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The online generation thinks: If the news is that important, it will find me. My son who has never subscribed to a print newspaper, gets his news from Facebook, Twitter or from friends. He no longer treats traditional media as a magnet. People now get their messages by relying on other people they trust.

SPIEGEL ONLINE: So what role, in your opinion, can newspapers still play?

arvis: They certainly no longer want to be in the paper business because that is dying out. The information business might be fine but there is no scarcity of information and news online. They could, however, be very effective in the collection business -- just find the best of the stuff that is out there online. They could also use their strong brands to compete in the business of elegant organization by creating information platforms or venturing into new markets. The New York Times has just started a new local program in New York enlisting my journalism students to collaborate online with them to report on their communities. That is the right approach. News outlets need to think distributed, they must collaborate with bloggers or social networking sites. On my blog, I have links to Google News or Google Maps. Innovative newspapers like the Guardian in Britain are equally open to cooperation. They make all their content available free online, they link to all sorts of sites, and in turn they receive more links in return.

SPIEGEL: The economic crisis has severely damaged the economic model of finance-driven turbo-capitalism. Will this lead to a renaissance in the state economy? Stiglitz: I don't think so. The fall of the Berlin Wall really was a strong message that communism does not work as an economic system. The collapse of Lehman Brothers on September 15th again showed that unbridled capitalism doesn't work either.

SPIEGEL: Could authoritarian systems like in China be the future? Stiglitz: Besides the two extremes of communism and capitalism, there are alternatives, such as Scandinavia or Germany. The Chinese model has succeeded very well for their people, but at the price of democratic rights. The German social model, however, has worked very well. It could also be a model for the US administration.

SPIEGEL: The opposition in Germany is already complaining about government stimulus funding for infrastructure in developing countries. Stiglitz: All the more reason for governments to persuade their people that it is in our own interest that all national economies grow. If banks in Eastern Europe collapse, it weakens Western European banks and then American financial institutions. If we are to learn one thing from the economic crisis, it's this: Globalization can't be stopped. It has to be managed or else the global economy won't work.

The Obama administration plans to create a new military command to coordinate the defense of Pentagon computer networks and improve U.S. offensive capabilities in cyberwarfare, according to current and former officials familiar with the plans.

The initiative will reshape the military's efforts to protect its networks from attacks by hackers, especially those from countries such as China and Russia. The new command will be unveiled within the next few weeks, Pentagon officials said.

The move comes amid growing evidence that sophisticated cyberspies are attacking the U.S. electric grid and key defense programs. A page-one story in The Wall Street Journal on Tuesday reported that hackers breached the Pentagon's biggest weapons program, the $300 billion Joint Strike Fighter, and stole data.

Monday's Twitter-organized student protest brought some 10,000 people to Chisinau's main square, who accused the government of rigging Sunday's vote. The protest turned violent on Tuesday, with some demonstrators throwing rocks and storming the Moldovan parliament.

Moldova's current president, Vladimir Voronin, has belittled the protests and accused neighboring Romania of organizing a coup. He even expelled Romania's ambassador on Wednesday. "When the flag of Romania was raised on state buildings, the attempts of the opposition to carry out a coup became clear," he said. "We will not allow this."

Russian Foreign Minister Sergei Lavrov lined up behind Voronin on Thursday and described the protesters who ransacked the parliament as "pogrom-makers" bent on destroying the country.

Details of user e-mails and net phone calls will be stored by internet service providers (ISPs) from Monday under an EU directive.

The plans were drawn up in the wake of the London bombings in 2005.

All ISPs in the European Union will have to store the records for a year. An EU directive which requires telecoms firms to hold on to telephone records for 12 months is already in force.

Mirek Topolanek, from the far east of the Czech Republic, likes to say that he's a "guy with balls" -- and he acts accordingly. He once shouted "I'll kill you" at a journalist and he's raised his middle finger at political opponents. He has referred to the EU's Lisbon Treaty as "a pile of crap."

But since becoming prime minister two years ago, the tough guy seemed to have gotten himself under control. He deftly hammered out a coalition and steered his Civic Democratic Party (ODS) -- middle class and traditionally critical of the EU -- on a Brussels-friendly course. And since January, Topolanek has even proved to be a passable statesman as his country holds the European Union's rotating presidency.

Then last week, he relapsed. Topolanek declared in front of the European Parliament that United States President Barack Obama's multi-billion-dollar stimulus package was "a road to hell" -- and this just as Prague is set to host Obama at the US-EU summit later this week.