Germany needs to get a grip
What’s happening?
Germany’s economy stagnated in the second quarter, even as eurozone neighbours Spain, Italy and France all registered growth. Retail sales recorded their largest annual fall since 1994 in June, while gauges of business and consumer confidence are at their lowest levels in more than two years. Even Germany’s much-vaunted trade surplus has evaporated, with soaring prices for energy imports seeing it record a €1bn deficit on a seasonally adjusted basis in May. That is its first trade deficit since 1991.
What’s the problem?
Complacency. Germany is a wealthy country
