Business and Economics
E.C.B. Says Impact of Asset-Buying Plan Will Be ‘Significant,’ but Does Not Detail Size (NYT): The European Central Bank left its benchmark interest rate unchanged at 0.05 percent, as it turned its focus to buying private-sector assets as a way to revive bank lending and pump money into the eurozone economy.
ECB Buys Bank Credits for Two Years (FAZ): ECB President Mario Draghi considers the inflation too low. Now he wants to buy credit packages from banks to revive the economy. The German economist Hans-Werner Sinn remains critical of this program.
How Rent Control Hurts the Weak (FAZ): Amid the recent rent control of the German government, economic historian Hans-Joachim Voth describes how this can hurt low income citizens. Bad experiences in Spain and the United States illustrate his argument.
Germany Facing Economic Downturn? (FAZ): More and more economic forecasts have to be corrected. Now things start to become uncomfortable, not only for the stock market. What is the verisimilitude of these doubts in Germany’s economic strength?
Foreign and Domestic Policy
Five of Juncker’s Candidates Fail the First Test (SZ): Juncker’s designated team of European Commissioners had to face questions from the European Parliament with unsatisfactory results. Five candidates did not gain approval in the first round, which casts doubt on Juncker’s strategy.
The German Military Faces a Major Challenge from Disrepair (WP): For a country that has professed a willingness to play a greater role in world affairs, news about malfunction and disrepair of its military is bad news for Germany.
Steinmeier: Germany Prepared To Take On Responsibility in the United Nations (Germany.info): In his speech to the 69th session of the United Nations General Assembly on Saturday, German Foreign Minister Frank-Walter Steinmeier focused on the crises in Ukraine and the Middle East and on the Ebola epidemic in West Africa.
Society, Culture & Politics
The East-German Storming of the Bastille (SDZ): The German holiday on October 3rd actually celebrates October 9th: This was the day of the massive Monday demonstrations in Leipzig – which ultimately set off one of the most peaceful revolutions in history. Eastern Germans should be proud of their courage.
Bettina Limperg is the New Head of the German Supreme Court (Welt): Bettina Limperg is the new head of the German Bundesgerichtsshof (Federal Supreme Court). Being the first woman to assume this position, she will have to fix what her male predecessors left behind.
German Regulator Warns Google over Collecting Users Data (NYT): A German privacy regulator has ordered Google to give its users greater control over how their online data is used, in the latest privacy case that challenges how the search giant operates in Europe. The city of Hamburg’s data protection commissioner said the tech giant’s information gathering risked creating “meaningful and comprehensive” records of individuals without consent.
October 3 – Lessons for the Future of Europe: Twenty fives years after the Fall of the Berlin Wall, Jackson Janes reflects on Germany’s position in Europe and the world. Germany and Europe faces serious future challenges, but they have the chance to apply the lessons they have learned in the past.
Safe as Houses: Comparing Housing Finance Policies in the U.S. and Germany: The recent financial crisis demonstrated that housing is a key sector of the U.S. economy. The crisis also recast the debate on a distinct feature of the American political economy: the surprisingly vast presence of the American state in the housing sector.
Announcing AICGS on Amazon Smile: Shop Online and Donate: AICGS is excited to announce that we are a member of the Amazon Smile program. Now, when you shop online, Amazon.com will give AICGS 0.5% of your purchase at no cost to you.