Word: rgens
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...that they have always hated the euro and are now using their hedge funds and media operations to bring it down. Some suggest that speculators are attacking the euro to block moves toward tougher European Union regulation of the market. Others, like European Central Bank chief economist Jürgen Stark, suggest people are perpetrating a ruse to hide the U.K.'s budget deficit. "It's astonishing to see where most of the criticism of the euro is coming from," Stark says. "Much of what they are printing reads as if they were trying to deflect attention away from problems...
...least one thing is clear: the German government wants GM to pay back the $2.2 billion bridge loan that Berlin gave it a few months ago to keep Opel's business afloat. Jürgen Reinholz, the Economy Minister of the eastern state of Thuringia, says GM will likely do this by the end of November. But a huge question for Merkel is whether GM will now receive any of the $6.7 billion in loans the government had previously promised to Magna to seal the deal. The pledge had raised alarm bells in Britain, Belgium and Spain, where leaders feared...
...whose recklessness in the name of short-term profiteering is at the root of the trouble. For all the recent signs of improvement, the financial situation is still far from normal. Some huge financial institutions, from AIG to Royal Bank of Scotland, remain on government life support. Jürgen Stark, a board member of the European Central Bank (ECB), recently estimated that financial institutions operating in Europe alone are facing total losses of around $650 billion between 2007 and 2010 - and have so far written down less than half of that amount in their books. "There is no room...
...While Porsche may be a niche sports car maker, it's better known stateside than VW's other premium brand Audi and could add to VW's sex appeal with brand-conscious U.S. consumers. "VW's image in the U.S. could benefit significantly from Porsche," says Jürgen Meyer, a fund manager with SEB Asset Management in Frankfurt. "Americans don't know Audi, but they know Porsche as a premium brand and that will rub off on VW. They could possibly use the Porsche brand name to create a group of premium models like we see today with Audi...
...railway agency launched an investigation and issued several urgent safety recommendations. "According to new safety regulations imposed after the accident on May 1, we have to double-check and replace the wheels of our entire S-Bahn fleet more often than we used to in the past," Jürgen Kornmann, spokesman for Deutsche Bahn, tells TIME. (Read "European Train Travel: Working on the Railroad...