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Posts Tagged ‘Spiegel’

Germany Braces for Trump’s Trade Policies

Posted by hkarner - 29. November 2016

Date: 28-11-2016
Source: The Wall Street Journal

Germany’s formidable exporters assess dangers of U.S. protectionism—but also new opportunities

 The U.S. is Germany’s largest trading partner, accounting for nearly 10% of all German exports.

FRANKFURT—Donald Trump’s victory in the U.S. presidential election, after a campaign attacking free trade, has companies in Europe’s biggest exporting nation scrambling to tally up the impact.

Germany shipped $125 billion in goods to the U.S. last year, 2.5 times what it imported from the U.S., according to the U.S. Census Bureau. The U.S. is Germany’s largest trading partner, accounting for almost 10% of all German exports, according to Germany’s state statistical office.

“If Trump can enact the trade limits he has announced, the damage would be substantial,” said Clemens Fuest, president of Germany’s Ifo Institute for Economic Research. He estimates 1.5 million German jobs depend on exports to the U.S.

Germany’s economics ministry, in an internal assessment of Mr. Trump’s economic platform compiled before the election, warned he could isolate the U.S. from global economic activity, removing a massive source of demand for German exports. Den Rest des Beitrags lesen »

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Verfassungsreferendum: Italiens Schuldendrama wird zur Bedrohung für Europa

Posted by hkarner - 27. November 2016

Date: 27-11-2016
Source: SPIEGEL Eine Kolumne von Henrik Müller

Beim Verfassungsreferendum in Italien geht es diese Woche nicht nur um die Zukunft des Landes. Sollte Premier Matteo Renzi scheitern, droht ein Schuldenkollaps – und womöglich das Ende für die gesamte Eurozone.

Renzi ccItaliens Premier Matteo Renzi

Im Frühsommer dieses Jahres saßen Fachleute des Internationalen Währungsfonds (IWF) zusammen und überlegten, welche Probleme im schlimmsten Fall so auf Italien zukommen könnten. Ganz oben auf der Liste möglicher Risiken standen Turbulenzen auf den globalen Anleihemärkten, außerdem ein Nein beim Brexit-Referendum, „erneute Unruhe auf dem italienischen Bankenmarkt“ sowie „zunehmender Populismus“, der die Umsetzung von Reformen und die „Stärkung der EU-Architektur“ verhindert.

Mögliche Folgen: Italien könne sich in einem „schlechten Gleichgewicht“ wiederfinden, bei dem rapide steigende Zinsen das Vertrauen in die Zahlungsfähigkeit des hoch verschuldeten Staats unterminieren. So steht es im diesjährigen IWF-Länderbericht. Den Rest des Beitrags lesen »

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Whipping Boys‘: The Erosion of German Democracy

Posted by hkarner - 25. November 2016

Date: 24-11-2016
Source: SPIEGEL

Postwar German democracy has been a success story. But the election victory of Donald Trump in the US has also highlighted growing fractures between voters and political leaders in the country. Many fear that democracy is eroding.

There is a growing disconnect in Germany between voters and their political representatives. In some parts of the country, the state has almost completely withdrawn.

In recent weeks, the sense of concern in the Chancellery had become increasingly palpable. With just a year to go until the next parliamentary elections in Germany, Chancellor Angela Merkel had still not announced whether she would run for a fourth term or not — and her silence was not seen as a positive omen.

Last week, though, the mood among the chancellor’s staff in Berlin began to brighten. Donald Trump’s election in the United States, many of her aides felt, made it more likely that Merkel would campaign for re-election. And on Sunday, she finally put an end to the speculation and announced her candidacy. Den Rest des Beitrags lesen »

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EU: Zustimmung wächst in ganz Europa

Posted by hkarner - 21. November 2016

– SPIEGEL ONLINE  

Stimmung in den Mitgliedsländern. Die EU-phorie wächst wieder

Die Zustimmung zur Europäischen Union ist seit dem Frühjahr in fünf der sechs größten Mitgliedstaaten gestiegen. Eine SPIEGEL ONLINE vorliegende Umfrage zeigt: Sogar bei den Briten geht es aufwärts.

© Jeannette Corbeau

Von

Montag, 21.11.2016   06:15 Uhr


In fünf der sechs größten EU-Staaten steigt die Zustimmung der Bürger zur Mitgliedschaft in der Europäischen Union.

In Deutschland, Frankreich, Großbritannien, Italien und Polen sehen die Einwohner laut einer repräsentativen Umfrage die EU-Zugehörigkeit ihres Landes positiver als noch im März. Das zeigen Zahlen der Bertelsmann-Stiftung, die SPIEGEL ONLINE vorliegen.

Verbessert haben sich die Zustimmungswerte überraschend besonders in Großbritannien. Waren im März – also drei Monate vor dem Brexit-Votum – nur 49 Prozent der Briten für eine Verbleib ihres Landes in der EU, gaben im August 56 Prozent an, in der Union bleiben zu wollen. Ende Juni hatte noch eine knappe Mehrheit in einer Volksabstimmung für den Austritt aus der EU votiert. Den Rest des Beitrags lesen »

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One-Hundred Years of Fear

Posted by hkarner - 17. November 2016

Date: 16-11-2016
Source: DER SPIEGEL Essay

America Has Abdicated Its Leadership of the West

For 100 years, the United States was the leader of the free world. With the election of Donald Trump, America has now abdicated that role. It is time for Europe, and Angela Merkel, to step into the void.

us-army-ccThe invasion of Normandy on June 6, 1944

Even history sometimes leans toward pathos. In January 2017, when Donald Trump is sworn in as the 45th president of the United States, the American Age will celebrate its 100th birthday — and its funeral.

The West was constituted in its modern form in January 1917. World War I was raging in Europe at the time and in Washington, D.C., President Woodrow Wilson told his country that it was time for Americans to take responsibility for „peace and justice.“ In April he said: „The world must be made safe for democracy.“ He declared war on Germany and sent soldiers to Europe to secure victory for the Western democracies — and the United States assumed the leadership of the Western world. It was an early phase of political globalization.

One hundred years later: Trump.

Trump, who wants nothing to do with globalization; Trump, who preaches American nationalism, isolation, partial withdrawal from world trade and zero responsibility for a global problem like climate change. And all of this after a perverse election campaign marked by resentment, racism and incitement. Den Rest des Beitrags lesen »

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An Absurd and Dangerous President

Posted by hkarner - 15. November 2016

Date: 14-11-2016
Source: DER SPIEGEL By Klaus Brinkbäumer

The United States has voted for a dangerously inexperienced and racist man — one who was swept into the White House by an army of disenfranchised white working- and middle class Americans. It’s a movement that now threatens democracy around the world.

Trampling on democracy

trump-cc1Donald Trump called for a ban on Muslims entering into the United States, he described Mexicans as rapists and announced his intention to build a wall and make Mexico pay for it. He boasted about sexually harassing women and, when women came forward to say that he did in fact harass them, he said: Oh no, not her. Just look at her. You really think … with her? Trump said Barack Obama wasn’t born in the United States, and when it was proven that Trump had lied, he said that Hillary Clinton was the one who created the lie in the first place — yet another lie. He founded a university and cheated students out of their money. He said he has a plan for the economy, and that this plan is to double growth.

There’s nothing new here — it’s all information stemming from the election campaign. But it still remains important.

In the days after an election that horrified the world, one might be tempted to think all of this isn’t so bad given that Obama and Clinton accepted the defeat with dignity and congratulated Trump. And because Trump said, in the moment of victory, that the time for healing has come. And because the outcome was reached democratically and the people, of course, are always wise. Den Rest des Beitrags lesen »

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‚The World Is Crumbling in Front of Our Eyes‘

Posted by hkarner - 11. November 2016

Date: 09-11-2016
Source: SPIEGEL

Most in Europe were expecting to wake up to President-elect Hillary Clinton. But now that Trump has won, many political leaders in Germany and the EU are in no mood to celebrate — with some exceptions.

As is often the case with earth-shaking events, it was the financial markets that reacted first. The DAX, Germany’s blue-chip stock index, quickly plunged upon opening on Wednesday morning in response to the news that Donald Trump had won the US presidential elections. But despite expectations by some financial experts that the index would drop by up to 4 percent against Tuesday, the DAX quickly stabilized after opening down just over 1 percent.

„I actually don’t expect significantly negative effects for the German economy,“ Marcel Fratzscher, president of the German Institute for Economic Research, told German press agency DPA.

Among European politicians, though, initial reactions were significantly darker. German Chancellor Angela Merkel felt it necessary in a Wednesday midday statement to remind Trump of the values that bind Germany and America together: „Democracy, freedom, respect for the law and for human dignity, regardless of ancestry, skin color, religion, gender, sexual orientation or political leanings.“ She then said: „On the basis of these values, I offer the future president of the United States of America, Donald Trump, close cooperation.“ Den Rest des Beitrags lesen »

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Democracy at Work at the Center of Power

Posted by hkarner - 7. November 2016

Date: 06-11-2016
Source: DER SPIEGEL
Subject: Clinton Versus Trump

The Script of a Real-Life Tragedy

Trump versus Clinton will go down in American history as the dirtiest campaign of all time. It seemed at times as though script writers had let their imaginations run wild. But the consequences for democracy in the United States will be long lasting.

One could imagine the pilot episode for this series beginning with a fast-paced time-lapse video from the Hudson to the Potomac, music rising dramatically in the background. The flight would start over New York, Manhattan bathed in morning mist, before shooting up Fifth Avenue, banking over the 58-floor Trump Tower and heading out over the countryside to the southwest. The route would take us over New Jersey, past Philadelphia and then Baltimore, where the battle that inspired the US national anthem was fought — land of the free, home of the brave. Finally, we would reach Washington D.C., the river, the Watergate building, the proud Mall with its monuments, the dome of the Capitol and then, the center of power, the White House. Den Rest des Beitrags lesen »

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Absolutely Unbelievable

Posted by hkarner - 1. November 2016

A tragic story about an institution – a country? – having lost its identity. And how people like Angela Merkel got carried away (by Ackermann & Co) (hfk)   Ba the way: Isn’t a famous „Auslandsösterreicher“ Chairman of the Supervisory Board of Deutsche Bank (since 2012)? For whom did he work before? Goldman Sachs!

Date: 31-10-2016
Source: SPIEGEL
Subject: The Deutsche Bank Downfall

How a Pillar of German Banking Lost Its Way

Deutsche Bank CC1For most of its 146 years, Deutsche Bank was the embodiment of German values: reliable and safe. Now, the once-proud institution is facing the abyss.

SPIEGEL tells the story of how Deutsche’s 1990s rush to join the world banking elite paved the way for its own downfall.

Greed, provincialism, cowardice, unfocused aggression, mania, egoism, immaturity, mendacity, incompetence, weakness, pride, blundering, decadence, arrogance, a need for admiration, naiveté: If you are looking for words that explain the fall of Deutsche Bank, you can choose freely and justifiably from among the above list.

The bank, 146 years after its founding, has become the target for all manner of pejoratives, and not just from outside observers. All of the above terms were used in interviews held during months of reporting into the causes of the downfall of Germany’s largest financial institution. They popped up over the course of several hours of interviews with four Deutsche Bank CEOs, three former and one current. And they were uttered in interviews with eight additional senior bank managers and board members conducted over the course of several years, from the 1990s until today, and in meetings with captains of industry who know the bank well and during encounters with major stakeholders. More than anything, the disparaging words come up frequently in interviews with those who have worked or still work at the bank as customer service advisors, as branch managers or in positions lower down on the food chain.

What we have found in the course of these myriad interviews — combined with the hours spent analyzing bank balance sheets, thousands of pages of files, committee meeting minutes and archive material — is that the collapse of Deutsche Bank is the result of years, decades, of failed leadership, culminating in the complete loss of control of the company by top managers during the period between 1994 and 2012. Den Rest des Beitrags lesen »

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Wie McKinsey an der Flüchtlingskrise verdient

Posted by hkarner - 28. Oktober 2016

28.10.2016 | 18:03 |  (DiePresse.com)

Das Beratungsunternehmen hat einem Medienbericht zufolge mehr als 20 Millionen Euro vom deutschen Staat kassiert.

Für seine Beratungsleistung in der Flüchtlingskrise hat das Unternehmen McKinsey laut einem „Spiegel“-Bericht mehr als 20 Millionen Euro von Deutschland erhalten.

  • Seit Herbst 2015 kassierte das Beratungsunternehmen 15,5 Millionen Euro für Aufträge des Bundesamts für Migration und Flüchtlinge (Bamf), wie der „Spiegel“ am Freitag unter Berufung auf die Behörde berichtete.
  • Hinzu kommen nach Angaben der Bundesagentur für Arbeit (BA) 4,96 Millionen Euro für die Unterstützung eines gemeinsamen Arbeitsstabs von Bamf und BA. Den Rest des Beitrags lesen »

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