A new drugstore recently opened up in New York City, and the Financial Times Deutschland’s correspondent there, Thorsten Schröder, was there to cover it. Sound strange? Well, this is no ordinary drugstore – this is truly a Wall Street drugstore in the “Too Big to Fail” tradition. Titling his piece (in English) Bankster’s Paradise – Schröder has evidently been in the States long enough to be down with his Coolio references – he leads:

The lunch-break is saved: A pretentious drugstore opens on Wall Street, where they know what brokers need and love – sushi, money and stock-quotes.

Opening day there featured the autograph-signing presence of no less than Darryl Strawberry (trust me: a gigantic NYC baseball celebrity), but it’s the unique amenities that are sure to keep the Financial District worker-bees devoting their lunch-hours here.

In fact, the traders and bankers can find in this Wall Street drugstore almost everything they need in their lives. He who has spent the morning pulling his hair out over falling prices can get it repaired at noon under chandeliers at the hairdresser’s there. Or he can sit on a wooden throne to get his leather shoes shined. There’s an internal manicure-salon, a skin-analysis center and an apothecary’s.

That’s not to mention the sushi bar, with NYSE stock-quotes displayed on an electronic ticker-screen behind it, nor the vaulted ceilings, marble floors, and even golden escalators (yes: güldene Rolltreppen) that mark the place’s layout.

Appropriately enough, this latest affiliate of the Duane Reade drugstore chain is housed in the Trump building and occupies the space formerly taken up by a branch of the Bank of Manhattan. The firm’s management is explicitly experimenting with this new wrinkle of a retail concept as a way to try to make up for the losses it suffered from its prior “Superstore” – not that that was a mistaken business approach, that store just happened to be located in one of the World Trade Center buildings in September, 2011.

Oh, is he controversial! He likes to sleep with three females at a time, all of them clad in fur. (And this after a notorious separation from what was supposed to be his exclusive mate.) He’s been the subject not only of lawsuits but also full photo-spreads in Vanity Fair (by Annie Liebovitz, no less) and parody on the Colbert Report. Meanwhile, both his obsessive need to ingest things that are not good for him and to always be the center of attention have made most observers very concerned about his welfare.

And rightly so, for now he is dead, and way too young . . . what’s that? No, I was never talking about Charlie Sheen, this is about the celebrity that was Knut the Polar Bear, whose adventures at the Berlin Zoo this weblog has occasionally covered over the years. Maybe to make myself clear I should have brought up Knut’s being featured on his own postage-stamp, or even the public calls in the past for his castration, but frankly, all of that and more seems well within the capability of the out-of-control 2 1/2 Men once-and-future star.

No, this is about Knut, and I guess I can take a sort of bittersweet pride in having realized, from the very beginning of my coverage, that “it is perhaps the life of a child movie star that provides an even more-exact template to what has been happening with Knut.” You’ll surely know by now that last Saturday, as he was lounging on an island in his Berlin Zoo enclosure (which he shared with the aforementioned three female polar bears – who somehow seemed to want little to do with him) the lumbering grayish bear suddenly stood up, spun around a couple of times, fell into the water and was gone. Well, at least you probably heard that he died; those additional details I got from having the fortune to hear an interview on the BBC World Service with the Berlin Zoo Bear Dept. Head Heiner Klös. The interviewer put Klös on the spot (as BBC interviewers are increasingly wont to do with their subjects in recent years), accusing him of feeding Knut too many of the infamous croissants he was mad about. Yes, OK, there were croissants, Klös stammered in his reply, but mostly the keepers made sure he received the sort of wholesome meat-and-vegetables diet a still-growing young polar bear requires.

Anyway, while Knut was never in what you could call polar bear athletic shape, it’s unlikely it was anything in his diet that caused his death at age 4 – untimely, as polar bears in captivity are routinely known to live forty years or more. Just what it was remains something of a mystery; it was not a tumor, for example, as Christina Hucklenbroich of the FAZ let us know in an article of yesterday, although it did seem to involve some disease in his brain. Nothing in the environment provided to him at the Berlin Zoo was at fault, either – despite calls from no less than the Financial Times Deutschland for polar-bear enclosures across Europe to be subject to “stress tests.” (For real – although I suspect the piece is written tongue-in-cheek.) Nor did it have anything to do with any sort of in-breeding – Knut’s mother was a full-blooded wild polar bear out of Canada, Zoo Director Bernhard Blaszkiewitz assured the assembled press hordes.

Of course, it was that very same mother-bear who started Knut off on his celebrity adventure in the first place by rejecting him and thus making it necessary that he be raised in a rather more public fashion by the zookeepers. And although that life is now at an end, the legend (and, possibly, the need for further coverage here – whatever the traffic will bear, you might say) will surely live on. They want to raise a statue to him; his fur is already in the hands of expert taxidermists at a museum; and, inevitably, you know there is going to be a movie. For – relative to his species, at least – Knut lived fast and he died young: may I suggest “Polar Without A Cause”?

One piece of news now much in circulation is the “slowdown” in GDP growth for the (mainland) Chinese economy. “Slowdown” in quotes, because statistics still showed an annualized 9.6% rate of third-quarter growth (year-on-year) – still impressive, if a bit less than the 10.3% y/y growth recorded for QII. This news-item’s appeal to those reporting it is clear, as it enables them to combine that “slowdown” irony with an underlying concern that it might turn out to be a serious matter after all, if most of the rest of the world is mired in recession and waiting on eventual Chinese demand to pull it out.

Typically, though, most news outlets fail to carry the story through to its deeper layer of meaning, in this case the fact that such a slowing of economic growth is actually a good thing and precisely what the Chinese authorities hope to achieve. For a more profound level of sophistication such as that one has to resort to publications such as the New York Times to read how, in fact, Beijing is concerned about runaway inflation and maybe even a property-price crash, so that if anything they were disappointed not in the slackening of third-quarter growth but rather the smallish magnitude of that slackening, and in fact recently went so far as to raise interest rates to gain more of precisely that result. (For the ultimate in detailed analysis of this predicament, from a Chinese professor at Peking [sic] University no less, the blog Naked Capitalism graciously provides us with this.)

Then there is an even deeper treatment of the phenomenon, brought to us today in the FT Deutschland: The Chinese cannot grab hold of their happiness. Sure, for decades now the Chinese economy has consistently shown explosive growth, is this piece’s message (written – note well! – by a journalist named Luo Xu), but it seems clear that this has failed to make the Chinese any happier.

Since he writes for the FTD, Luo is naturally far too intelligent to base such a contention merely upon any set of anecdotal impressions – from a population in excess of 1.3 billion! – that he and his acquaintances may foster. No, he has academic reports to cite:

• The Erasmus University study, using a “People’s Happiness Index” on a 1 (most unhappy) to 10 (most happy) scale, that returns 6.64 in 1990, 7.08 in 1995, but then 6.60 in 2001. (Nothing more recent mentioned);
  
• The University of Michigan study of 2009, which doesn’t provide numbers but merely concludes that yes, the Chinese are on the whole unhappier now (i.e. 2009) than they were ten years before;
  
• The study published just last August at the Conference for Positive Psychology that took place in China, according to which 90% of respondents to a survey described themselves as lonely, 46.9% were dissatisfied with their lives and 19.1% were very dissatisfied.

It seems, then, that the Chinese have finally bumped up against the folk-wisdom that money does not (always) make you happy. But why exactly is that? And what, if anything, can be done about it? Remember, though, that this is but an article in a business newspaper and not the detailed psychological study – or, better, Nobel Prize-winning novel – that would be a more-appropriate means for addressing this dilemma. Mr. Luo is game to do the best he can to explain, though, and that turns out to be the following summary of seven factors behind this mysterious society-wide gloom, as compiled from the studies already-cited and others:

• Competition: The old, familiar comparative motive: you might be sitting happy, but that can swiftly change once your neighbor buys a fancy car which you don’t have.
  
• Lack of ideals: That is, when people discover that money is not enough to give life a true purpose.
  
• Negative thinking: Looking on the cloudy side, not the sunny side, of life.
  
• Fading altruism: Apparently, helping other people is one key to happiness, but modern Chinese society is steadily forgetting this.
  
• Dissatisfaction: With what one already has, that is. Luo cites a Chinese proverb – “The satisfied man is usually happy” – and observes that there are ever-fewer truly satisfied Chinese left, because of what they see is available if they just had more money, because of what they see their neighbors have, etc.
  
• Distrust: People are increasingly estranged from each other.
  
• Worry: Also known as stress, resulting from a host of new concerns originating from work, children, old-age provision, and the like.
  

It’s no surprise that the issue dominating European news over the last week has been the fallout – in the literal sense – of the Icelandic volcano eruption that has paralyzed most of Europe as an air-flight originator and destination. What has been the surprise is the substantial and expensive impact such an unexpected natural phenomenon had on the very fabric of the economy and other aspects of European life.

Naturally, now that previously-shut airports throughout the continent are gradually starting to resume operations, the sentiment of “Never again!” is taking hold as eyes are cast about in the search of people to blame. In such situations, the temptation becomes overwhelming to avoid having to point fingers by simply blaming a machine, in this case the computer simulation that supposedly was the sole basis for shutting down flight operations once the volcano-ash started to spread. Various aircraft that the European airlines sent up to test actual conditions – including one reportedly dispatched by British Airways with CEO Willie Walsh, a trained pilot himself, aboard – encountered no problems or damage, so that has to constitute conclusive evidence that the flight-bans were panicked overreactions. (more…)

In Germany it has become a fixed tradition that, in a coalition government, the leader of the second-largest party becomes Foreign Minister. This has happened ever since Willy Brandt did so in 1966 as leader of the SPD (Socialist) party, as that party formed a so-called “Grand Coalition” government with the Christian Democrats (CDU), and it has never mattered whether that specific leading politician has any particular affinity for diplomacy, or whether the party he heads has any new ideas or policies on that front. No, the leader of the biggest party becomes Bundeskanzler (or Bundeskanzlerin, in the current case for Angela Merkel), and the leader of the second-biggest becomes Foreign Minister, and that’s that.

And so since late last October we have had Guido Westerwelle, leader of the Free Democrats (FDP), as German Foreign Minister. Just four months – and he already is not having an easy time of it. Indeed, I’ve already had the occasion twice to write about him in this space, once just in passing as I explored the larger question of the new and awkward relation of top German officials with the English language, but also in a more focused way here where, during the time when the current ruling coalition was being formed after the last national election, I discussed an article in Die Welt that examined Westerwelle’s past and psychological formation to question whether he really had the right temperament to serve as his country’s top diplomat.

In that light, the latest Westerwelle flap is rather interesting: In the future Westerwelle wants to travel in peace. (more…)

Need I even say it? Despite fantastic economic figures just out from China (exports up 46% in February year-on-year, 8.7% economic growth in 2009), the world-wide financial/economic crisis is far from over. An ever-expanding list of governments (Greece, Spain, Ireland, the UK – yes, also including the US) have adopted the strategy of grabbing back desperately-needed economic growth through success in increasing exports. A corollary to that is that a weak currency is an awfully handy thing.

Except that it simply isn’t possible, from a mathematic point-of-view, for everyone to weaken their currencies at the same time. Someone’s money – preferably some country with a huge presence in international trade – has to go up in value, relatively. And this gets back to recent Chinese economic performance: China seems to be doing rather well, but it is also suffering from a notable bout of price-inflation. Furthermore, the Middle Kingdom’s currency, the Renminbi, is clearly undervalued – infamously so, even, due to the Chinese government’s explicit policy to protect it with various currency restrictions to be sure to keep it that way. So wouldn’t we find some nice economic solution for everyone by heeding the calls that have been issuing from US officials for some time now and convincing the Chinese government to cut that stuff out and allow the Renminbi to appreciate in value?

Not according to Tobias Bayer, in his opinion piece for the Financial Times Deutschland (Exchange rate policy: Dangerous game with the Renminbi). (more…)

As we can with most of the rest of the world’s newspapers, it looks like those of us who can read German can currently enjoy extensive on-line coverage of the 2010 Vancouver Winter Olympics . . . yes, from the Financial Times Deutschland! Okay . . . but just as would be the case if Sports Illustrated ever decided to expand its news coverage to international bond markets, you have to wonder how successfully the publication in question can bring off the task of either finding or cultivating internally the sort of expertise needed to report in a credible manner on such subjects so far outside of its core competence. In the FTD’s case things are not helped by the apparent lack of reporters’ by-lines attached to the Winter Olympics articles.

Prompted by these concerns – and, to be honest, also by my essential indifference to the pure sport element of the events now happening in and around Vancouver anyway – I’d like to highlight for your consideration this interesting piece covering one mass outdoor sporting activity in which the FTD does boast extensive experience: scrimmages between demonstrators and riot police. A further consideration prompting me to do this is the concern that coverage of such ugly scenes on the Games’ periphery will be downplayed or even omitted entirely by the media (especially TV) that my readers might rely on for their “mainstream” news coverage. (more…)

I have to assume that my Euro-savvy readers will be quite aware of the growing financial crisis involving the euro and the so-called “PIIGS” countries that are in fiscal trouble (“Portugal, Ireland, Italy, Greece, Spain,” though these days Italy is usually left out). Greece is at the center of attention now, and the main issue when it comes to its fiscal problems – combined with its government’s dishonesty in reporting these in the past – seems to be the conflict between the emotional impulses to bail it out from EU or European Central Bank funds or punish its sins instead by simply letting the country suffer. The EU summit in Brussels on Thursday (11 February) is shaping up to be decisive in deciding which way things will go – assuming that the assembled EU heads of government discuss the problem in the first place, as I understand that that is not really on their formal agenda!

The dominant EU country within the governing structures of the EU and the European Central Bank is of course Germany, which is also the main economy in an opposite fiscal situation to that of the PIIGS states and so theoretically able financially to provide much of the aid that Greece needs. That is why it has been interesting to read coverage of this problem in Die Welt, the mainstream German paper not quite as authoritative as Die Zeit (and the latter is more of a pure opinion-publication anyway), but still with a respected reputation as a daily that is distributed nationwide. (more…)

Let us now talk about Iran and nuclear weapons. Why? How about because the annual Munich Security Conference got started today and will run through the weekend, and, from a European perspective at least, that is currently the leading security issue.

But wait . . . here’s maybe a better reason to talk about Iran: the Munich daily Süddeutsche Zeitung is now reporting that that country has a design ready for atomic warheads. The newspaper hints heavily that this revelation is its exclusive scoop; according to information it has managed to obtain, the key to Iran’s efforts was a certain Russian nuclear expert, present in that country from the mid-nineties to the year 2000 (or maybe all the way to 2002), and whose work in developing a certain high-speed camera process was crucial to the Iranians being able to fashion a so-called two-point implosion system for setting off the nuclear explosion. Now the Iranians have the blueprints they need to develop bombs that in fact would be small enough to fit comfortably on the medium-range Shahab-3 missiles they possess. Supposedly, inspectors for the International Atomic Energy Agency know about this new development and concede that the warhead design would certainly work. (It was in fact an IAEA document that was the source for the Süddeutsche Zeitung’s revelations.) (more…)

“The Prez & I”? “Obamamia”? Actually, the musical about Barack Obama that opened on Sunday at the Jahrhunderthalle in Frankfurt, Germany, is called “Hope – The Obama Musical Story.”

The hat-tip for the one noticing this first must go to Jillian Rayfield, affiliated with Talking Points Memo, and then just yesterday David Kurtz from the same site posted a slide-show on the subject. But I soon found my way to the horse’s mouth, so to speak, the German- and English-language website belonging to the musical itself. Check it out: there’s some good information there, even if the English version is written by someone not in complete control of that language and with a fondness for the phrase inter alia (actually a Latin expression, for all you non-lawyers out there, meaning “among others”). The songs that make up the show will surely become hits, it says there, for “[e]xperts of the German music scene” are sure they have that “Earth Wind and Fire [sic] quality”! Even more intriguingly, we learn that “Hope” is the first “interactive musical,” during which most of the audience will sit on cubes (called “percussion chairs”) that double as instruments and so will be encouraged to drum (and even get up off those chairs to dance) along with the performers! Wow!

Right, so how have the reviews been so far? Of the two I can find, the one from the home-town paper the Frankfurter Rundschau (Border of Gaiety) cannot truly be regarded as independent, since the musical’s producers announce right on their site’s “News” page that the FR is a “mediapartner.” Yes, Barack Obama’s story (and a parallel plot-line about the troubles of a South Chicago community) does turn out to be a suitable subject for a musical, opines reviewer Judith von Sternburg, even though back in the real world, after a whole year in office, ugly Reality has already caught up with the President. Von Sternburg is independent-minded enough to label Hillary Clinton’s portrayal (performed by American actress and “Evita” veteran Tracy Plester, who needs only a quick wardrobe-and-wig-change to render Sarah Palin as well) as “a caricature.” Van Sternburg also manages to pick up on, and mention in her piece, the line spoken by the actor representing a son fighting in Iraq, who comes back home just as Obama is elected and declares that surely the war will soon be over now – something the stage-side English-to-German translator at the premier performance skips.

The other review is from the Financial Times Deutschland (Out of Office: Obama Mia!), by Willy Theobald, who it emerges did not attend the actual premier but rather a previous dress-rehearsal. At least that enabled him also to grab an interview with the show’s producer and director, Roberto Emmanuele, who declares to him “Musicals I generally find boring” – as indeed does Herr Theobald – but “I want to make a musical that is fresher [knackiger] and more innovative than all the others.” He goes on: “Our music has quite a lot of hit-potential,” and Theobald does admit that he finds many of the songs “rather infectious” (richtig mitreißend). In the end, the FTD reviewer gives those behind “Hope” a lot of credit, although he can’t resist wondering whether the work will soon need to add another act at the end – one about Yemen.

The verdicts so far out of Germany, then – as few as they are – seem largely positive. Is it perhaps time to go on-line to order your tickets as well as a round-trip flight to Frankfurt-am-Main? Here’s a final YouTube tidbit to help you make your decision:

Football fans out there among you (that is: “soccer”) might be aware that this upcoming Sunday marks the start of the African Cup of Nations tournament, between that continent’s best national teams. An event that happens in January/February every even-numbered year, the African Cup is said to be sure to draw more world-wide interest this time than ever before because, after all, the first-ever World Cup tournament to be held in Africa will follow soon afterwards, in June. That certainly seems to be so, as we have no less than Christian Henkel of the Financial Times Deutschland writing a piece about it, specifically about host-country Angola (Africa Cup: Hoping for Angola’s Art of Improvisation).

Then again, perhaps Henkel’s interest here is more of the rubbernecking variety, the irresistible attraction to passers-by of a ten-car highway pile-up, since Angola’s hosting does seem to be a disaster in the making. In the middle of his piece he mentions the “open secret” that none of the other participating African nations really wanted Angola to be the host. Why? Mainly because – according to Henkel – Luanda, the capital city, has ranked as the world’s most-expensive capital since 2008. Twelve euros for a double cheeseburgers; more importantly, three hundred-euro per night as the cheapest room-rate at any passable hotel. The latter naturally impacts directly on the other national teams that will be spending time in the country to compete, but it also means that precious few of their fans will be able to travel along with them. Those fans will also suffer from the country’s “catastrophic” transportation infrastructure as they try to get around to the various games, with no formal system of taxicabs and no real public transportation. That’s where the “improvisation” in the title comes from: that hope is all that both organizers and participating teams have left to clutch at towards a four-week tournament that won’t end up making everyone (other than the hosts) penniless and insane. (Ticket prices for the games, however, are said to be quite reasonable.)

Perhaps you’re asking “How could a country that just emerged from a long civil war [it ended in 2002] be so expensive?” The answer is oil, as well as diamonds, which together have made the economy quite fast-growing, but really only for a few. Henkel cites one figure that, while some can afford the €12 double cheeseburgers, 70% of Angola’s population still subsists on less than €1.50 per day. The Africa Cup tournament is in the minds of some – somehow – supposed to help heal this divide; in the words of the Angolan Minister for Youth and Sport, Gonçalvez Muandumba*, “The Africa Cup should kindle enthusiasm for sport in our population and thereby further social integration.”

* With apologies to Dave Barry, I hasten to assure you that I did not just make that name up!

If you’ve been following the news out of the US recession at all, you’ll be aware of how General Motors recently beat all the experts’ expectations by successfully reorganizing under American bankruptcy laws (“section 363” and twenty-three skidoo!) within the actual forty days that the company and the Obama administration claimed was all that was needed. But according to Matthias Ruch, New York correspondent for the Financial Times Deutschland (GM, the little giant), it’s all going to be uphill from here on out. From his lede: “Opel’s mother-company is now celebrating her own rebirth. But this new beginning is more form than substance [German: mehr Schein als Sein]: the former auto-giant is just blundering on aimlessly.”

That rapid reorganization was indeed an impressive achievement, though it necessarily had to be accomplished in broad, slashing strokes: $40 billion in debts were canceled outright, and the former auto-making colossus was split into a “good” and a “bad” company, the latter (now with the catchy monniker Motors Liquidation Company, if you’re in the market for some cheap assembly-line equipment) now little more than a pile (better in German: a Schrotthalde) of discontinued brands and factories. But Ruch lets us know that the new company still retains financial “obligations” in the double-figure $ billions range. (more…)

It’s interesting to see happening now in the on-line German press a vigorous discussion of that latest of modern-day philosophical questions: Of what use – if any – is Twitter? Granted, the Germans are probably coming around rather late to this subject, and you’d also have to think that their attention was attracted to it by the role Twitter played in the recent street demonstrations in Iran. But Fabian Mohr, writing in Die Zeit (Twitter: The media revolution that is not one), does provide some thoughtful arguments about this recent micro-blogging craze.

Now, as you might expect he has been driven to take up his pen by a spate of recent “What’s it good for?” attack-articles, such as in the Süddeutsche Zeitung (by Bernd Graff; the title is pretty untranslateable – Tschilp, tschilp, bla, bla – and yes, part of the caption under that picture up-top of the two parrots cuddling asks “whether these two have rather more to say [i.e. that’s interesting than Twitter-tweeters]?”), and even in his own Die Zeit (by Jens Uehlecke: Stop with the chatter [already]!; Geschnatter basically = “chatter”). One rather perceptive point he makes is to point out the parallel between reactions to Twitter among many journalists (“highly hysterical”) and the reception that weblogs met with when they first came into prominence about five years ago (wasn’t it about then?). (more…)

One element in a new spending bill now agreed to by both the US House and Senate is a provision which would provide a US Government voucher of up to $4,500 to Americans to trade in their old automobile for a new one – preferably one more fuel-efficient. It does seem that, as things have proceeded through the legislative process, the motivation of stoking domestic demand for new automobiles has plainly won out over the initial environmental reasoning behind the measure, but at least it does seem pretty guaranteed that the former aim will be accomplished. That much we know from the experience in the country that implemented this idea in the first place, and Birgit Marschall and Martin Kaelble of the Financial Times Deutschland point out that this Abwrackprämie, or “scrapping premium,” is namely a German fiscal innovation. (more…)

It’s Friday, 3 April – do you know where your American president is? I’ll give you a clue: today he is generally in the area of the French/German border where it is demarcated by the Rhine: in Germany at Baden-Baden and a village called Kehl, but mainly at French Strasbourg for a combined NATO summit and celebration of that alliance’s 60th anniversary. That organization may even get a new secretary-general as a result of this gathering; current Danish premier Anders Fogh Rasmussen is the favorite to the Dutch Jaap de Hoop Scheffer, who has held that position for five years now.

Amid all the honor-guard reviews, meetings, and celebrations one prominent voice calls out forlornly from the sideline, like a jilted past lover of the bridegroom at a wedding. It belongs to Mikhail Gorbachev, the last General Secretary of the Communist Party of the Soviet Union, winner of the 1990 Nobel Peace Prize, and a man highly “involved” (at least in terms of the measures he did not take) in the wave of revolutions in 1989-90 that took Eastern Europe out of the Soviet bloc. Both the Financial Times Deutschland (Gorbachev criticizes NATO expansion; no by-line) and the Czech daily Lidové noviny (NATO decieved the Russians, Gorbachev maintains, article by Petra Procházková) are now carrying reports of recent remarks he made to German media outlets accusing the West of breaking certain promises that were made to his government back at the time of German reunification in 1990. (more…)

Two recent reports in German (on-line) publications suggest that Pope Benedict XVI is due shortly to find life there at the Vatican to be a bit more difficult.

The first comes from Der Spiegel: Ratzinger authorized text for a right-extremist book. “Ratzinger” is of course the surname the present Pope was born with; this report concerns an article published back in 1997, when he was merely Cardinal Ratzinger. That piece appeared in an edition of the monthly magazine Aula called “1848 – Heritage and Mandate,” published by an Austrian right-extremist organization that a few years earlier had ignited controversy there by publishing a denial of the Holocaust. His secretary at the time, a Vatican official named Clemens, did provide permission in writing to Aula to publish the Cardinal’s article, even though a spokesperson for the Vienna archdiocese tried to deny this. Aula had previously been the house-organ publication for Austria’s Freedom Party, the one headed by the notorious (and late) Jörg Haider, but had been cut loose by that party at the time of the Holocaust controversy.

We’ll see if this story gains any further traction – after all, it was only this Clemens guy, rather than Cardinal Ratzinger himself, who can be shown as committing the mistake of dealing with these right-wingers. Still, this controversy comes at a bad time, considering the recent fuss over Benedict XVI revoking the excommunication of the English bishop, and Holocaust-denier, Richard Williamson.

And then there is the coming blow to the Pope’s holy pocketbook, reported by Matthias Oden in the Financial Times Deutschland (Thou shalt not run riot). (more…)

I almost missed it, but here is the article I had been waiting for about the big question now confronting the German government. With Opel allegedly only having about a month’s worth of cash left – should it stay or should it go? We have recently touched upon this affair here, although that previous treatment was shaped around the emergence of an Opel fan club whose members certainly see both a notable past as well as a promising future as perfectly good reasons for the German State to intervene to help see the car company through.

Wolfgang Münchau, of both the Financial Times and Financial Times Deutschland, although evidently German himself, clearly does not class himself among that group of Opel fans. His commentary piece is cheerily entitled Have a good trip into bankruptcy!, and he begins it with the generic tale of what has happened to him at many a rent-a-car stand in Germany: sorry, the friendly lady behind the counter informs him, but we’re all out of our VW, Mercedes, and BMW models for you to choose from, how about that Opel there in the corner? Münchau says that, at such times, he is always sorely tempted to simply rent a bicycle instead.

OK, so it’s evident from the start that Opel can expect no favors from this particular FT/FTD columnist. Unfortunately, the analysis that ensues about why the German government should just stay hands-off and let the firm go meet its demise is precise and mostly incontrovertible. Opel does not embody any sort of key technology that would need to be preserved by keeping the firm alive. (Actually, although Münchau does not bring it up, even if Opel did possess some snazzy proprietal technology, it would inevitably be owned by the parent company, GM. More on this below.) And its closing would not overwhelmingly hit any particular region or industrial sector, he writes. (I have my doubts about the former; Rüsselsheim, a German city in Hesse near Frankfurt and the Rhein and Main rivers where the main Opel factory-complex is housed, would become quite a forlorn place if Opel were to shut its doors.) (more…)

Just in case it might be of interest, here is the article on the Obamas’ choice of a White House dog from the Financial Times Deutschland. Yes, that’s right: the article in the Financial Times Deutschland about the Obamas’ dog. (It’s entitled “There will always be more dogs”.)

Actually, if you’re willing to concede that a serious business newspaper like this is supposed to be reporting about dogs in the first place, the article (by Anja Rützel) is faintly amusing. As we all know by now, the First Pet is to be a Portuguese water dog, but Ms. Rützel lightly casts doubt upon what she clearly regards as a somewhat weird choice: “A properly-trimmed water dog looks like he has wrapped a bed-side rug around himself and is wearing to the rear some very tight stockings.” Then again, such dogs apparently have webbed feet and have been known to save drowning people – is the White House planning to cut payroll by doing without a lifeguard for the swimming pool?

Ms. Rützel also briefly examines the names for the dog brought forth so far (and immediately rejected) by Michele Obama. She claims “Frank” has been hailed by the election committee of Germany’s governing SPD party (whose candidate for Chancellor in the elections this year will be Foreign Minister Frank-Walter Steinmeier – get it?), but could ultimately prove problematic during international negotiation sessions at the White House. (“Heel, Frank!” the President might brusquely command.) As for “Moose,” she comes up with the (not-so-original) thought that this name might just tempt Sarah Palin to shoot the dog out of a helicopter.

It’s over: they caved. Maybe some of us had been looking forward to a real-world macroeconomic experiment with Germany boldly carrying the banner for that strain of economic opinion – that is still out there, loud and boisterous – according to which massive government spending is the wrong way to counter the current economic crisis. But now, with the €50 billion Konjunkturpaket II it just announced, the German federal government has hopped on the mega-spending bandwagon with everybody else. It seems it’s just too hard, even for Germans, to be prudent and thrifty in front of the voters when you face a general election later in the year.

The FAZ gives a good summary of what is involved – as you would expect from the FAZ: The main points of the Konjunkturpaket: Car turn-in premium, debt-limitation, and rescue-shield – and at its core lies the usual combination of infrastructure investment and tax-cuts, just this time auf deutsch. Most of the infrastructure investment will go into schools; to help the auto industry, people will get a payment of €2,500 if, upon buying a new car, they turn in their old one; and there will be set up to assist small businesses finding it hard these days to get credit a counterpart to that “Soffin” we’ve discussed here so much lately, i.e. the government-run fund for bailing out troubled banks. (more…)

Let me start here with a quick apology to my €S readers: I know that the subject dominating the headlines these days is the Israeli incursion into the Gaza Strip, so I am overdue in bringing up for discussion on this forum some apposite article in the non-English-language press that supplies a piquant perspective on the tragedy unfolding there. And “overdue” I will have to continue to be, as I have yet to find a piece that truly qualifies for that treatment, unless you are willing to count my indirect approach to the Mid-East in the form of my previous discussion of what is possibly – but probably not – a little-known source of EU leverage over Israel.

I’ve got another indirect take for you here: Questions of leverage apart, has the question crossed your mind as to why on earth there appear to be two EU delegations heading to Israel to try to influence things there, namely the one headed by the Czech foreign minister Karel Schwarzenberg and the one with French president Nicolas Sarkozy? Seems rather inefficient, no? Still, it all becomes perfectly logical in light of the fear and loathing felt across the EU at the accession – brought about simply by the requirements of the EU calendar – of the Czech Republic and Václav Klaus to the EU presidency for the next six months. To these observers, the contrast between what they fear from the Czechs and the admirable activism that marked France’s just-completed term at the presidency is so agonizing that they simply can’t let go – and thus you see, in effect, both “before” and “after” versions of EU diplomatic delegations in the MidEast.

This fear of what the Czechs may bring to the EU at what has turned out to be a crucial period, both for its internal affairs and its external relations, is real. Quite apart from the beginner’s mistakes you can expect from a small country undertaking the presidency for the first time, there is great worry over Klaus’ controversial stands on various EU issues and how they might serve to gum up the works still further. (A broad segment even of Czech opinion shares these concerns, by the way. I’ve got to see if I can find an article or two out of the Czech press about that to discuss.) But today there comes a most interesting opinion piece in the Financial Times Deutschland, by Nils Kreimeier (Witch-hunt in Prague), that bravely takes up the unconventional view that maybe Václav Klaus is not someone to worry much about but rather is the sort of personality that the EU should welcome. (more…)

Uh oh, here we go with the Financial Times Deutschland again! I swear, when I go looking for interesting European news to pass along, it’s not as if I first head directly to the FTD’s site (or, more accurately, to its RSS feeds). On the contrary, I always do try to cast my nets wide. It’s just that today’s economic report from them has a certain . . . let’s say spice to it, that I’m sure it won’t take you long to pick out.

The article is entitled Italy shocks itself to health, by FTD Milan correspondent Andre Tauber, and no, it has nothing to do with any kind of electro-therapy. It is rather about the fiscal stimulus plan recently announced by Italian premier Silvio Berlusconi. You know: the UK, Germany, Spain, etc. have each announced their own such plans recently (the United States is a laggard for well-known “lame duck” reasons); not only do the perilous financial times require such an initiative nearly everywhere, but in fact that was one thing the parties agreed to at that “G20 summit” in Washington, DC back in mid-November, i.e. that they would each more-or-less at the same time come out with their own stimulus plans, since it is disturbing to currency- and various other world economic equilibria if some nations hold back.

So Italy, too, has climbed aboard this stimulus-plan bandwagon. But, as Tauber reports in his article, Belusconi’s proposal has a few unique characteristics of its own. (more…)

They’re getting impatient out there in the outside world for Obama – real impatient. Last week’s attacks in Mumbai only made this situation worse, to the point that India’s crisis has somehow become Barack Obama’s crisis. This we read even in the normally-sober Financial Times Deutschland, in an article by Washington correspondent Sabine Muscat: “Evil prophecy for Obama.” The lede: “He is not yet president. And still the attacks in India are the first test of the foreign-policy man Barack Obama.”

In truth, this “Barack Obama’s first foreign policy test” has been a red-hot label looking for something to which to affix itself ever since he won the election, if not even before. For one thing, remember the remarks on the campaign-trail by Joe Biden – comments apparently not particularly welcomed by the Obama campaign – about how there surely would occur some international crisis early in the new administration, one deliberately engineered to test the new president’s resolve. As Muscat points out, this “evil prophecy” was also a line White House press spokesperson Dana Perino was pushing – for obvious partisan purpose – just before the election, and it was certainly part of John McCain’s own pitch, implicitly if not explicitly. In these early-transition days, then, it would not have taken much of an unpleasant nature, happening anywhere in the world, to turn into “Obama’s first foreign challenge,” with all eyes swiveling to Chicago to see what he intended to do about it. (more…)

“[T]his is a major issue,” President-elect Barack Obama noted in his first post-election news conference yesterday. “I think it’s generated more interest on our Web site than just about anything.” He was speaking, of course, about the pressing personnel decision for his incoming administration: what sort of quadruped is to be appointed as First Dog? America’s allies clearly share his concern; it’s the subject of an article in no less than the Financial Times Deutschland (The animal for the president, by Anja Rützel). The lede: “Barack Obama promised his daughters a whelp. What that says about the new president and means for all of us.” (more…)

Look – as Fred Armisen might put it – I know that the Financial Times Deutschland is continually obliged to justify its right to the salmon-pinkish paper it is printed upon by upholding the same standard of serious and reliable business- and financial-journalism as that embodied by the original (British) Financial Times that engendered it . . . but perhaps sometimes it can just go too far.

As with the latest FTD opinion column by Henning Jess – entitled Präsident Witzig, which literally is “President Witty” or “President Funny” – whose point is to ask, “In these very serious times, how come Barack Obama and John McCain are joking around so much?” (more…)

Financial disaster; terrorists; war: could we briefly change the channel here, to something a bit less world-shaking, a bit more ludicrous? Even if that means taking up for discussion a subject distinctly “out-of-season,” like Christmas in July . . .

. . . or the Eurovision Song Contest in September. That extravaganza happens every year like clockwork the third week of May, of course, and this weblog (if actively being written at the time) has always had something to say for the occasion – usually of a mocking nature, it must be admitted. My last treatment of the contest, however, in May of 2004, a post entitled “Eurovision Gerrymandering,” went beyond mere ridicule to point out the obvious voting-patterns evincing inter-country cooperation and log-rolling which was resulting in completely bogus, ridiculous, and incompetent acts coming out at or near the top simply because of their nationality.

But all is not lost! Finally there has been a change to the Eurovision voting rules that should help address this problem, pointed out last week in the Financial Times Deutschland by Stephan Radomsky (»Moscow Calling«). (more…)

He came out to the podium, he gazed out upon the 80,000 upturned faces aglow – and then last night Senator Barack Obama laid out his vision for his presidential campaign and for the presidency presumably to follow.

Don’t get me wrong: I’m not trying here to push any Republican-inspired “Messiah” or “Moses-parting-the-seas” irony to cast last evening’s events in a disparaging light. Indeed, it was an impressive spectacle – complete with letter-perfect weather! – that itself rightly dominated the news-cycle and to which reactions still dominate that news-cycle this morning.

The same is not quite true in Europe, which has plenty else to talk about today, but Barack Obama’s speech has still gotten plenty of attention even now (i.e. as your EuroSavant writes this), less than 12 hours after it was delivered. Let’s again start with reactions from those who were vouchsafed their own up-close look at the Senator’s speechifying, last July in Berlin, namely the Germans. (more…)

It looks like the Obama presidential campaign finally sent out its promised and long-awaited SMS message announcing its choice of Joe Biden for vice-presidential nominee at that storied hour of 3:00 AM on Saturday. While that meant that all but the most obsessive American politics-junkies would have to wake up to learn of the news, over here in most of Europe (on Central European Time) it was already 9:00 in the morning and we were getting impatient over our coffee and breakfast for the Word. (Admittedly, a couple of hours previously outlets like the BBC World Service were already passing along the likelihood that it would be Biden, based upon key clues – such as the departure of an Obama campaign jet from Chicago’s Midway Airport headed for Delaware – tracked down by the American press.)

Now that Word has come, together with a presentation to the public of the combined ticket at a gala event in Obama’s political hometown, Springfield, Illinois. And while the McCain has already come forward with its response, so have commentators in the European press. (more…)

The hostilities in Georgia seem to be dying down now. Russian forces are withdrawing – or at least they are supposed to withdraw, under the terms of the cease-fire they signed, but there is considerable doubt as to whether they are actually fulfilling that obligation.

In the meantime, the countries of the NATO alliance struggle to come to terms with the new ruthless military face Russia has shown in this crisis. Germany now stands central in that military alliance, in the same way it has stood central for some time now within the European Union, again because of its sheer weight of population and economic power (and, who knows, maybe also its reputation for military ability in the past), which makes German commentary on these recent developments particularly interesting.

A very good contribution comes from Jochen Bittner, who writes a weblog, called Planet in Progress, that is carried off the Die Zeit webserver. (more…)

With his commentary piece in the Financial Times Deutschland (Sterile Games in Peking) Claus Hecking wraps up all the repeated instances of fakery that have been brought to light already at this year’s Beijing Olympics – and they are only about half over! – into a thought-provoking synthesis: together, he maintains, they add up to a profound and very revealing cultural misunderstanding.

If you’ve been paying attention at all, you know what “fakery” I’m talking about here – (more…)

It’s all a bit bizarre: Here at EuroSavant we consider the Economist’s on-site blog Certain Ideas of Europe to be something of a watered-down competitor, in that its (anonymous) writers evidently command a few European languages themselves and take advantage of that often to remark upon noteworthy articles in the European press (really only the French and the German). Yet in its own day-after Obama-Berlin coverage, what else does Certain Ideas of Europe choose to highlight out of reaction to Obama’s Berlin speech from the German Fourth Estate than a breathless piece from the Bild Zeitung (Britons: think The Sun; Americans: maybe The New York Post but – as we’ll see – with a bit greater tolerance for female nudity.) The blog entry is entitled Obama and the ‘BILD girl’. Wow – 27-year-old Bild reporter Judith Bonesky (stifle the puns!) finds herself together in the gym of the Ritz Carlton hotel with HIM! Oh, he’s much taller than she had expected! They exchange some “How are you?”s! Then he goes and starts hefting some impressively-big weights, in such a manly fashion, without breaking a sweat! Naturally, when it’s time for him to go (he’s got a speech to deliver), she grabs her chance for a smugshot with the candidate. (more…)