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The German Academic Exchange Service (DAAD) is an organization run jointly by the German institutes of higher education. Its purpose is to promote relations between higher education institutes in Germany and abroad, especially through exchange schemes between students and academics. As a rule its programs cover all disciplines and countries and are open to German and foreign students in equal measure. The DAAD supports a worldwide network of offices, lecturers and alumni associations and provides information and advice on a local basis.
→ daad.de
The euro is the currency of the European Monetary Union and after the US dollar the second most important member of the international currency system. Together with the national central banks, the European Central Bank (ECB), headquartered in Frankfurt/Main, is responsible for monetary policy with regard to the euro. The euro is the official currency in 20 of the 27 EU member states. The euro was physically introduced in “Euroland”, including Germany, on January 1, 2002, having served as a currency of deposit since the beginning of 1999.
The Federal Government and cabinet is made up of the Federal Chancellor and the Federal Ministers. While the Chancellor holds the power to issue directives, the ministers have departmental powers, meaning that they independently run their respective ministries in the framework of those directives. Moreover, the cabinet abides by the collegial principle, in disputes the Federal Government decides by majority. The affairs of state are managed by the Chancellor.
The Alexander von Humboldt Foundation was founded in 1860 and today promotes academic collaboration between excellent foreign and German researchers. Every year it enables 2,000 international researchers to spend time working in Germany and maintains a worldwide network of some 30,000 Humboldtians from all disciplines in over 140 countries – including 61 Nobel Prize winners.