Germany: Weapons Industry: Berlin mulls Saudi, Australian weapons deals

Germany's national security council, a government body headed by Chancellor Angela Merkel and made up of ministers from seven ministries, has decided to halt arms exports to Saudi Arabia due to "instability in the region," the mass-market Bild am Sonntag reported Sunday, adding that the information has not been officially confirmed.

According to the newspaper, orders of weapons from Saudi Arabia have either been "rejected, pure and simple" or deferred until further notice.

The kingdom is "one of the most important clients of Germany's arms industry," the newspaper said, noting that it paid German weapons manufacturers 360 million euros ($400 million) in 2013. But the government has decided "the situation in the region is too unstable to ship there."

Read more: Berlin mulls Saudi, Australian weapons deals: reports | News | DW.DE | 25.01.2015

Germany: Anti-Americanism hits Germany′s streets and could spill[-over around EU

Over 1,000 people gathered this Saturday in Erfurt, the capital of the eastern state of Thuringia, to protest against the "Americanization" of Europe, amid a groundswell of xenophobia in eastern Germany and ongoing social movements in cities around the country directed against what's been called an "Islamization of the occident."

The Erfurt police told DW that the situation in front of the central train station on Saturday was "outright aggressive," as protesters held posters and chanted anti-American slogans abreast with some 600 counterdemonstrators who attempted to break police lines.

One of the main messages one could hear chanted by the mob was, "Ami! Go HOME," which translates roughly as, "Americans! Go HOME." A series of speakers attempted to deliver addresses to the crowd, but their speeches were drowned out by whistling from counter demonstrators.

Journalists on the ground in Erfurt confirmed to DW that the mood was characterized by an aggressive anti-Americanism, coupled with violence between demonstrators and counterdemonstrators. A brawl nearly broke out at one juncture as counterdemonstrators, mostly young members of the left-wing anti-fascist Antifa group, attempted to block the anti-American protesters.

Read more:Anti-Americanism hits Germany′s streets | Germany | DW.DE | 25.01.2015

Greece: Greek radical-left leader vows to end Wall Street imposed 'humiliation and pain'

Greek leftist leader Alexis Tsipras promised on Sunday that five years of austerity, “humiliation and pain” imposed by international creditors were over after his Syriza party swept to victory in a snap election on Sunday.

Read more: Europe - Greek radical-left leader vows to end 'humiliation and pain' - France 24

Global Economy: The Politics Of Economic Stupidity - by Joseph Stiglitz

In 2014, the world economy remained stuck in the same rut that it has been in since emerging from the 2008 global financial crisis. Despite seemingly strong government action in Europe and the United States, both economies suffered deep and prolonged downturns. 

The gap between where they are and where they most likely would have been had the crisis not erupted is huge. In Europe, it increased over the course of the year.

Developing countries fared better, but even there the news was grim. The most successful of these economies, having based their growth on exports, continued to expand in the wake of the financial crisis, even as their export markets struggled. But their performance, too, began to diminish significantly in 2014.

In 1992, Bill Clinton based his successful campaign for the US presidency on a simple slogan: “It’s the economy, stupid.” From today’s perspective, things then do not seem so bad; the typical American household’s income is now lower. But we can take inspiration from Clinton’s effort. 

The malaise afflicting today’s global economy might be best reflected in two simple slogans: “It’s the politics, stupid” and “Demand, demand, demand.”

Read more: The Politics Of Economic Stupidity

QE ECB: Germany wary of ECB quantitative easing, World Bank warns reforms needed as well

European stock markets were boosted by the European Central Bank’s bond-buying scheme with several share indexes hitting seven-year highs on Thursday.

Banks and car makers were among the best-performer companies as they are likely to benefit from cheap lending rates and a weaker euro.

But the head of the World Bank, Jim Yong Kim, told euronews that on top of the bond purchases, eurozone governments also need to do more to reform their economies.

Referring to the bond buying he said: “This is a tool and it should be used, because the potential to have a self-fulfilling and continuous deflationary cycle was very real. The other half of this is that there’s still not enough to really solve the problems. You know, the countries that are in the most trouble, have to move forward with their reform agenda.

What an opportunity! We have historically low oil prices and now we have a quantitative easing. This is now the time to really jump in.”

Germany was the least enthusiastic with economists, politicians and business leaders there warning this is taking the euro system deeper into unchartered territory.

Hans-Werner Sinn, the head of the influential Ifo economic think-tank, called it “illegal, unsolid state financing by printing money”.

Note EU-Digest: Mario Draghi the ECB Chairman who used to be a Goldman Sachs employee is going on a slippery slope with QE financing - Given Draghi's US related banking experience and link with the Goldman Sachs Financial corporatio - whose financial history is not one of sound and honest practices puts up a lot of red flags.

Read more: Germany wary of ECB quantitative easing, World Bank warns reforms needed as well | euronews, economy

USA: State of the Union speech by President Barack Obama

In presenting a series of initiatives aimed at the middle class, Mr. Obama hopes to pivot finally from the politics of adversity and austerity that have frustrated him for much of his tenure.

But coming off a midterm election defeat that handed full control of Congress to Republicans, the president faces long odds in actually enacting his agenda and in essence is trying to frame the debate for his remaining time in power and for the emerging 2016 contest to succeed him.

Read more: The White House

Netherlands: Agricultural exports top 80 billion Euros

Agricultural exports from the Netherlands topped 80 billion Euros last year (80.7 billion), up from 2013's record levels of 79 billion. Dutch Minister for Agriculture Sharon Dijksma made the customary announcement at the International Green Week in Berlin, the world's largest agricultural trade fair. The figures are based on LEI Wageningen UR estimates, and as in previous years, definitive figures are expected this spring.

Read more: Netherlands: Agricultural exports top 80 billion Euros