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| German
stock trader in disbelief. (Photo: AP) |
Germany Struggles with Stagnation: Between a Rock and a Hard Place
After the European Commission cut its 2001 forecast for growth in
Germany to 2.1 percent, the driving force behind the European Union
suddenly found itself lagging behind all other EU member states. Germany
generates 24 percent of the EU’s gross domestic product, but
its budget deficit this year is expected to be the largest in the
EU. The German economy rests mainly on exports, and the global economic
slowdown, especially in the United States, has hit home. Faced with
rising unemployment (9.5 percent in April), dwindling tax revenues,
and climbing budget deficits, Chancellor Gerhard Schröder’s
government is scrambling for an effective fiscal policy before next
year’s general election. Europe’s powerhouse is now faced
with the formidable prospect of overhauling its social and economic
system to regain a competitive global foothold.
Out of Step Matthew Fisher,
writing for The Toronto Sun (conservative), finds a metaphor
for Germany's economy in the gloomy Hannover Messe [Fair]. 
Lackluster Economic Report Card "Germany's economic upswing
has come to an end," writes Bettina Bonde, for Frankfurter
Allgemeine Zeitung (conservative).
Poverty Report Reveals Widening
Disparities Zurich's Neue Zürcher Zeitung (conservative)
reports on the findings of the German government's recent "Poverty
and Wealth Report."
| Special
Reports: |
The Small-Arms Scourge —
How Illegal Gun Traffic Holds the World Hostage An in-depth
look at the sordid world of arms smuggling and its disasterous
effects.
The Lessons of NAFTA: How Mexico
Has Fared
The recent summit in Quebec City to discuss the proposed Free
Trade Agreement of the Americas (FTAA) leads Marcela Valenta,
of Rome's Inter Press Service, to look at the effects the North
American Free Trade Agreement (NAFTA) has had on Mexico. Her
findings should make the leaders of South American states nervous...
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Other
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Regional Reports: |
Israel:
Deadly Cargo
Israel recently intercepted a Lebanese
fishing boat smuggling heavy weapons to Gaza. Associate
editor Tekla Szymanski reviews coverage in
the Arab and Israeli press.
Ireland:
Toward Perfect Union
Ireland's waning love affair with
the European Union faces a stiff test when the electorate
votes June 7 on whether to accept the terms of the
Nice Treaty. Denis Fitzgerald reviews the
Irish press.
South
Africa: Leadership Crisis
President Thabo Mbeki's increasingly
erratic behavior has the South African press wondering
if he is fit to govern. Acting associate editor
Sarah Coleman reports.
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Nations: |
Disputed
Oil Production in Southern Sudan
Canadian, Chinese, and Malaysian
oil companies are pumping 212,000 barrels of oil
a day out of southern Sudan. Witnesses alledge that
the Sudanese army has been razing the areas surrounding
the oil fields, leaving the local inhabitants homeless.
Kristina Bergmann reports for Zurich, Switzerland's
conservative daily, Neue Zürcher Zeitung.
Vaulting Ambition: Malawian
President Muluzi's Bid for a Third Term
President Bakili Muluzi is battling
the church, the state, and the press to run for
a third term of office. WPR correspondent
Busani Bafana reports. |
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