Word: der
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Dates: during 2000-2009
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...only is Germany edging ever closer to the 3% mark, but Gerhard Schröder, with a mixture of heavy-handedness and hauteur, has even muscled the Commission into withholding the obligatory letter of warning. How could he do this? If you run the biggest economy in the E.U., you can. Especially if you get two more biggies, in this case, France and Britain, to go along, or at least not to oppose...
...outcome is a victory of sorts for Schröder, who must face the electorate in September, but a disaster for Europe. If the preacher goes off the wagon, why should his flock stick to sobriety? How will the Commission be able to chastize Italy, Portugal and France, whose deficits are swelling, if it caved in to the Berlin bully? The euro, which since its inception in 1999 has plunged nearly 25% against the dollar, will surely not rise soon...
...stiffing of the Commission the only sin of the once so Europe-minded Germans. Indeed, Schröder has racked up quite a record in recent times. Take cars, something very dear to the European consumer. Competition Commissioner Mario Monti wants to break up the informal shelters that allow carmakers to charge different prices in different markets. But Schröder, eyeing the profits and employment rolls of VW, Daimler, Opel et al., doesn't like it. Liberalization of the energy market? No, says Berlin, we don't want a European regulatory commission that would set Europe-wide "tolls...
...moral of this tale is "neomercantilism," the protection of one's home market against competition from abroad. The Schröder government has become quite shameless in this game, using its muscle in European councils as if it were the direct descendant of Louis XIV and his protectionist Finance Minister Jean-Baptiste Colbert...
...unexpected in politics will remain a feature of 2002. The U.S. President's popularity rating is above 90%, the highest in the history of the republic. In Europe, many incumbents may not be so lucky. German Chancellor Gerhard Schröder, who faces an election in September, has seen his chances dented by the continuing economic slump. In France, Prime Minister Lionel Jospin and President Jacques Chirac will likely face off for the presidency in a contest that begins in April - but Jospin has been hit by France's failing economy and Chirac by corruption allegations. Asia...