Word: klause
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...Obamas' private dinner may, in fact, be a way of avoiding political awkwardness in the Czech capital: They will not be joining President Vaclav Klaus (a skeptic on global warming) at a state dinner; nor will they be sharing delicious Czech lager at an informal pub visit with Topolanek, whose government collapsed a day before his comment about Obama's stimulus inferno. Czech sources insist that the Americans had turned down those two invitations before the Prime Minister's remark. (See pictures of the Obamas in Europe...
...nation Organization for Economic Cooperation and Development in Paris, chief economist Klaus Schmidt-Hebbel argues forcefully that governments should do more to retrain workers and overhaul their labor-market policies to ensure that once recovery comes, new jobs are created in sufficient numbers to swiftly bring the jobless rate back down again. But ask him about the German short-work measures, and he's skeptical. "They can't stop rising unemployment," he says, "they just delay it." Indeed, in its latest economic forecast released March 31, the OECD expects unemployment in Germany to rise from its current...
...billion in cash reserves. So, it's not hard to figure out what would happen to the real economy if the banks are left on their own to work through loan failure of this magnitude. "Germany has not succeeded yet in getting control of the financial crisis," says Klaus Zimmermann, president of the Berlin-based DIW economic research institute. "We must quickly extract the toxic assets from the system so that the banks can finally reassume their service role for the real economy...
...would park its toxic assets in an account with the government. This way the assets would be off the banks' books but each security would still be associated with its original owner rather than pooled together. "The mobilization fund is not about burdening the taxpayer with all the risks," Klaus-Peter Müller, head of the banking federation, told reporters...
Until now, Topolanek could say that Klaus held a mainly figurative position, with few formal powers to disrupt the Czech presidency. But under the Czech constitution, the president has the power to nominate a new prime minister, making him the country's kingmaker - a prospect that does little to raise spirits in Brussels...