she is prepared to accept demands for a national minimum wage as part of a coalition deal that would give her a third term in office. Merkel had opposed the center-left Social Democrats’ call for an €8.50 ($11.50) hourly minimum wage in the run-up to the September election. Despite a clear victory at the ballot box, her conservative Union bloc lacks enough seats in parliament to form a government on its own, forcing her into lengthy negotiations for a “grand coalition” with the Social Democrats. …
  • Raw Nerve: Germany Seethes at US Economic Criticism

    10/31/2013 1:37:30 PM PDT · by Olog-hai · 32 replies
    Der Spiegel ^ | October 31, 2013 – 06:26 PM | Christopher Alessi
    A day after a US Treasury Department report bluntly denounced Germany’s economic model, accusing it of hampering the eurozone recovery and hurting global growth, Germany called the conclusions “incomprehensible” and challenged the US to “analyze its own economic situation.” The Treasury’s semiannual currency report criticized Germany’s over-reliance on exports, a high current-account surplus and weak domestic demand. These factors “have hampered re-balancing at a time when many other euro-area countries have been under severe pressure,” the report concluded, citing budget tightening in the euro periphery. “The net result has been a deflationary bias for the euro area, as well as...
  • EU clears way to create joint banking supervisor

    10/15/2013 2:22:45 PM PDT · by Olog-hai · 2 replies
    Associated Press ^ | Oct 15, 2013 11:06 AM EDT | Juergen Baetz
    European Union officials on Tuesday approved the creation of a centralized banking supervisor, marking another step in the 28-country bloc’s long quest to stabilize its financial system. Finance ministers at a meeting in Luxembourg cleared the final legal hurdle to the establishment of the new banking supervisor, which will be operated by the European Central Bank and directly oversee the bloc’s 130 biggest banks.“Now we will start hiring supervisors, rent buildings and start the coming (bank) stress test,” ECB executive board member Joerg Asmussen said. The so-called single supervisory mechanism will be based with the ECB in Frankfurt, Germany, and...
  • UK manufacturers want to stay in the EU

    10/14/2013 5:17:41 AM PDT · by Olog-hai · 6 replies
    EurActiv ^ | 14 October 2013
    Eight out of 10 British manufacturers would choose to stay in the European Union if a referendum on membership of the 28-nation bloc were held today, says a survey released today (14 October). The poll, for the EEF, the manufacturing sector’s biggest trade body, found that 85% of those asked would choose to stay in the EU, if given a say in a referendum. … EEF Chief Executive Terry Scuoler said the results suggested manufacturers wanted to stay in a reformed EU and feared the economic fallout of leaving. “Britain must not gamble on its future in Europe. The stakes...
  • ‘Germany plays a larger role than people think’

    10/09/2013 9:54:23 PM PDT · by Olog-hai · 5 replies
    TheLocal.de ^ | 8 Oct 2013 12:15 CET | Tom Bristow
    With the spotlight this week on Germany’s foreign policy, The Local asks if Europe’s biggest economy should play a greater role in world affairs? Foreign policy expert Professor Walter Russell Mead explains. … Professor Mead argued German foreign policy has been relatively successful in Europe. Asked if Germany should play a greater global role, he said: “Germany is playing a larger role in the world than people appreciate.” But he added: “Germany should play any role it thinks it ought to play. The Europe we see today is a Europe that US presidents from Washington on would have given anything...
  • EU seeks new $68 billion aid fund for banks

    09/26/2013 9:37:27 AM PDT · by Olog-hai · 6 replies
    Associated Press ^ | Sep 26, 2013 12:24 PM EDT | Juergen Baetz
    The European Commission wants to create a new financial backstop for ailing banks from its member countries that do not use the euro currency. The 17 EU countries that use the euro have a €500 billion fund, called the European Stability Mechanism, that they can tap to help rescue troubled banks. But the other 11 members, which include Britain, Poland and Hungary, do not. For those countries, the Commission, the 28-nation EU’s executive arm, is proposing to use an existing €50 billion ($68 billion) fund currently being used as a backstop for countries experiencing a balance-of-payment crisis, Commission spokesman Simon...
  • Angela Merkel celebrates after German election win

    09/22/2013 11:22:19 PM PDT · by Berlin_Freeper · 10 replies
    bbc.co.uk ^ | 23 September 2013 | BBC
    Chancellor Angela Merkel's conservative party has won Germany's election, but finished just short of an absolute majority, official results show. Mrs Merkel earlier urged her party to celebrate "a super result" after exit polls suggested she was set to win a historic third term. Her Christian Democrats (CDU) bloc took about 42% of the vote. But she might yet have to seek a grand coalition with the Social Democrats (SPD) who won about 26% of the vote. Mrs Merkel's preferred liberal partners have not made it into parliament.
  • Angela Merkel wins historic third term in German elections

    09/22/2013 5:37:50 PM PDT · by mandaladon · 40 replies
    The Telegraph ^ | 22 Sep 2013 | Jeevan Vasagar
    Angela Merkel vowed that she would deliver more “successful years for Germany” as exit polls indicated a commanding lead for her party over the main opposition. Angela Merkel is heading for a third term as Germany’s chancellor, as exit polls showed she could even be on course for the historic achievement of an absolute majority in the country’s parliament. An early projection by the state broadcaster ARD on Sunday evening showed Mrs Merkel’s Christian Democrat party (CDU) winning 301 seats in the 598-seat Bundestag, enough to form a government without a coalition partner. Later projections suggested, however, that she could...
  • EU unveils plan to clamp down on shadow banking

    09/04/2013 6:53:07 AM PDT · by Olog-hai · 3 replies
    Associated Press ^ | Sep 4, 2013 8:57 AM EDT | Juergen Baetz
    The European Union is pushing for a more stable financial system by clamping down on “shadow banking”—the high-finance sector that handles trillions of dollars but isn’t bound by the same rules as banks. The Commission, the EU’s executive arm, said Wednesday that while investment vehicles such as money market funds or hedge funds are welcome because they provide extra sources of financing for companies and the economy, they can also pose serious threats to long-term financial stability. Analysts and economists have argued that the lack of oversight in the shadow banking sector played a major role in the global financial...
  • European banks to quit London if UK left EU: Goldman executive

    09/03/2013 9:53:52 AM PDT · by Olog-hai · 23 replies
    Reuters ^ | Mon Sep 2, 2013 1:30pm EDT
    European banks would leave London “in very short order” if Britain voted to exit the European Union, a senior Goldman Sachs executive said in a newspaper interview published on Monday. Michael Sherwood, a vice-chairman at the bank, said the prospect of a British withdrawal was a real worry given Prime Minister David Cameron’s plans to hold a referendum on the subject if re-elected in 2015. … Goldman’s Sherwood predicted European banks would quickly relocate if Britain did sever its EU ties. “Forget what we would do. Every European firm would be gone in very short order,” he was quoted as...
  • Tax hikes likely for majority of Germans

    08/23/2013 2:52:21 AM PDT · by Olog-hai · 9 replies
    The Local ^ | 21 Aug 2013 16:10 CET | (DPA/The Local/tsb)
    German taxpayers will have to brace themselves for higher rates to plug holes in the budgets of local authorities, according to research released on Wednesday. A survey from consultants Ernst & Young shows that three-quarters of local authorities are set to raise taxes and increase charges for their services either this year or next year to make up for budget shortfalls. … A third of local authorities also wanted to raise fees for children centers, while 17 percent planned to increase cemetery charges. Last year, a fifth of authorities raised property taxes and in the coming year 28 percent plan...
  • Faith in European Union at low ebb, EU poll says

    07/25/2013 1:12:47 PM PDT · by Olog-hai · 2 replies
    Reuters ^ | Wed Jul 24, 2013 8:11pm BST | Robin Emmott
    The number of Europeans who distrust the European Union has doubled over the past six years to a record high, with bailed-out Greeks and Cypriots having the least faith in the bloc, according to a new EU poll. An economic crisis, record unemployment and five eurozone bailouts have taken their toll on the standing of the European Union that last year was awarded the Nobel Peace Prize but is increasingly viewed as an overbearing, cumbersome bureaucracy.Sixty percent of Europeans “tended not to trust the EU”, according to Eurobarometer, a public opinion service of the European Commission, the EU executive, which...
  • German managers back a minimum wage law

    07/15/2013 10:45:23 PM PDT · by Olog-hai · 5 replies
    The Local ^ | 15 Jul 13 10:33 CET | (The Local/hc)
    German industry is largely in favor of a minimum wage, a new survey shows. Yet despite the opposition Social Democrats putting it high on their agenda, managers still do not trust the party with the economy. A survey of German managers conducted for the Handelsblatt business newspaper showed 57 percent wanted a mandatory minimum wage in the country. Those in service industries were the most in favor, with 61 percent saying they wanted a minimum wage. An hourly rate of €8.88 ($11.60) was considered suitable, the managers told pollsters from Forsa who carried out the survey. This is more than...
  • France isolated as Germany drops opposition to US trade deal

    06/12/2013 9:55:19 AM PDT · by Olog-hai · 6 replies
    EU Observer ^ | 12.06.13 @ 18:11 (June 12) | Valentina Pop
    Germany has dropped its opposition to starting talks on an EU-US free trade agreement, leaving France alone to battle for exemptions for European artists. “Today, Germany has withdrawn its concerns and will approve a negotiating mandate for the EU commission on Friday,” German economy ministry spokeswoman Julia Schwartz said on Wednesday (12 June) at a press conference in Berlin. EU trade ministers are to take a decision on the Union’s free trade blueprint at a meeting in Luxembourg at the end of this week. … Germany had earlier sided with France in saying that “culture” should be exempt from the...
  • EU potential for social unrest is world's highest: ILO

    06/04/2013 4:48:27 AM PDT · by Oldeconomybuyer · 6 replies
    Reuters ^ | June 3, 2013 | By Robert Evans
    The potential for social unrest in European Union countries is higher than anywhere else in the world and the already yawning gaps between rich and poor, a major trigger, are likely to widen globally, the International Labour Organisation said on Monday. Those most vulnerable, the report said, were Cyprus, Czech Republic, Greece, Italy, Portugal, Slovenia and Spain. However the risk of social unrest had declined in Belgium, Germany, Finland, Slovakia and Sweden since 2010. Overall, the risk of unrest in the EU "is likely to be due to the policy responses to the ongoing sovereign debt crisis and their impact...
  • Thousands expected at German austerity protest (“anticapitalist” really)

    05/30/2013 12:50:08 PM PDT · by Olog-hai · 4 replies
    Associated Press ^ | May 30, 2013 1:21 PM EDT
    Police in Germany’s financial capital, Frankfurt, have ringed the European Central Bank with metal barricades a day ahead of anti-capitalist protests expected to draw several thousand people. Members of the Blockupy group say they will try to prevent employees from reaching the ECB building for several hours Friday to highlight what they say is the bank’s role in enforcing the harsh spending cuts introduced to tackle the euro area’s three-year debt crisis. A second demonstration is planned at Deutsche Bank’s headquarters nearby. … Blockupy includes people who participated in the Occupy movement, which protested the role of global capitalism by...
  • Germany fears revolution if Europe scraps welfare model

    05/28/2013 5:20:45 PM PDT · by Oldeconomybuyer · 23 replies
    Reuters ^ | May 28, 2013 | by Ingrid Melander
    German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, and dropping the continent's welfare model in favor of tougher U.S. standards would spark a revolution. If U.S. welfare standards were introduced in Europe, "we would have revolution, not tomorrow, but on the very same day," Schaeuble told a conference in Paris. In recent weeks Germany, wary of a backlash as many in crisis-hit European countries blame it for austerity, has taken steps to tackle unemployment in the bloc, striking bilateral deals with Spain and Portugal. "We have to...
  • Germany's Merkel visits Pope, urges tougher market controls

    05/19/2013 9:24:35 PM PDT · by haffast · 4 replies
    Reuters ^ | Sat May 18, 2013 11:26am EDT | James Mackenzie
    (Reuters) - German Chancellor Angela Merkel met Pope Francis on Saturday and, apparently responding to his criticism of a heartless "dictatorship of the economy", called for stronger regulation of financial markets. On Thursday, Francis appealed in a speech for world financial reform, saying the global economic crisis had made life worse for millions in rich and poor countries. Merkel visited Rome for a few hours specifically to meet the pontiff and spoke with him privately in his library for 45 minutes, unusually long for a private papal audience. She told reporters afterwards that the scandals and excesses criticized by Francis...
  • German (political) parties get record state handouts

    05/14/2013 12:16:48 PM PDT · by Olog-hai · 2 replies
    TheLocal.de ^ | 13 May 13 12:01 CET | (The Local/jcw)
    Germany’s political parties will receive more state money than ever before, it was reported on Monday. In the run-up to September’s election, the country’s parties will be fueled by over €154 million ($199.7 million). The ruling Christian Democratic Union (CDU), the Social Democrats (SPD), the Greens, socialist Linke party, and the ailing junior coalition partner the Free Democratic Party (FDP) will be getting four percent more state funding this year, the Saarbrücker Zeitung reported. …
  • More working Germans need social support

    05/08/2013 7:18:28 PM PDT · by Olog-hai · 7 replies
    TheLocal.de ^ | 08 May 2013 12:11 CET | The Local/DPA/jcw
    More Germans need state help to supplement their wages—because their jobs pay so badly they cannot pull themselves above the poverty line, figures from the Federal Employment Agency (BA) showed on Wednesday. This could fuel an ongoing debate over introducing a minimum wage. Lots of people in Germany have part-time “mini-jobs” for which they earn just enough to have to pay social contributions—around €800 ($1,052.80) per month—and according to the Süddeutsche Zeitung newspaper, many of these people claim basic welfare support, Hartz IV, as they cannot live off their wage. There were also, the paper said, people with full-time jobs...
  • Scotland still expects the Bank of England to bail them out if they split from the UK

    04/09/2013 9:39:43 PM PDT · by Olog-hai · 6 replies
    Daily Mail (UK) ^ | 19:56 EST, 9 April 2013 | Gerri Peev
    Scotland wants the Bank of England to bail it out if there is another financial meltdown—even if the country breaks away from the UK. Scottish Nationalists are insisting they want to keep the pound as their currency and retain the Bank of England as the “lender of last resort”. But an influential committee of peers has warned it would be “implausible” for the Bank to accept risks over which it had no control. It also attacked one of the main parts of Scottish First Minister Alex Salmond’s economic blueprint as “fanciful”. …
  • 2 states challenge German redistribution system

    03/25/2013 3:14:35 PM PDT · by Olog-hai · 3 replies
    Associated Press ^ | Mar 25, 2013 8:31 AM EDT
    Two wealthy German states have filed a lawsuit in the country’s highest court challenging a system under which money is redistributed to less prosperous regions. Bavaria’s state government said it and the state of Hesse filed the suit Monday with the Federal Constitutional Court. … The system is supposed to help ensure equal living conditions nationwide. …
  • UK better off in EU for now, says euroskeptic think tank (Open Europe—not so euroskeptic)

    06/11/2012 4:19:20 PM PDT · by Olog-hai · 3 replies
    EU Observer ^ | 2012.06.11 @ 15:36 | Honor Mahony
    The UK would be better off staying in the EU, the country's foremost euroskeptic think tank says, amid a growing debate among Conservatives on the merits of a British exit from the European Union. "From purely a trade perspective, EU membership remains the best option for the UK," Open Europe argues in a report published Monday (11 June). "All the alternatives come with major drawbacks and would all … require negotiation with and the agreement of the other member states, which would come with unpredictable political and economic risks," it continues. The report examines the idea—gaining traction among some euroskeptic...
  • Transatlantic trade deal on the horizon?

    03/24/2012 7:54:39 PM PDT · by Olog-hai · 5 replies
    EurActiv ^ | 23 March 2012
    As pressure on the eurozone eases, Europe and the United States are becoming increasingly convinced that they need to strengthen their partnership in order to maintain a leading competitive edge in the global economy. “The old boys need to say clearly that they are still in business,” said EU Ambassador to Washington João Vale de Almeida, speaking at an event organized by the American Chamber of Commerce to the EU (AmCham EU). The state of the transatlantic economy has suffered the blow of the euro crisis but remains the largest and wealthiest in the world, with over 50% of world...