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Fricke, Thomas
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3 articles of this author have been cited in the European Press Review so far.
Disaster 2010
Germany is heading for a political and economic disaster, writes the Financial Times Deutschland: "The economic crisis has surpassed even the most dismal prognoses, and the downward spiral continues. German firms had 37 percent fewer orders than in mid 2007. Companies working at this capacity don't need their entire staff. ... If unemployment is higher in the symbolic year of 2010 than in the bleak Schröder year of 2003, the threat of a political debacle also runs high. Most people in the country already had a hard time seeing any impact of Schröder's social and labour market reform 'Agenda 2010' on their lives or bank accounts. Until now one could argue that at least unemployment had decreased. But now we are threatened with a social and psychological catastrophe. The promise that it is worth undergoing painful reforms to achieve fundamental change looks set to explode in our faces."
» full article (external link, German)
More from the press review on the subject » Domestic Policy, » Economic Policy, » Germany
Grandmother reads Keynes
The daily Financial Times Deutschland pictures a Christmas scene in Germany: "This year there's clear soup for the starter. Mother wants to keep things simple at a time like this. Rubbish, says grandmother. Someone has to make up for the losses now that there's a global crisis in demand. Otherwise there'll be a downwards spiral. Spending less won't help things at all. That's right, Werner chimes in, the state must intervene. He can no longer recall ever having been against economic stimulus programmes. Now's the time to lash out and spend. Cheers! ... Suddenly grandmother shrieks. The crib is on fire. ... Monika weeps. Klaus warns against actionism. Somehow everything will work out again. ... Once the firemen leave mother pours everyone a glass of schnapps. ... Grandmother settles down to read Keynes. By candlelight. The collected works. Perhaps the worst can still be averted. Merry Christmas."
» more information (external link, German)
More from the press review on the subject » Religion, » Financial Markets, » Weltanschauung, » Germany
The ECB benefits in the Babylonian Eurozone
"In its first ten years, the European Central Bank (ECB) has benefited from the lack of a common public opinion in the Babylonian Eurozone. Yet that may quickly become its downfall", writes the Financial Times Deutschland. "Even ten years after the introduction of the euro, there is not so much as a trace of cross-border public opinion in the Eurozone - aside from the (few) experts - that could exert pressure on Europe's central bankers. True, recent surveys show that a good 53 percent of - otherwise enlightened - Germans are convinced that the euro is responsible for price rises in recent years. However they do not see the European Central Bank as the culprit. Until now the bank has benefited in this environment from the fact that the diverging interests of the many governments tend to cancel each other out. But the ECB could face isolation should these interests one day overlap."
» full article (external link, German)
More from the press review on the subject » EU Policy, » Fiscal Policy, » Europe
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