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Gersemann, Olaf

Die Welt

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2 articles of this author have been cited in the European Press Review so far.

Welt am Sonntag - Germany | 15/01/2012

Europe always looks for scapegoat

The downgrading of the credit rating of nine Eurozone countries is above all the result of the dishonest politics of the Europeans since the outbreak of the financial crisis, writes the conservative Sunday paper Welt am Sonntag: "Practically all European politicians have allowed themselves to be guided by two leitmotifs in the past three and a half years. Firstly, as few impositions as possible are to be placed on the voters, and any inevitable impositions are kept secret as long as possible. Secondly the blame for all the problems is laid on third parties - either the banks, the speculators, the rating agencies, the Americans or a combination of theses. Or simply the markets, those amorphous 'monsters' (quote: Horst Köhler) [former German president]. ... It would almost be a good thing if the oft called-for European rating agency were now established. It would either give the same kind of ratings as the three US market leaders or enslave itself to the dictates of the politicians. ... In both cases those in charge in Berlin and Paris, Madrid and Roma would have one excuse less."

Die Welt - Germany | 18/08/2009

Scrapping premium has served its purpose

The German fund out of which the state scrapping premium is funded is expected to be empty even before the parliamentary elections are held in September. Of the original two million premiums only 181,000 are still available. The daily Die Welt comments: "It [the premium] is a curse because it only serves to postpone what will ultimately be an unavoidable downsizing of overcapacities in the car industry. And it is a curse because although euphemistically termed an 'environmental premium' it only harms the climate. By artificially stimulating the production of new cars, more carbon dioxide is emitted than is saved through rejuvenating the cars on German roads. ... Right from the start there was only one reason for the scrapping premium: the hope that it could help compensate for the deep slump in exports and investments during the crisis. ... The scrapping premium has done its job and is no longer needed. It is to be hoped that the grand coalition will be able to recognise this."

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