Michael Ivanovitch is president of MSI Global, a New York-based economic research company. He also served as a senior economist at the OECD in Paris, international economist at the Federal Reserve Bank of New York and taught economics at Columbia Business School.
With six important ministerial posts in the new government, the SPD apparently wants to forge a closer union of Germany's three center-left parties.
Asian stock prices marked a broad-based increase last week on news that Janet Yellen pledged to maintain the current monetary stimulus.
The reopening of the U.S. government is just an emergency measure and people should realize that this is not the usual Washington skirmish.