Germany temporarily to allow forced bank nationalization

BERLIN: The German government is set to adopt a law allowing it to temporarily seize shares from troubled banks to prevent them from collapsing, according to a draft nationalization text to be agreed Wednesday.

Germany names envoy for Afghanistan, Pakistan

BERLIN: Germany on Monday followed the lead of the US and Britain in announcing the appointment of a special envoy for Pakistan and Afghanistan.

The appointment of Bernd Muetzelburg, currently Germany’s ambassador to India, to the role will “further intensify Germany’s diplomatic engagement in Afghanistan and Pakistan,” the foreign ministry in Berlin said.

Germany is currently raising troop levels in Afghanistan to around 4,500 under the NATO-led International Security Assistance Force (ISAF). Most of Germany’s soldiers are based in the relatively peaceful north.

Last Monday Britain appointed Sir Sherard Cowper-Coles as its envoy to Pakistan and Afghanistan.

Film world has capitalism and crisis in its sights

BERLIN: Communism and terrorism have long vied for the title of cinema’s favourite bad guy, but now it seems capitalism looks set to challenge them, with globalisation as its evil sidekick.

At least 11 dramas and documentaries at this year’s Berlin film festival cast a mostly critical eye on the world of banking, big business, shocking gap between rich and poor and the harsh reality of economic migration. By questioning the West’s long-held belief that free markets are the way forward and globalisation is a force for good, the films resonated with increasingly skeptical audiences aware of the gathering economic storm in the real world.