What's in the news?

Since TV is not yet a functioning part of the Young household (I’ll save that story for another day), access to news fixes of CNN and BBC are not our main news sources these days. Thankfully, The International Herald Tribune (a subsidiary of The New York Times) publishes in English in most countries…we subscribed while in Korea and Taiwan. The news reports are picked up from major newspapers, not just The Times, and news services agencies around the globe, including many from the US, Europe, and Asia.

So, you ask, what has been in the news in Germany?

Well, today’s top headline was actually two stories: The first one entitled “Long-secret salaries at risk in Germany” describes how German law will now require public companies in Germany to disclose the salaries and bonuses of their most senior executives. Supposedly, this is to improve corporate governance in Germany, but the law must still be ratified by the German parliament. Apparently, most countries in Europe already have these laws, as of course, does the US…I was pleasantly surprised to read that most large corporations, government, and shareholder rights advocates are supportive of the measure.

The other lead story, “Iran wants significant incentives for a deal”, deals with Iran and the EU’s negotiation, some say impasse, over restraining Tehran’s nuclear development. EU officials say Iran’s latest offer is a joke…this is quite a big deal in Europe right now…

Over the past few weeks, other news-worthy stories have included:
· Foreign investors seen as “locusts” – Many in Germany see foreign investors who buy distressed German companies, assets, or loans (sound like the work of anyone we know????) as “locusts” and a plague on Germany. Always good to know you are likened to a plague….

· Will the EU constitution be ratified among its member states? You may ask, why is this important? Well, there are varying opinions depending on who you ask and what country they are from. And not everybody in each country agrees. Proponents from such countries as Belgium and the UK, say that a ratified EU constitution means a stronger Europe, with stronger bargaining power, and the creation of an EU job machine. Opponents, from countries such as France and Germany, say that this constitution will only weaken sluggish economies and cause the loss of more jobs to countries with cheaper labor supplies. It is quite the debate….how much coverage is this one getting in Texas?

· Tony Blair’s historic 3rd term election as Prime Minister, and how people are already saying he will not serve a complete 5 year term.

· More Germans do not want to have children - report provides fresh evidence of a trend that is endangering the country's social service system. Apparently, Germans in the age bracket of 30 - 39 are either having 1 child or more commonly, none at all. The primary reasons for the trend include: people focusing more on their careers, a wish for independence and comfort (it is very expensive to live in Germany), fear of job security, and a lack of trust regarding reliability of state benefits. As a result, the government says that state benefits (not just the equalivalent of our Social Security) can't be funded without people having more children. Some politicians have even said that it is the people's duty to procreate; others believe that potential parents will have more children when they are convinced that the future of their potential children will be better rather than worse. Actually, this trend is seen in most industrialized nations right now, not just Germany.

· High unemployment in Germany – government figures say that unemployment is around 10-13% but that does not include people are government work programs. If those were included, the number would be closer to 20%. That is 1 out of 5 people.

· Elections in Germany (that is in my state of North Westphalia) – State and local elections occur on May 29. The main platform issues, as best we can tell, deal with job creation (see previous bullet), and quality of life issues. To me, is seem like politics as usual...good to know that some things are universal and politics is one of them.

Well, that is just a sample…Generally speaking, I can say that news coverage is much more global in nature, not just European. That is the one thing that I think I often lacked an understanding of as a US citizen living in the US. It is also quite interesting to see how the world looks at you and your country when you are living in theirs…I have developed a much different opinion of the world, and my country’s role in it having lived outside my home country. It has been eye-opening to say the least….

Let me know the top headline in your newspaper today….