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Kindermann, Klemens


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


Deutschlandfunk - Germany | 28/06/2015

ECB losing all credibility

By extending the emergency loans for Greece even though the Eurogroup's bailout programme expires on Tuesday, the ECB has said goodbye to its role as protector of monetary stability, the public broadcaster Deutschlandfunk writes: "It has shown what has become its true face: that of a political institution. ... After the euro finance ministers said no to the multi-billion euro bailout programme, these loans lack any legitimacy. Because a state bankruptcy and the collapse of the Greek banks must now be expected. In sweeping aside such reservations, the ECB not only risks complaints of unconstitutionality for overstepping its mandate, it also casts doubts on its own credibility. ... Ultimately the Greek government could see the ECB's open monetary floodgates as a good reason to go on gambling. In that case the ECB will have done a disservice both to any prospect of rescuing Greece and to the stabilisation of the euro system."

Deutschlandfunk - Germany | 04/05/2015

German train drivers are stubborn egoists

The German Train Drivers' Union (GDL) began a seven-day strike on Monday. It aims to represent all railway personnel. With this latest strike the GDL has put itself on the sidelines, the public service broadcaster Deutschlandfunk writes: "The basic understanding that the egoism of the individual is to be curtailed in the interests of the entirety is lacking among the train drivers, and the longer the pay dispute continues, the more apparent this is. How far removed this stubborn pursuit of individual unionist interests is from the long practised consensus-based social partnership with which the Federal Republic of the social market economy grew up. The refusal to admit a mediator highlights this most clearly. The train drivers simply refuse to make use of this instrument in their negotiations with Deutsche Bahn. This is not only incomprehensible, but also unwise."

Deutschlandfunk - Germany | 19/01/2015

Trimmed down bond buying is a double error

The European Central Bank is expected to announce its multi-billion sovereign bond-buying programme on Thursday. In view of criticism from Germany and others, ECB chief Mario Draghi has said that the national central banks will be restricted to buying only the bonds of their own countries. The public broadcaster Deutschlandfunk takes a dim view of this trimmed-down version: "Firstly it won't meet the expectations of the financial markets, which could lead to more speculation against weak euro countries and prompt a new euro crisis. Secondly the Rubicon of government bond-buying will be crossed anyway. ... If the left-winger Alexis Tsipras wins Sunday's election in Greece this will intensify the worries of many citizens, particularly in Germany: the fear of an insecure euro with a Greece that leaves the monetary union and an ECB that has used up its last ammunition - and half-heartedly at that."

Deutschlandfunk - Germany | 26/03/2013

Jeroen Dijsselbloem cuts a poor figure

The new head of the Euro Group Jeroen Dijsselbloem has made a complete fool of himself with the Cyprus bailout, the news website of the German broadcaster Deutschlandfunk contends: "Dijsselbloem negligently allowed savers with small deposits in Cyprus - and other Eurozone states - to be completely unnerved. He did not prevent Nicosia from peddling an absurd bailout proposal with which, like Baron Münchhausen, it wanted to pull itself out of the swamp with money from churches and other sources. And finally - once Cyprus's fears had at last been calmed - he shocked the markets with statements giving the impression that he now wants to go after banks and investors in other euro countries. Rarely has a Eurozone decision maker made such a fool of himself in so short a time."

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