Category: Videos

Column: germany has to think about leaving the euro

January 15, 2021 January 12, 2021 by admin in , , No Comment

By Klaus-Rainer Jackisch, HR

The European Central Bank has launched the final battle for the euro rescue. Surprisingly, ECB President Mario Draghi announced last week that the central bank would do everything it could to save the common currency: "And believe me. That will be enough," he said. Strong stuff!

What many initially saw as a master plan for the monetary authorities is increasingly turning out to be a fiasco. Because the announcement of measures was apparently not discussed in the Governing Council. The way in which Draghi initiated his decision is also highly dubious: at an investor conference in London of all places. The was teeming with speculators betting on the end of the euro. Here he just casually announced that the euro would be saved. The wrong place. The wrong audience. The wrong message. The stock market cheered. But such drastic measures, which taxpayers have to bear, belong on the table at an ECB meeting and on the program of the subsequent press conference – not in the dark porch in the lion’s den.

Column euroschau: why the cypriots don’t like the ecb

January 15, 2021 January 12, 2021 by admin in , No Comment

The Governing Council meets twice a year outside of Frankfurt – this time the Mediterranean island of Cyprus is the destination. Klaus-Rainer Jackisch takes this as an opportunity to look back on the controversial suitability of many Cypriot savers two years ago.

By Klaus-Rainer Jackisch, HR

The island of Cyprus has been a holiday paradise since ancient times: Eternal spring reigns here, spoiled by the sun and sea. Even the gods were guests. Aphrodite, the goddess of love, was washed up on the beach in the west and stepped out of a shell with great fanfare.

Column euroschau: the fear of a sixth candidate

January 14, 2021 January 12, 2021 by admin in , No Comment

By Klaus-Rainer Jackisch, HR

It was a bad omen when the organizers at the European Central Bank set the two foreign dates of the Governing Council for 2012 last year. Twice a year, the train of the monetary authorities does not travel to Frankfurt am Main to the Eurotower, but to a member country to hold the council meeting there. The Governing Council met in Barcelona in spring. That was exactly when the Spanish banking crisis reached its peak.

You don’t hear good things from Slovenia

This week the Governing Council gathers on a pretty country estate near the Slovenian capital Ljubljana. You don’t hear anything good from this country either: Slovenia, nestled between Austria in the north, Croatia in the south, Hungary in the east and Italy in the west, only joined the euro in 2007. At that time, the former republic of Yugoslavia was considered a model student in the EU: The economy was booming, investments flowed and economic growth was the highest in the monetary union. Nobody thought of a crisis.

Column euroschau: saving europe looks different

January 13, 2021 January 12, 2021 by admin in , No Comment

It looks inconspicuous, but it has it all: ECB boss Draghi. At the beginning of the year he pushed through the controversial purchase of government bonds against opposition in the Governing Council. And he will probably continue to push through his politics.

By Klaus-Rainer Jackisch, HR

He is small, a bit plump and has a mustache. His face smiles friendly at the viewer. The Italian plumber is a bit nondescript. But the man in the red dress with a big "M" on his chest should not be underestimated. Because Super Mario always tries to save the world with a verbal "Mamma Mia" or "It’s a me, Mario". With success!

Column euroschau: no more muddling through!

January 13, 2021 January 12, 2021 by admin in , No Comment

After the riot at the opening of the ECB skyscraper in Frankfurt a month ago, the ECB Council will probably discuss monetary policy in a much more peaceful manner today. But even without a rampage: The Euro project is more unpopular than ever before.

By Klaus-Rainer Jackisch, HR

Exceptionally today, the Council of the European Central Bank is having its regular meeting this month. Because on the normal Thursday, the ladies and gentlemen have to jet to the meeting of the International Monetary Fund in Washington.

Column euroschau: greece is racing towards the abyss

January 12, 2021 January 12, 2021 by admin in , , No Comment

The Tsipras government has no sense of pragmatic politics. Greece expects further billions in aid without doing much to solve the crisis. The fate of the euro hangs by a thread. All of Europe is threatened with disintegration.

By Klaus-Rainer Jackisch, HR

It was a night and fog action, but it did not remain a secret: Late on Monday evening, Chancellor Angela Merkel hosted French President François Hollande and EU Commission President Jean-Claude Juncker in Berlin. Then the limousines of ECB boss Mario Draghi and IMF boss Christine Lagarde also drove up. The top meeting was about the future of Greece. Apparently, Athens became submitted one final offer.

Column euroschau: ecb has delivered – politics is on the train

January 11, 2021 January 12, 2021 by admin in , No Comment

The case of Banco Espirito Santo is symptomatic of the industry in southern Europe. Bad loans are making their way through the balance sheet. The cheap money from the ECB does not reach the companies. But it’s not just the banks to blame.

By Klaus-Rainer Jackisch, HR

Avenida da Liberdade is Lisbon’s boulevard. Based on the Parisian model of the Champs-Elysees, it connects the center with the northern districts of the Portuguese capital. Those who are self-conscious stroll here to see and to be seen. Anyone who is even more self-conscious has their office here. And those who are very self-conscious even have their headquarters here.

After meeting in the chancellery: no agreement on the fiscal pact in sight

January 11, 2021 January 12, 2021 by admin in , No Comment

After unsuccessful talks in the Chancellery on the ratification of the fiscal pact, an agreement between the government and the opposition is apparently again a long way off. The government is facing tough demands on two fronts. The opposition continues to demand a binding timetable for the introduction of a financial transaction tax. And the federal states insist that they be relieved of social spending.

A conversation between the parliamentary group leaders and the minister of the Chancellery, Ronald Pofalla, neither brought an agreement nor did consultations by Federal Finance Minister Wolfgang Schauble. The government and opposition then blamed each other for the standstill.

Further meetings required

"The behavior of the SPD and the Greens shows that they apparently no longer want an agreement this week," said CDU budget politician Norbert Barthle after the talks with Pofalla. "An agreement will probably no longer be possible at the top meeting with the Chancellor on Wednesday, but probably only next week at further meetings."

After meeting in the chancellery: no agreement in the dispute over the fiscal pact

January 11, 2021 January 12, 2021 by admin in , No Comment

At a meeting of the working groups of the coalition and opposition in the Chancellery on the financial transaction tax and the European fiscal pact, there was no agreement in the evening. There had been "no final, tangible result", said CDU budget politician Norbert Barthle after the negotiators had talked about two hours.

There are still "some points of dissent" and the opposition has also introduced new points. With a view to the peak meeting with Chancellor Angela Merkel on Wednesday, Barthle said that he did not expect an agreement to be reached there.

The FDP financial expert Volker Wissing affirmed that the coalition is in agreement with the opposition for financial market taxation. Attempts are now being made to reach a consensus on Wednesday. However, he admitted: "It is clear that the negotiations are not easy." The representatives of the SPD, the Greens and the Left Party also said after the meeting that they did not believe that a final agreement would be reached on Wednesday.

After mass protests: kyrgyzstan repeats parliamentary elections

January 9, 2021 January 12, 2021 by admin in , No Comment

Mass protests, hundreds of injuries, resignation of the president – the controversial result of the parliamentary elections in Kyrgyzstan has led to chaos in the former Soviet republic. Elections should now take place again in two months.

After the bloody mass protests in Kyrgyzstan, the parliamentary elections will be repeated. The election commission set December 20 as the new date, as the authority announced in the capital, Bishkek. The presidential election is expected to take place in January.

Falsification allegations after the first election

Initial results of the parliamentary election on October 4th had indicated a majority for parties with ties to the ruling elite. Many opposition parties, on the other hand, missed their entry into parliament. The opposition spoke of buying votes and other irregularities.