As consumers, insurance companies, and the federal government await the Supreme Court’s ruling on the constitutionality of the Affordable Care Act (ACA), one health insurance provider has stepped up to the plate and promised to maintain some of the law’s consumer protections even if the law is struck down. On June 11,… Read more >
AICGS Senior Fellow Dr. Tim Stuchtey explains the attempts at constitutional reform in Germany regarding higher education and the positive outcomes of such a move.
In the wake of the global financial crisis, the United States and the European Union have acted not only to recover from the crisis, but also to implement regulatory reforms to prevent another crisis of this magnitude in the future. The path to reform, however, has not been smooth. Political debates over fundamental issues have slowed progress toward making meaningful reform in regulating the financial sector.
In this Transatlantic Perspectives essay, DAAD/AICGS Fellow Katharina Gnath discusses the G20′s compromise on a large-scale reform of the IMF, including the deal that transfers two of the eight European Executive Board seats to emerging market countries. Over the coming months, Europe will have to make some tough choices on the implementation of the deal, Ms. Gnath writes, and she argues that European member states should use this opportunity to improve the EU’s international macroeconomic policy and relations with the IMF.
DAAD/AICGS Fellow Dr. Stormy-Annika Mildner examines the differing German and U.S. proposals for an IMF-regulated ‘Financial Crisis Responsibility Fee’ and argues that their implementation is anything but certain. Dr. Mildner writes that the proposals differ with regard to the institutions subjected to the fee, the determinants of the fee (risk, income, and bonuses), the goals of the levy, as well as the appropriate use of the fee revenues, but states that strong transatlantic cooperation in the early stages can result in a more coordinated and effective implementation.
The notion of Deutschland AG refers to the interconnectedness of corporate ownership and control, particularly the relationships between banks and industry, which enabled the most powerful bankers and company managers to influence corporate decision-making throughout the economy…
When Germany elected a new government on 27 September 2009, it did so not with an eye to the party, economic, or political successes of the previous sixty years. Rather, the election displayed a startling realignment of the party system. This election, occurring as it did in the middle of a celebration of sixty years of the Federal Republic of Germany, can perhaps be seen as the beginning of a new period of German politics, and its impact on transatlantic relations will continue to be seen…
As the global financial crisis has expanded, there is considerable confusion in Germany about how to cope with the crisis and fall-out in the real economy, writes Prof. Dr. Paul J.J. Welfens, president of the European Institute of International Economic Relations (EIIW) and a former AICGS Fellow. Dr. Welfens proposes five specific ‘institutional innovations’ that would help in ending the chaos and inefficiencies in the banking systems, and argues for the introduction of a new tax regime designed to encourage bankers to have a long term time horizon in decision-making.