THE European financial powerhouse could be facing a huge financial crisis which would have devastating implications for Britain as a lethal storm of economic problems brews in Germany.
Germany’s industrial production has slipped to ZERO per cent and customer confidence has plummeted in just part of a catalogue of disasters for Chancellor Angela Merkel.
A fall in Germany’s prosperity could drag the eurozone down with it – a scenario becoming more likely amid growing signs of the country’s slowdown.
The country has the biggest economy in Europe and is where a large portion of the bloc’s wealth is created.
Germany’s money has helped the eurozone struggle ahead, despite the ailing finances of Italy, Spain and Greece.
If the German economy crumbles it could start a domino effect that would pull down other countries’ economies with it.
The biggest shock facing Germany is the slowing global economy, which spells disaster for its export-driven growth.
China is one of Germany’s biggest markets, and its falling demand is expected to hit home hard.
France is one of Germany’s closest trading partners and its economy is struggling, further dampening demand for German exports.
Full article: Europe on the brink of financial MELTDOWN as Germany faces economic ruin (Express)