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...that most of the calculations on stimulus packages forget the so-called automatic stabilizers: Europe's generous welfare payments that kick in when unemployment rises. "The U.S. government should better familiarize itself with economic-stimulus measures in Europe that have already been started or are about to get started," German Finance Minister Peer Steinbrück said at a meeting of E.U. economic and finance ministers on March 9. German Chancellor Angela Merkel said in February that she wants the G-20 summit to focus on reforming financial markets and that she sees the stimulus debate as a distraction...
...reason for the surge: under a German economic stimulus program started in January, car owners who trade in vehicles that are more than nine years old for new, more environmentally friendly models can expect individual rebates of $3,172 from the German government. Buyers also get a break from paying road tax for at least a year. Similar scrapping schemes have been launched in recent months in France, Italy and Spain, while motor manufacturers in Britain are pleading with their government to follow suit. (See the 50 worst cars of all time...
...jobs - dropped to a 15-year low last year, with little sign of picking up in 2009. Toyota announced on March 11 that 4,500 workers at its British factories would see their pay and hours slashed 10% for a year starting in April. The German and British governments are still in talks with GM over potential aid for the U.S. automaker's beleaguered European subsidiaries, Opel in Germany and Vauxhall in the U.K. GM says it needs some $4.2 billion to save its businesses in the region. (See pictures of workers...
...been boosted by the government's initiative, but a surge in orders for Italy's Fiat and Renault of France means "two-thirds of the additional sales are imported cars," says Ferdinand Dudenhöffer, an auto-industry expert at the University of Duisburg-Essen. "And most of the German cars which are booming are at least partly produced elsewhere...
...showing a series of films funded by and promoting the Marshall Plan in Western Europe in a program called “Selling Democracy, Films of the Marshall Plan: 1948-1953.” The event, organized by curator Sandra P. Schulberg and funded by the Goethe-Institut (a German non-profit cultural institute), features 25 short films constructed around the Marshall Plan’s deployment in Europe. The films range widely in genre and rhetorical strategy, from simple narratives about how the Plan’s programs could improve daily life, to more broadly pedantic lectures...