Europe
France Simmers In Its Own Juices, Germany Frets
by Wolf Richter • • Comments Off on France Simmers In Its Own Juices, Germany Frets
Obama to EU: Get Your S__t Together; Got An Election Next Year
by Wolf Richter • • Comments Off on Obama to EU: Get Your S__t Together; Got An Election Next Year
Bailout Rebellion in Germany Heats Up
by Wolf Richter • • Comments Off on Bailout Rebellion in Germany Heats Up
China Puts The Screws To BMW
by Wolf Richter • • Comments Off on China Puts The Screws To BMW
And BMW blinks. With sales of new vehicles approaching 18 million units in 2011, China is the largest car market in the world, far ahead of the US. No major car maker would want to miss out on the opportunities in China. Yet, there is a problem: Pressure by the Chinese Government to transfer the newest technologies.
Germany Special: Divorce, Remarry, Get Fired
by Wolf Richter • • Comments Off on Germany Special: Divorce, Remarry, Get Fired
The right of German religious organizations to terminate an employee for violating their moral codex, even in deeply private situations, has been affirmed by the Federal Labor Court. And they’re among the top employers in Germany! If you’re a divorcee and work for a Catholic hospital, you may get fired if you remarry. Heck, you may get fired for getting divorced.
Bailout Rebellion In Germany
by Wolf Richter • • Comments Off on Bailout Rebellion In Germany
‘Let the Euro Die,’ Said the Woman Who Could Be the Next French President
by Wolf Richter • • Comments Off on ‘Let the Euro Die,’ Said the Woman Who Could Be the Next French President
Knife Drawn, the Bundesbank Attacks the ECB, and German Industrialists Tremble
by Wolf Richter • • Comments Off on Knife Drawn, the Bundesbank Attacks the ECB, and German Industrialists Tremble
The Bundesbank lashes out at the ECB for its decision to print money and buy crappy bonds of eurozone countries that lived high on the hog for years but are crumbling under a pile of debt. This puts it on collision course with the German industrialists that got rich off those countries. Angela Merkel is caught in between.
Swiss Franc Wreaks Havoc In Switzerland
by Wolf Richter • • Comments Off on Swiss Franc Wreaks Havoc In Switzerland
The run-up of the Swiss franc entailed a stock-market crash, gigantic hits to wealth invested overseas, and big losses in Swiss pension funds. Companies are reeling. Layoffs and a recession are next. The Swiss National Bank (SNB) flooded the market with francs, intervened in the currency markets, and forced real interest rates into negative territory. Without much success.