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.
STRIKING workers in Germany have triggered a cash crisis and a looming threat to the European powerhouse economy.
On Monday, train drivers began a seven-day long walkout that has left transport and supply chains in the country in chaos. Continue reading
German power is now mostly seen in economic terms. Given its 20th century past, the dream of simply being a bigger Switzerland still holds a strong appeal to the German public: a country without any serious external security concerns, focused on prosperity and wellbeing.And yet recently Angela Merkel has put her country on a new course. She is redefining German power. This is not happening via grand speeches, but through concrete steps and sometimes discreet messages. And it is happening as a result of circumstances, not because of a comprehensively pre-prepared plan. Last year, in quick succession, war broke out in Ukraine, populist and extremist parties made strong gains in European elections, and the Greek conundrum returned to the eurozone. Because of all these crises, Merkel has been reappraising what her country should be doing as Europe’s powerhouse. Continue reading