The U.S. has all but averted insolvency, the German school system has major problems and the women's soccer Bundesliga is getting a new name.

Every few years, the world's largest economy struggles to put its financial situation on a reasonably solid foundation and avert bankruptcy. "I don't know how many more wake-up calls politicians need to draw conclusions," says education economist Ludger Woessmann. Germany has 16 ministers of education and one federal minister of education – and sometimes you can't help but wonder what they actually do professionally.