| SPIEGEL ONLINE | INTERNATIONAL NEWSLETTER |
| Compiled on September 12, 2012, 06:51 PM CET |
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Green Light for ESM
German High Court OKs Permanent Bailout Fund with Reservations Germany and Europe can both breathe a sigh of relief on Wednesday: The Federal Constitutional Court has rejected a petition to stop the ratification of the permanent euro rescue fund, the European Stability Mechanism. The decision clears the way for the ESM to go into effect. |
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Ceding Power
Ruling Shows Court's Weakness in Europe Matters The ruling on Wednesday by the Federal Constitutional Court on the euro bailout fund makes one thing very clear: The Karlsruhe-based institution will not stop European integration because it can't. The justices have created expectations among the people that they are no longer able to fulfill. |
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'Germany Must Lead or Leave'
George Soros' Plan to Save the Euro Germany has the potential to either save the European Union and the euro or destroy both -- so it must either lead or exit the common currency zone. What can't happen is further waiting, star investor George Soros writes in an essay for SPIEGEL ONLINE. A role as a "benevolent hegemon," he argues, would be better than leaving the euro. |
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Economist Straubhaar on the ESM
'Germany Has to Accept More Redistribution' Does the introduction of the ESM bailout fund mean Europe is turning into a transfer union? Economist Thomas Straubhaar argues that it is -- and that it's a good thing. In a SPIEGEL ONLINE interview, he says that Germany will have to get used to sharing its prosperity with other countries. |
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Constitutional Court Ruling
A Setback for Germany's Euroskeptics Germany's Federal Constitutional Court has rejected a lawsuit brought by opponents of the euro, and has set only a few conditions for the ratification of the European Stability Mechanism and the fiscal pact. The main proviso is that the ESM cannot increase the scope of Germany's liability without the country's agreement. What will the ruling mean for Berlin and Europe? |
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Disgruntled Cabin Crew
Lufthansa's Cost-Cutting Strategy Backfires The anger that fueled last week's strike by Lufthansa cabin crew members caught the company off guard. The airline wants to reduce its relatively high personnel costs, but appears to misunderstand how certain efforts to do so have alienated their employees. |
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Violent Protests in Egypt and Libya
Deadly Attack Evokes Uncomfortable Memories The film clip is just 15 minutes long, but it was enough to lead Islamists protesting its disparaging depiction of the Prophet Muhammad to storm the US Embassy in Cairo and kill the US ambassador in Libya. The deadly escalation in the Middle East is an orchestrated one -- and it is not just Muslim extremists who are behind it. |
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Neo-Nazi Terror Cell
Intelligence Agency Tried to Recruit Uwe Mundlos German politicians are outraged at the revelation that the military intelligence agency withheld information about trying to recruit as an informer a man who would later become a member of the neo-Nazi terror cell currently under investigation. Chancellor Merkel has promised that the case will be cleared up. |
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An Expensive Farce
Germany's Somali Pirate Trial Is Pointless When 10 Somali pirates were brought to trial earlier this year in Hamburg, many viewed it as promising a minor victory against lawlessness on the high seas. But the trial has turned into a pointless and expensive circus. The battle against piracy off the Horn of Africa won't be won in German courtrooms. |
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Picture This
Bald as a Coot |
