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Keywords:
The German response to the debt crisis in the eurozone and the events in 2011-2012.
Grouped Articles
As Greek Drama Plays Out, Where Is Europe?
New York Times 04/29/2010
Germany Clears Rescue for Greece
New York Times 05/03/2010
Economist 05/13/2010
Germans Respond to Merkel's 'Motherly' Side
Wall Street Journal 08/23/2013
Merkel Wins Big in German Election
Wall Street Journal 09/23/2013
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
Grouped Articles
Year Into Hollande Presidency, âa Sense of Driftâ
New York Times 05/04/2013
In Race to French Presidency, Hollande Sets His Own Pace
New York Times 05/05/2012
Merkel, Hollande Say Greece Needs Proposals for Brussels Meeting on Crisis
Wall Street Journal 07/06/2015
Greek Crisis Shows How Germany’s Power Polarizes Europe
Wall Street Journal 07/07/2015
France and Germany Face Delicate Talks on Economy
New York Times 06/21/2012
Amid crisis, leaders of Germany, France, Italy and Spain meet in Rome - The Washington Post
Washington Post 06/22/2012
Grouped Articles
The Man Whoâll Do Triage on Europeâs Banks
New York Times 10/20/2013
European Central Bank Head, Draghi, Has New Powers
New York Times 07/02/2012
A New Generation Tackles the Euro Crisis
Wall Street Journal 01/12/2012
ECB's Chief Warns Situation Is 'Very Grave'
Wall Street Journal 01/17/2012
Wall Street Journal 02/24/2012
Q&A: ECB President Mario Draghi
Wall Street Journal 02/23/2012
In a gradual shift in opinion Jog Asmussen agrees with ECB president Mario Draghi that the markets are pricing in a potential breakup of the eurozone currency union fof bond yields of member countries.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Top Candidate for a Post at Europeâs Central Bank Is a Woman
New York Times 12/16/2013
A New Generation Tackles the Euro Crisis
Wall Street Journal 01/12/2012
Franceâs Treasury Chief Works to Guard Credit Rating
New York Times 01/02/2012
Germany Nominates Asmussen to Succeed Stark at ECB
Wall Street Journal 09/10/2011
German at European Central Bank at Odds With Countryâs Policy Makers
New York Times 08/27/2012
A wide ranging interview with Mario Draghi by Wall Street Journal reporters Blackstone, Karnitschnig and Thomson, which gives insights on how Draghi sees solutions to the crisis in the eurozone and future policy. Draghi favors good fiscal consolidation which combines freeing up labor markets and structural changes for Italy, Spain and other southern countries, with spending reductions, and capital investment in the future as opposed to tax increases for current spending and lack of capital investment for future growth. He points out that with excessive debt to GDP ratios there is no alternative to this right kind of fiscal consolidation. The fiscal consolidation gives the structural changes time to be put in place..
Grouped Articles
ECB Moves Markets, Not Economy
Wall Street Journal 05/03/2013
The Man Whoâll Do Triage on Europeâs Banks
New York Times 10/20/2013
ECB Struggles With Low-Altitude Flying
Wall Street Journal 11/10/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
E.C.B. Plots Strategy for Staving Off Deflation
New York Times 05/26/2014
Short term steps Germany agreed to when pushed hard by Italy, Spain and France, include the critical actions to let the European rescue funds to directly buy Italian and Spanish bonds on private markets to drive down bond yields, and provide direct aid to Italian and Spanish banks. The two steps were vital to restore market confidence and necessary if the European project was to be saved. The marathon negotiation stetched for 14 hours with brinksmanship, and were described by prime minister Monti of Italy as "hard and tense" but worth it.
Grouped Articles
Italy's Monti Hopes Summit Win Plays at Home
Wall Street Journal 06/29/2012
Global Markets Soar on European Breakthrough
New York Times 06/29/2012
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Italy Leader, Monti, Tells Germany Austerity Isn't Enough
New York Times 01/11/2012
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Elsa Fornero says Italy is not a place where people follow the rules, and there is a strong tendency to rig the system to tweak it in different places to benefit different groups. The last 10 goverments have failed to tackle the Workers Law put in place after the Second World War, which is out of place in today's economy. Which is why the changes she has made are so significant for Italy to regain its competitiveness and its potential, and modernize its economy. This is also one of the major positive outcomes of the current eurozone crisis. Spain has launched a similiar effort. It involves a culture change which would increase productivity and investment. It also shows that while the Merkel Christian Democrats may need to adjust the austeity programs to promote growth, some of the structural changes pushed in Europe including the formation of the Monti government are finally on the right track.
Grouped Articles
New York Times 09/25/2011
Departing EADS Chief Urges Europe to Recommit to Industry
New York Times 04/12/2012
Italy Official Seeks Culture Shift in New Law
Wall Street Journal 06/27/2012
Transcript: Italy's Labor Minister On Reforms
Wall Street Journal 06/26/2012
Italy Approves Labor Law Overhaul
Wall Street Journal 06/27/2012
Avoiding an Italian Bailout Isn't Just About the Numbers
Wall Street Journal 07/12/2012
Grouped Articles
Spain Emerges From Recession but Sees More Austerity Ahead
Wall Street Journal 09/23/2013
Departing EADS Chief Urges Europe to Recommit to Industry
New York Times 04/12/2012
Spain Plans to Burn Its Bridges to Keep Vacationers on the Job
Wall Street Journal 02/08/2012
Spain Approves Changes to Labor Policy
New York Times 02/10/2012
Germany's Inflated Fear of Inflation
Wall Street Journal 02/14/2012
The Rest of Europe vs. Germany
New York Times 02/16/2012
Rajoy's history cautiously embracing politics as Spain emerged from the Franco era, his father's advice to avoid politics after the searing experience of his grandfather in Galicia, the early years in Pontevedra, Galicia, and regional pride in Galicia, are described in Rajoy's book "En Confianza." Regional pride and the European experiment appear to be intertwined, just as Germany would like to see its political entity merged with a European entity, Spain would like to see its political entity merged with the European entity, because of a searing interwar period. Rajoy would genuinely like to see the European experiment go forward as he made the decision to accept EU aid.
Grouped Articles
Wall Street Journal 09/28/2011
Spain Emerges From Recession but Sees More Austerity Ahead
Wall Street Journal 09/23/2013
Spain Plans to Burn Its Bridges to Keep Vacationers on the Job
Wall Street Journal 02/08/2012
Mariano Rajoy of Spain Steps Up in Debt Crisis
New York Times 06/10/2012
EU: Spain Banks Will Be Monitored
Wall Street Journal 06/11/2012
Spain's Handling of Bankia Repeats a Pattern of Denial
Wall Street Journal 06/11/2012
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Not Quite Checkmate for the Bundesbank
Wall Street Journal 12/22/2014
Weidmann, Adviser to Merkel, to Head Bundesbank
New York Times 02/16/2011
Merkel Taps Adviser to Head Bundesbank
Wall Street Journal 02/17/2011
BusinessWeek 12/14/2011
Debt Crisis Provisions Hurt Bundesbank Profit
New York Times 03/13/2012
Axel Weber says the European Central Bank should stick to its mandate of setting monetary policy and not get too involved in the crisis in Greece. He says Greece's problems are structural and may take a long time to resolve, as much as 30 years. The European leaders have to decide on solving the underlying problems so that they cut the losses and restart, by offering debt guarantees and using partial creditor haircuts. Simply giving additional loans -which can never be repaid considering the debt of 350 billion euros ($496 billion)- or addding short term liquidity for a 3-5 year solution as European leaders have done so far, won't work.
Grouped Articles
EU Dismisses IMF's Criticism On Greek Bailout
Wall Street Journal 06/07/2013
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Weber Sees Greece Needing More Aid
Wall Street Journal 04/19/2010
The 'Silent Austerity' in Banking
Wall Street Journal 01/21/2014
Not Quite Checkmate for the Bundesbank
Wall Street Journal 12/22/2014
Germany's Weber Slams Rescue Efforts
Wall Street Journal 06/27/2011
The resignations of German representatives on the ECB Executive Board, Axel Weber and Jurgen Stark, over ECB purchases of sovereign bonds. Concern about political risk and financial risk and exceeding the ECB's charter. The need for the governments to assume the critical role of far-reaching reforms of the mechanism for decisions and sanctions.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 09/10/2011
Stark Walked a Fine Line Between German and EU Monetary Cultures
Wall Street Journal 09/10/2011
The purchases of Italian and Spanish bonds by the European Central Bank in addition to its holdings of 75 billion euros of Portuguese, Greek and Irish bonds creates additional balance sheet risk for the ECB. Losses in the value of collateral could wipe out the 10 billion euro capital base of the ECB. The pressing need to give resources and new powers to the European Financial Stability Facility so that this agency could do the bond buying in the place of the ECB.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
ECB’s Coeuré Sends Strong Signal on Asset Purchases
Wall Street Journal 12/18/2014
European Markets Jolted by ECB Proposal
Wall Street Journal 01/21/2015
Quiet Start to Central Bank Bond-Buying Program for the Eurozone
New York Times 03/09/2015
Wall Street Journal 03/10/2015
Wall Street Journal 08/08/2011
The EFSF was authorized to purchase government bonds of EU countries at the June 2012 summit of EU leaders. The EFSF will coordinate the purchase with the ECB with new purchases being on the EFSF books.
Grouped Articles
Wall Street Journal 08/08/2011
European Finance Ministers Agree to Speed Up Bailout of Spanish Banks
New York Times 07/09/2012
Rating Changes Ripple Through Bailout Funds
Wall Street Journal 07/24/2012
ECB to Discuss Rescue Plan With Bundesbank
Wall Street Journal 07/27/2012
Bundesbank Stresses Divide on Bond Buying
Wall Street Journal 08/02/2012
Merkel Backs Bond-Buying Program
Wall Street Journal 09/18/2012
The ECB's newly created Long Term Financing Operation enables European banks to meet their financing needs by borrowing from the European Central Bank at low rates of 1% for three years. Mid size banks in Spain buy government bonds of Spain and use the bonds as collateral at the ECB to access this lowcost funding. This has helped bring down rates at a recent auction of Spain's bonds from 5.1% to 1.7%. Italian banks also participated in the same way. 523 European banks borrowed 489 billion euros on Dec. 21, 2011, under this newly created financing operation of the ECB. This provides European banks financing as they are shutoff from normal financing by selling unsecured bonds to private and institutional lenders. This helps banks in the eurozone meet financial needs in 2012 without reducing lending to businesses and consumers.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
E.C.B. Plots Strategy for Staving Off Deflation
New York Times 05/26/2014
Euro-Zone Banks Tap Big ECB Loans
Wall Street Journal 12/21/2011
Staring Into the ECB's Mini Bazooka
Wall Street Journal 12/21/2011
A Central Bank Doing What Central Banks Do
New York Times 12/21/2011
European Banks Rush to Grasp Lifeline
Wall Street Journal 12/22/2011
EU proposals that would put the banking supervisory authority for European banks under the ECB for the Single Resolution Mechanism.
Grouped Articles
Wall Street Journal 03/03/2010
ECB Nominates French Regulator for Euro-Zone Post
Wall Street Journal 11/23/2013
ECB Nominates New Banking Regulator
New York Times 11/20/2013
Shadow of Noose Speeds Up Banking Union
Wall Street Journal 12/16/2013
Doubts Greet Plan for Euro Zone Bank Regulator
New York Times 07/01/2012
Wall Street Journal 09/12/2012
Gerhard Schroeder describes his approach to a new Agenda 2020 for Europe. Schroeder implemented Agenda 2010 for Germany with changes to the welfare state in Germany starting in 2003. He talks about how this was done and important decisions that were made at the time for implementing it without losing public confidence, which bear directly on the situation today.
Grouped Articles
Germany reaps rewards of entitlement cuts - The Washington Post
Washington Post 09/20/2011
Germans Respond to Merkel's 'Motherly' Side
Wall Street Journal 08/23/2013
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
Germanyâs Neighbors Admonish It Over Surplus
New York Times 11/13/2013
Germany’s flagging economy: Build some bridges and roads, Mrs Merkel
Economist 10/17/2014
Greek Crisis Shows How Germany’s Power Polarizes Europe
Wall Street Journal 07/07/2015
German political leaders do not want a "transfer union." At the same time they want to keep the European Union, just as much as Chancellor Kohl and Chancellor Adenauer. Merkel, Schroeder, Schauble and other leaders agree on the need for the European Union. The question is how to bring fiscal discipline to the EU, even if this means redesigning the structure of the EU. The vision of a united Europe persists.
Grouped Articles
Wall Street Journal 03/03/2010
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
New York Times 05/22/2014
Greek Crisis Shows How Germany’s Power Polarizes Europe
Wall Street Journal 07/07/2015
Economist 08/08/2015
Charlemagne: Germany’s euro question
Economist 09/10/2011
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 06/10/2014
Draghi addresses the issue of large scale purchases of bonds of Italy and Spain to ease pressure on bond yields, by leaving open the possibility of action if the EU countries take the necessary steps for a strict budgetary framework.
Grouped Articles
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
France and Italy's push is for improved financing of growth projects, coordination of monetary policy with budgets and fiscal situation of eurozone states, and mapping out a pathway that leads to joint issuance of eurobonds. French officials in the Hollande administration say the lack of this architecture is the cause of many of today's problems. Prime minister Monti of Italy played a key role in pushing for the changes at meetings in Rome and Brussels in June 21-27, 2012.
Grouped Articles
The Man Whoâll Do Triage on Europeâs Banks
New York Times 10/20/2013
France to Press for New Euro-Zone Architecture at EU Summit
Wall Street Journal 05/23/2012
Euro Crisis Calls for Mix of Moves
Wall Street Journal 05/26/2012
In test for Europe, Ireland votes on fiscal treaty - The Washington Post
Washington Post 05/31/2012
Germany Open to Deal on Pooling Euro Debt, With Limits
New York Times 06/04/2012
Why the Bailout in Spain Won't Work
New York Times 06/11/2012
Grouped Articles
From Taxis to Tolls, Italy Seeks Competition Push
Wall Street Journal 01/19/2012
Germany's Inflated Fear of Inflation
Wall Street Journal 02/14/2012
The Rest of Europe vs. Germany
New York Times 02/16/2012
Mario Monti and Italy's Generational Crisis | Foreign Affairs
Foreign Affairs 02/14/2012
Wall Street Journal 03/27/2012
Italy's Labor Reforms Are Serious and Will Be Effective
Wall Street Journal 04/07/2012
Galloni talk to Monti in this important interview after the June 28, 2012 summit of European leaders. In it Monti outlines once more how he sees ECB head Draghi's role in the days ahead, the measures he has taken that are unpopular in Italy, his ideal for Europe.
Grouped Articles
Italian Left Bolstered by Showing in Mayoral Races
Wall Street Journal 06/11/2013
‘The European Union needs Italy’ - The Washington Post
Washington Post 10/18/2013
Italy Leader, Monti, Tells Germany Austerity Isn't Enough
New York Times 01/11/2012
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Mario Monti: Interview Excerpts
Wall Street Journal 08/06/2012
Q&A: Italy’s Economy Minister Vittorio Grilli
Wall Street Journal 09/12/2012
A 27% unemployment rate and GDP declline at annual rate of 3.1% by June 2012 in Castilla-La Mancha create difficult conditions. Cospedal is the senior leader in the Partido Popular after prime minister Mariano Rajoy. She says she wants growth and employment, but her first priority is to have "cleaned up accounts" so that Spain's borrowing costs can be brought down. Lack of credible finances in the regions are a major problem in Spain recognized by all sides, but the drive to reestablish credibility comes at a time of rising unemployment.
Grouped Articles
Europe's Recession Sparks Grass-Roots Political Push
Wall Street Journal 05/21/2013
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
A Spanish Leader Emerges as a Crusader for Austerity
Wall Street Journal 06/25/2012
Spain Delays Plan to Ease Financing for Ailing Regions
Wall Street Journal 06/29/2012
Euro Zone Eases Budget Demand on Spain
Wall Street Journal 07/10/2012
In Spain, a Symbol of Ruin at an Airport to Nowhere
New York Times 07/18/2012
Grouped Articles
Still Sputtering, Spain Turns Away From Cuts
Wall Street Journal 05/12/2013
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Spain Emerges From Recession but Sees More Austerity Ahead
Wall Street Journal 09/23/2013
New Spanish Budget Free of Austerity Measures
New York Times 09/27/2013
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
How Righteousness Killed the World Economy
New York Times 10/12/2014
Jens Weidmann is the new president of the German central bank. Weidman sees two views colliding on how to respond to the eurozone crisis. He expresses the view of the Bundesbank about opposition to sovereign bond purchases by the European Central Bank to ease high bond yields for Spain and Italy. This is considered as overstepping the ECB's manadate for price stability. Weidmann is the German member of the ECB's Governing Council.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Weber Sees Greece Needing More Aid
Wall Street Journal 04/19/2010
Not Quite Checkmate for the Bundesbank
Wall Street Journal 12/22/2014
Germany's Bundesbank Gets a New Inflation-Fighter
Wall Street Journal 05/03/2011
Wall Street Journal 12/09/2011
Leaders Grow Further Apart on Solutions
Wall Street Journal 12/15/2011
The 495 billion in euros of Bundesbank claims on the ECB, with much of the collateral in sovereign debt of financially weak countries, is another reason Germany sees a breakup of the eurozone as unthinkable. Germany would assume a large share of the losses if the eurozone would breakup, much larger than the 28% which is its share of the ECB's capital.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Not Quite Checkmate for the Bundesbank
Wall Street Journal 12/22/2014
BusinessWeek 12/14/2011
When Sovereign Debt Is No Longer Risk-Free
BusinessWeek 12/08/2011
Italyâs Leader Is Optimistic About Greece and Euro
New York Times 02/10/2012
Debt Crisis Provisions Hurt Bundesbank Profit
New York Times 03/13/2012
The ECB rate changes and policy in 2010-2012.
Grouped Articles
ECB Moves Markets, Not Economy
Wall Street Journal 05/03/2013
Shares Rise on Wall Street and in Europe
New York Times 06/06/2012
Europe’s Central Banker Engineers His Economics
New York Times 02/05/2008
2 Major European Banks Keep Record-Low Rates
New York Times 11/04/2010
ECB Seeks Funds for Capital Base
Wall Street Journal 12/17/2010
Rate Rise Signaled for Euro Zone
Wall Street Journal 03/04/2011
Grouped Articles
Don't Bank on ECB Rescuing Italy
Wall Street Journal 11/09/2011
Italy Fears Rattle World's Investors
Wall Street Journal 11/10/2011
Central Bankerâs Exit Gives France Opening
New York Times 11/10/2011
Crisis Ensnares Central Bank in Desperate Bid to Save Euro
Wall Street Journal 11/18/2011
European Bank Chief Pushes Back
Wall Street Journal 11/19/2011
New York Times 11/19/2011
On the agenda during discussions in June between the EC, ECB and the German government, is deposit insurance for eurozone banks, and a supervisory financial authority for eurozone banks (Single Resolution Mechanism) within the EC with powers transferred from sovereign states to the the supervisory banking authority. These issues take priority because of fears of bank runs on banks in Greece, Spain and other countries. France is pushing for a new Eurozone Architecture that will form the basis of the euro currency.
Grouped Articles
ECB Hits the Road for Star Supervisors
Wall Street Journal 06/26/2013
European Union Offers Berlin Compromise on Bank Proposal
New York Times 07/12/2013
Wall Street Journal 03/03/2010
The Man Whoâll Do Triage on Europeâs Banks
New York Times 10/20/2013
ECB Nominates French Regulator for Euro-Zone Post
Wall Street Journal 11/23/2013
ECB Nominates New Banking Regulator
New York Times 11/20/2013
Grouped Articles
ECB Hits the Road for Star Supervisors
Wall Street Journal 06/26/2013
European Union Offers Berlin Compromise on Bank Proposal
New York Times 07/12/2013
Wall Street Journal 03/03/2010
Slow Path to Policing Europe Banks
Wall Street Journal 09/17/2012
Wall Street Journal 09/12/2012
Merkel Backs Bond-Buying Program
Wall Street Journal 09/18/2012
Merkel supports ECB president Draghi's efforts to stabilize the euro in September 2012, but navigates around Bundesbank president Weidmann's opposition to sovereign bond purchases by the ECB by saying that proper eurozone banking supervision arrangements have to be established. Merkel and finance minister Schauble insist that this will require more time beyond the Jan 1, 2013 date in the EU proposal, to be done properly.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Germans Respond to Merkel's 'Motherly' Side
Wall Street Journal 08/23/2013
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
Not Quite Checkmate for the Bundesbank
Wall Street Journal 12/22/2014
Economist 11/11/2015
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