The name Benedict evokes the Prophecy of Malachy, the 11th century document regarding future Popes. The name may be a self-conscious nod by Ratziner to the prophecy, self-fulfillment perhaps, to keep its mythos alive.
Benedict XV is remembered chiefly for his futile effort to prevent WWI. Ratzinger may be signalling his intention to try to prevent WWIII.
And I found this quite interesting, and possibly uncanny. Before the name was chosen, it was predicted in November of last year and posted on numerous sites. For instance:
b. Some say that this prediction of St. Malachy, “From the Glory of the Olive,” refers to the Order of St. Benedict, because they have a well-known group within their order called the 'Olivetans.' There is some merit to this idea. But it does not mean that this Pope will come from the Order of St. Benedict, but rather that he will take the name of Saint Benedict and will live in imitation of him.
c. The next Pope after John Paul II will take the name Pope Benedict XVI, in imitation of Saint Benedict and also of Pope Benedict XV. Just as Pope Benedict XV was an emissary of peace, so will Pope Benedict XVI be an emissary of peace. Just as Pope Benedict XV sought peace and spoke of peace and wrote papal documents seeking peace, so will Pope Benedict XVI do also. Just as Pope Benedict XV failed to achieve peace in the world, so will Pope Benedict XVI fail to achieve peace in the world. Just as the Pontificate of Benedict XV began prior to World War I, so will the Pontificate of Benedict XVI occur prior to World War III. After the Pontificate of Benedict XVI, World War III will begin. The Arab nations will threaten and attack the United States; they will threaten, attack, invade and conquer Europe; they will threaten, attack, invade and conquer the northern part of Africa. It is God's will.
d. Pope Benedict XVI will be like Saint Benedict, who lived in the fifth and sixth centuries. He will be a man dedicated to peace and holiness. There is another Saint Benedict, a well-known Saint called Saint Benedict the Black (il moro santo, the holy Moor). Pope Benedict XVI will also be like Saint Benedict the Black. Pope Benedict XVI will be a black man, like Saint Benedict the Moor. He will be a holy Pope, who reinforces the teaching of the Church in opposition to the errors of modern culture. (Note added April 19, 2005: I was mistaken when I thought that the next pope after John Paul II would be black. I am fallible. My predictions are also fallible. By the way, the prediction that the next pope after John Paul II would be black is not a figure of speech, nor a metaphor. I was simply wrong.) http://www.catholicplanet.com/articles/article41.htm