Business and Economics
Deutsche Bank Predicts the Collapse of the Euro (Die Welt): Deutsche Bank prophesies that the euro zone will experience the greatest flight of capital in history. The world’s largest forex trader expects the euro’s value to drop to $0.95. And it already knows who’s to blame.
German Exports Nosedive (FAZ): In August Germany’s exports took their biggest hit in five years. “We’re seeing a year of geopolitical turmoil,” says Volker Dreier of the DIHK. The imports, too, decreased slightly.
Germany is running out of craftsmen and skilled labor (Die Welt): Companies are increasingly searching for skilled STEM sector workers. Not only academics, but also technicians are scarce–and this despite the industry offering attractive wages and conditions.
Despite the quota debate: Fraction of women on executive boards decreases (Spiegel): Women gradually taking over? On the contrary: In spite of gender equality efforts, the percentage of women in German boardrooms has decreased to just 5.8 percent.
Foreign and Domestic Policy
Steinmeier: “A World in Disarray Needs a Strong Transatlantic Alliance” (Germany.info): Article by Federal Foreign Minister Frank-Walter Steinmeier on the occasion of the 40th anniversary of the Aspen Institute in Germany. Published in the German weekly newspaper Die Zeit on October 9, 2014.
Germany doesn’t need its arms industry (SZ): Jobs? Sensitive technology? The arguments in support of a national arms industry don’t hold water. For the German economy, the arms trade is practically negligible. And still it will remain the subject of many a duplicitous debate.
German Islamists: Hesse wants to stop terrorists “learning by doing” (Spiegel): How to prevent German Islamists from traveling to Iraq or Syria? The newest suggestion now comes from Hesse’s minister of justice.
A single spark–and the situation spirals out of control (Die Welt): In Hamburg and Celle, Kurds and Muslims are brawling with knives, machetes, and Döner skewers. The authorities are stretched to the limit–the police speak of “inhumane brutality.”
Society, Culture & Politics
Gauck: “Liberation is even more exhilarating than liberty.” (FAZ): In Leipzig Federal President Joachim Gauck commemorated the Monday Demonstrations in East Germany 25 years ago. Without this popular uprising, the epochal Fall of the Wall would never have happened.
Presidential Proclamation of German-American Day 2014 (Germany.info): U.S. President Barack Obama issued a proclamation declaring October 6, 2014 German-American Day.
The Working-Class Youth’s Fear of Upward Mobility (FAZ): More and more Germans attend university. But social background influences the course of their educational path. For their parents’ sake, some children from non-academic families forfeit higher education.
The French Challenge–The End of Austerity: The French government recently announced that the age of austerity is finally over—at least for France. That it will now disregard most of its commitments on reducing fiscal deficits represents a serious challenge to fellow members of the monetary union.
Life after Merkel? There will be, and it could begin in the little-known state of Thüringen: A well-known German comedian once sang a song about the state of Thüringen decrying the Land’s apparent anonymity. “Thüringen,” bemoaned Rainald Grebe, “is a Land that David Bowie once flew over.”