Since the old Babylonians looked up to the stars, man has been thinking about the future, trying to read it from tea leaves, from the livers of sacrificial animals or derive it from the stars of the zodiac. Nowadays, we tend to be more modest: at most we ask what will happen in the next ten to twenty years – for example, how people will judge the Merkel era after her successor occupies her position. Continue reading To „sinn“ or not to „sinn” – that is the question
The euro area is struggling for survival. If you are still in doubt, listen to all those by now far less self-conscious, far less apodictic pronouncements of leading representatives from politics and economy. At the G20 summit in Los Cabos Jose Manuel Barroso even lost countenance!
“The euro is not in danger!” How often did Wolfgang Schäuble, Minister of Finance, how often did the gurus of politics, economics and finance feign unshakable certainty! To no avail. By now, pure fear has spread to the Commission and the European Parliament. With the euro’s collapse not only the idea of European unity will be damaged – the Brussels Babel of Eurocrats will falter as well and with it thousand of its richly endowed sinecures. Continue reading Europe’s Fiscal Pact – or how to make a deal with the devil