| SPIEGEL ONLINE | INTERNATIONAL NEWSLETTER |
| Compiled on May 21, 2012, 06:30 PM CET |
| EU SUMMIT ON WEDNESDAY Hollande To Confront Merkel on Euro Bonds French President François Hollande will put German Chancellor Angela Merkel under pressure at Wednesday's EU summit to agree to euro bonds, which she has so far strictly opposed. Italy and Britain are expected to back Hollande in a further sign that Merkel is increasingly isolated in Europe with her austerity plan for saving the euro. |
| AN ULTIMATUM FOR GREECE Europe Raises Threat Level against Athens Officially, euro zone governments say they're not talking about a Greek exit from the euro zone. But it's a different story behind closed doors. Finance ministers meeting in Brussels last Monday threatened to evict Greece, SPIEGEL has learned. Meanwhile, Germany denied reports that Chancellor Angela Merkel called for Greece to hold a referendum on the euro. |
| NICK CLEGG ON THE EU 'We Are Condemned to Work with Each Other' In a SPIEGEL interview, British Deputy Prime Minister Nick Clegg argues that the European Union has to stand together to fight the crisis. The euro zone needs a clear vision for its future, he argues, otherwise Europe will see a new wave of nationalism and xenophobia. |
| THE WORLD FROM BERLIN 'Hollande Is Provoking Merkel to the Utmost' French President François Hollande has reignited the debate over euro bonds ahead of this week's informal EU summit. Germany has repeated its opposition to jointly issued debt. German commentators are divided over the merits of euro bonds, but agree that Chancellor Merkel will have to make concessions. |
| DOUBTS IN BRUSSELS AND BERLIN Schäuble's Plan to Head Euro Group In Question German Finance Minister Wolfgang Schäuble wants to become the head of the Euro Group, but this prospect is being met with ample skepticism. In Berlin he is seen as too European, while in Brussels he is considered too German. Critics say taking on the second job would cause a conflict of interest. |
| 'SICK CONDITIONS' Why Greeks Will Vote for Tsipras Greeks have spurned the politicians who represent the country's broken system, and many are now following rising star Alexis Tsipras. The radical left-wing politician has pledged to free Greece from painful austerity measures while keeping the euro, but no one knows how he plans to fulfill his promises. |
| MOUNTING RISKS ECB Increasingly Concerned Over Aid to Greek Banks The European Central Bank is keeping Greek banks afloat with emergency assistance even though urgently needed banking reforms have been put on hold in the election campaigns. As Greeks withdraw money from the banks amid fears of a euro exit, the ECB's own risk exposure is mounting. |
| POLITICAL CHAOS DETERS TOURISTS Greece Holiday Bookings Plunge Due to Turmoil Greece's tourism industry, crucial to its ailing economy has been hit hard by the political turmoil following the May 6 election and growing speculation of a Greek euro exit, say tourism experts. One industry leader said bookings were down 50 percent since the vote. |
| DEFENSE AND DEBT NATO Leaders Focus on Funding in Chicago NATO leaders gathered in Chicago are faced with an ever-worsening conundrum: How can they cut military expenditures while at the same time boosting the alliance's military capabilities? The answer is called "Smart Defense," and critics worry it could result in the weakening of the alliance. |
| CHECKBOOK JOURNALISM Media Outraged by Fees for Celebrity Interviews at Cannes For the first time in the history of the Cannes Film Festival, a distribution firm has asked for a fee from journalists who want to interview Hollywood celebrities. Many journalists are eschewing the offer of a 20-minute interview with Brad Pitt for 2,500 euros, arguing it would set a dangerous precedent. |
| WILD EUROPE Berlin Photo Show Highlights Continent's Natural Gems Spectacular wildlife photography often depicts African lions or penguins waddling across Antartic snow. But an exhibition on tour in Europe is shining a spotlight on natural wonders closer to home. Starting on Tuesday, visitors arriving at Berlin's central train station will be greeted by pictures showcasing Europe's gems. |
| PICTURE THIS War Paint |
