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Legislators who voted against the pact, however, said it was a victory for civil liberties. "Nobody is challenging the need for finance tracking to fight terrorism," says Reinhard Bütikofer, the leader of the German Parliament members from the Green Party. "But we challenge the idea this can only be done without privacy guarantees. We devalue democracy when we compromise on fundamental rights...

Author: /time Magazine | Title: Protecting Europe's Bank Data: U.S. Access Denied | 2/21/2010 | See Source »

...contracts are incredibly complicated, a thousand pages and more, and all in English," says Franz-Reinhard Habbel, spokesman for the Federation of German Cities and Municipalities. "Many cities were just out of their depth and unable to understand them...

Author: /time Magazine | Title: German Cities Suffer in the U.S. Financial Crisis | 4/9/2009 | See Source »

...Berlin: Reinhard Onnasch Collection Reinhard Onnasch has been displaying his art collection for almost two years and still hasn't sold a thing. But that's O.K. - he's not looking for buyers. Onnasch owns vast amounts of contemporary art and he's content with sharing his cultural wealth with the public. Running through 2009, the rotating exhibition at the art gallery El Sourdog Hex highlights 19 artists from the 1950s to the '90s. Works by German sculptor Markus Lüpertz go on display March 9-April 25, followed, on May 4, by a show on American neo-conceptual...

Author: /time Magazine | Title: Small Wonders: Quirky Art Collections | 2/25/2009 | See Source »

...confidence, not least because Germans hold a higher proportion of their savings in banks than citizens in many industrialized nations - and they still harbor a deep collective memory of the perils of economic uncertainty from the interwar years of the Weimar Republic. "We had to do it," says Reinhard Schmidt, a professor of international banking and finance at Goethe University in Frankfurt. "I have friends. I have neighbors. I have family. You wouldn't believe how many people have been calling me to ask about their deposits. The fears are extremely strong...

Author: /time Magazine | Title: Europe Struggles for a Response to the Bank Crisis | 10/7/2008 | See Source »

...board's decision came after the sentencing on Monday of Reinhard Siekaczek, a former midlevel manager in Siemens' telecommunications business, the first conviction in connection with the bribery scandal, which became public in late 2006 and may reach back to 2000. Siekaczek admitted to overseeing a system in which he diverted company funds into secret bank accounts that were used to pay bribes. The Munich court fined Siekaczek $170,000 and issued a two-year suspended prison sentence. The Munich prosecutor said he hoped Siekaczek's lenient sentence, offered in exchange for a full confession, would encourage many...

Author: /time Magazine | Title: Siemens Sues Its Own Managers | 7/30/2008 | See Source »

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