This is the front page of our current issue. You can read all the main
articles from the print edition on the website, or download a free PDF
version of the paper. You can also search our archives for articles from
previous issues.
Special Supplement for the
German-Italian Economic Forum
Frankfurt, June 18, 2013
Remembering JFK
It’s 50 years since John F. Kennedy’s historic trip to Europe. His
pledge that the US would stand by West Berlin and West Germany met with
thunderous gratitude. But it soon became clear that he was not offering
Germans the prospect of reunification anytime soon.
|
|
|
Young unemployed people in the eurozone see the crisis as a threat to their futures. The EU understands but is doing too little
By Ulrike Herrmann
June 14, 2013
Young people in Europe have no future – at least not if they live in the
eurozone crisis countries. Unemployment among those under 24 is very
high: in Greece, more than 60 percent; in Spain, over 50 percent; in
Portugal and Italy, more than 40 percent.
Nor is there any light at the end of the tunnel, as the economy in
all these countries shrinks and is set to shrink further next year. This
lack of prospects is tragic for the youth – and dangerous for Europe.
Young people are experiencing the euro crisis as a threat, something
that robs them of all opportunities. An entire generation is likely to
be traumatized – and lose faith in the belief that there is any value
for them in a united Europe.
|
|
Read more...
|
|
|
Printing presses and zero interest rates are no way to shore up an economy
By Hans-Jürgen Jakobs
June 14, 2013
A new belief in the state has established itself in the global
economy. Suddenly, it’s the government’s job to clean up the mess that
corporations and executives leave behind. The other side of the coin is
the eternal mistrust of “the markets.” The overall impression is of
unregulated forces that would lead us to ruin if we do not place our
trust in competent government leaders, ministers and central bankers who
safeguard economies from the worst. That’s the general diagnosis.
This new global intervention system’s effects can be most clearly
observed in the market for currency exchange. The cost of money for
individual nations or a bloc like the eurozone is being determined less
and less by supply and demand from many small players. It’s being set
instead at the whim of politicians.
|
|
Read more...
|
|
|
 German final at the heart of English football: Borussia Dortmund and Bayern Munich demonstrate the renewed significance of the Bundesliga at Wembley Stadium. After the all-German Champions League final, German football aims to capitalize on its sporting success
By Roland Zorn
June 14, 2013
German champions, Champions League winners, DFB Cup winners – FC
Bayern Munich has swept the board in this football season. They are the
first German club to clinch the treble, or the “oans, zwoa, drei”
(Bavarian for “one, two, three”), as it said on the shirts the team
donned after winning the DFB Cup at Berlin’s Olympic Stadium.
On top of Bayern’s consistent success on the field, it is now also
officially the most valuable club in the world. London financial
consultants Brand Finance recently calculated FC Bayern Munich to be
worth no less than €668 million, overtaking previously unchallenged
English champions Manchester United (€650 million) and well ahead of the
next clubs on this particular table, Spain’s Real Madrid (€482 million)
and FC Barcelona (€444 million). Bayern’s opponents in the Champions
League Final, Borussia Dortmund (€202 million), have leaped €24 million
in one year, moving up to number 10, ahead of local rival Schalke (€201
million).
|
|
Read more...
|
|
|
