Nobody asked the German people if they wanted the euro. Now, almost 15 years after Europe introduced its common currency, a new political party has emerged to campaign for a return to the deutsche mark.
Oil skeptics like to point out that the U.S. consumes 20 percent of the world’s oil but owns only 2 percent of global reserves. Such lopsided numbers, they insist, destine the U.S. to depend on foreign crude -- unless it slashes its consumption and embraces alternatives. Lately, though, a surge in U.S. oil production appears to have turned the tables.
Following is a timeline of the key steps on the road to the euro currency, from the Bretton Woods conference in 1944 to last week’s agreement to set up a “fiscal compact” among countries using the single currency.
A Berlin court will tomorrow examine who is the rightful owner of a 400-year-old gilded chain that lay buried in an East German graveyard to conceal it from Soviet authorities and was dug up by stealth 20 years later.
Stephan Werhahn remembers playing at the feet of his grandfather as a child. The man was a towering figure in more ways than one. Lionized as Der Alte, or the Old One, Konrad Adenauer was West Germany’s first postwar chancellor, a founder of the Christian Democratic Union (CDU) political party and an early proponent of European unification.
Germany’s Chancellor Angela Merkel has at last opened the door to the possibility of writing off Greek debts, but only several years from now. As they decide on the right thing to do, Germans should take a close look at their own history.
Representative Ed Royce, chairman of the House Foreign Affairs Committee, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that the U.S. should increase the economic pressure on North Korea to force its leaders to abandon their nuclear weapons program, and sees a chance China might support such efforts.