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Angela Merkel

Germany’s Social Democrats and the European Crisis

by Walden Bello | Dec 21, 2011

Germany towers over Europe like a colossus. Its economy is the biggest in the European Union, accounting for 20 percent of the EU’s gross domestic product. While most of Europe’s economies are stagnating, Germany’s will have grown by some 2.9 percent in 2011. It boasts the lowest unemployment rate, 5.5 percent, of Europe’s major economies, compared to those of France (9.5 percent), the United Kingdom (8.3 percent), and Italy (8.1 percent).

Europe Taking Lead on Speculations Tax

by Sarah Anderson | Jun 30, 2011

Out of the ashes of the 2008 financial crisis, an idea that progressives have been kicking around for decades – a financial transactions tax (FTT) – took on new life. There were high hopes that the G-20, which had declared itself the “premier forum for international economic coordination,” would take up the proposal as a way to raise massive revenues to pay for the costs of the crisis and also discourage reckless short-term financial speculation.

Climate Change Flap at the G8

by Walden Bello, John Feffer | Jun 6, 2007

The headlines in the lead-up to the Group of Eight (G8) meeting here in Rostock have focused on the dispute over the proposed declaration on climate change. German Chancellor Angela Merkel wants the rich countries to commit to limiting global warming to two degrees centigrade. This will involve cutting greenhouse gas emissions to 50% of their 1990 levels by 2050 and increasing energy efficiency by 50% by 2020. Merkel’s proposal drew predictable opposition from George W. Bush. However, to contain further damage to his battered image, Bush called for a conference of the biggest greenhouse gas polluters to deal with global warming. This has alarmed Merkel, who wants to keep the process securely within the United Nations.