A letter from... Camille Thommes. The Director General of the Association of the Luxembourg Fund Industry (ALFI) warns against blanket judgments. The European Commission recently published a paper arguing that private investors are best served by passive investment funds. These are more cost-effective, more broadly diversified and offer higher long-term performance than active funds.

Jochen Felsenheimer is Managing Director of XAIA Investment and reflects on the long-term consequences of the policy change in Greece. Everywhere on the markets there is wild speculation about the effects the shift to the left in Greece might have on the European financial markets. And it's not that hard to judge. After all, the economic facts have been known for several years.

A letter from ... Wolfgang Bosbach. The controversial member of the Bundestag reflects on politics, Europe and the social performance of our country. After the election, I leave the Bundestag and am therefore often asked what the three points are that most concern me at this crossroads of my life;

A letter from... Christian Jasperneite; The chief strategist von M.M. Warburg & Co. warns that dubious budgetary policies in Europe are taking the Central Bank hostage.

A letter from ... Rudolf X. Ruter. The sustainability and corporate governance expert is convinced that credibility and reputation are the currency of our future. Despite the misconduct at Volkswagen, Deutsche Bank and DFB/Fifa (to name just three concrete names), which is currently much discussed in Germany, I am convinced that respectability is still widespread in the German economy. More and more and especially younger managers are committing themselves to a clear sense and value orientation and saying goodbye to arrogance, avarice, indulgence, anger, gluttony, envy and inertia to change.