SHARE
COPY LINK
MY DEAR KRAUTS

ECONOMY

Tom Cruise’s honourable mention

Roger Boyes, Berlin correspondent for British daily The Times, explains why Scientologist actors and German politicians could learn something from a suicidal billionaire.

Tom Cruise’s honourable mention
Photo: DPA

The lights were on late in Berlin’s Otto-Suhr-Allee last week. It is always an exciting moment for Scientologists when Tom Cruise is in town. But the true believers must have been rubbing their hands in glee this time though. The Hollywood heavyweight was in the German capital for the premiere of his film “Valkyrie,” in which he portrays failed Hitler assassin Claus Schenk Graf von Stauffenberg.

A top Scientology fund-raiser starring as a modern German hero! School classes will no doubt file into the cinemas, pre-teenage girls will fall in love with him – a coup for the quietly subversive propaganda machine of this strange sect that feels so persecuted in Germany.

As it happens, I have never had anything against tiny Tom playing Stauffenberg. As far as I’m concerned he could play the Pope – though he would have to improve his German accent. Cruise is an actor and not a bad one, providing he sticks to his strengths: the action hero.

The Scientology thing doesn’t really bother me either. They keep out of my way when I pass them on the Ku’damm, perhaps recognising that my stress-levels are so astronomically high they cannot be cured by their voodoo “Dianetics” therapy. And the film is not bad. The problem is not that Cruise is a brain-washed Martian playing a Swabian aristocrat. The problem isn’t even that we know the ending (note to younger readers: Adolf Hitler lived another nine months after Stauffenberg’s failed attack). No, the problem is that he has made Stauffenberg into an American hero, the kind that keeps cinema audiences gripping the edges of their seats as he tries to save the world.

But Stauffenberg was a German, not Hollywood, hero and his motivation was an old-fashioned one: to save the honour of a military caste which had been discredited by its subservience to Hitler and some of its dubious activities on the Ostfront. The Stauffenberg story is about honour. Little wonder that Cruise doesn’t quite get this right – honour in Hollywood is something that is left to lawyers. But younger German audiences also seem baffled by the concept.

For the same reason, there was general confusion across the country when troubled German billionaire Adolf Merckle recently killed himself. I was stuck in a railway carriage next to a couple in their thirties when they started to discuss the Merckle case.

“He would still have had hundreds of millions, that’s no reason to commit suicide,” said the woman passenger, slapping the cover story of Der Spiegel magazine, which had called the end of the businessman “an archaic death.”

“Yeah,” said her male companion. “He could have enjoyed his life. Bought a yacht.”

I resisted the temptation to slap the man. Plainly, Merckle could not bear the thought that he had let down his grandfather and father who had established a successful pharmaceuticals firm. The breaking point was not the loss of billions of euros, the disappointment of his children or even the loss of his employees’ jobs. It was the forced sale of Ratiopharm which spelled the end of a family tradition. He had wanted to earn the approval of his dead father but had failed himself, through personal weakness and bad decision-making.

So he threw himself in front of a train – as a matter of honour.

Not many of us, I suppose, want to see Germany embracing a Japanese hara-kiri culture. But would a bit of the ol’ seppuku be so bad if we recovered the idea of honour? Not just dying for an ideal, but also sacrificing one’s personal goals? Was there any sense of honour in the way that the Social Democratic Party’s Andrea Ypsilanti behaved in trying to become the premier of Hesse? Many of us felt a chill run down our spines as she delivered her final statement earlier this month essentially shirking blame for a year of political chaos in the state.

Politicians used to bear responsibility not only for their own actions, but also for those in their department. Now we have a financial crisis that has been encouraged by the slipshod control exercised by the political class. The consequence is that millions of people across Germany and Europe will lose their jobs. Yet not a single politician, not a single central banker, not a single member of the financial regulating agencies, has offered his or her resignation. Politicians do step down – but only after the media have made them an embarrassment for their parties. There is no internal code.

Honour is an unspoken contract, a duty conferred on you, usually because you occupy a position of privilege or responsibility. There is a period of political instability approaching. So far protests have touched only Bulgaria, Greece, Latvia, Iceland: societies on the margin of the crisis. But they share an anger about the political class, its failure to anticipate an economic disaster.

Politicians and bankers have to start answering questions and accepting blame otherwise the loss of trust in financiers will become a more general contempt for Europe’s leaders. Before that happens, all politicians have to start doing the honourable thing.

For more Roger Boyes, check out his website here.

For members

ECONOMY

How is Denmark’s economy handling inflation and rate rises?

Denmark's economy is now expected to avoid a recession in the coming years, with fewer people losing their jobs than expected, despite high levels of inflation and rising interest rates, The Danish Economic Council has said in a new report.

How is Denmark's economy handling inflation and rate rises?

The council, led by four university economics professors commonly referred to as “the wise men” or vismænd in Denmark, gave a much rosier picture of Denmark’s economy in its spring report, published on Tuesday, than it did in its autumn report last year. 

“We, like many others, are surprised by how employment continues to rise despite inflation and higher interest rates,” the chair or ‘chief wise man’,  Carl-Johan Dalgaard, said in a press release.

“A significant drop in energy prices and a very positive development in exports mean that things have gone better than feared, and as it looks now, the slowdown will therefore be more subdued than we estimated in the autumn.”

In the English summary of its report, the council noted that in the autumn, market expectations were that energy prices would remain at a high level, with “a real concern for energy supply shortages in the winter of 2022/23”.

That the slowdown has been more subdued, it continued was largely due to a significant drop in energy prices compared to the levels seen in late summer 2022, and compared to the market expectations for 2023.  

The council now expects Denmark’s GDP growth to slow to 1 percent in 2023 rather than for the economy to shrink by 0.2 percent, as it predicted in the autumn. 

In 2024, it expects the growth rate to remain the same as in 2003, with another year of 1 percent GDP growth. In its autumn report it expected weaker growth of 0.6 percent in 2024.

What is the outlook for employment? 

In the autumn, the expert group estimated that employment in Denmark would decrease by 100,000 people towards the end of the 2023, with employment in 2024  about 1 percent below the estimated structural level. 

Now, instead, it expects employment will fall by just 50,000 people by 2025.

What does the expert group’s outlook mean for interest rates and government spending? 

Denmark’s finance minister Nikolai Wammen came in for some gentle criticism, with the experts judging that “the 2023 Finance Act, which was adopted in May, should have been tighter”.  The current government’s fiscal policy, it concludes “has not contributed to countering domestic inflationary pressures”. 

The experts expect inflation to stay above 2 percent in 2023 and 2024 and not to fall below 2 percent until 2025. 

If the government decides to follow the council’s advice, the budget in 2024 will have to be at least as tight, if not tighter than that of 2023. 

“Fiscal policy in 2024 should not contribute to increasing demand pressure, rather the opposite,” they write. 

The council also questioned the evidence justifying abolishing the Great Prayer Day holiday, which Denmark’s government has claimed will permanently increase the labour supply by 8,500 full time workers. 

“The council assumes that the abolition of Great Prayer Day will have a short-term positive effect on the labour supply, while there is no evidence of a long-term effect.” 

SHOW COMMENTS