The Crisis that Germany Needs
There is a profound mismatch between Germany’s current economy and its institutional inheritance from the postwar period. If the current crisis prompts a wholesale rethink of that inheritance, the logjam blocking necessary reforms could finally be broken.
https://prosyn.org/2aFUvAg
FRANKFURT – Germany is the poster child for everything that is wrong with the European economy. GDP is on track to fall for a second straight year. Energy-intensive industries like chemicals and metalwork are in the tank. National champions such as Volkswagen and ThyssenKrupp have announced unprecedented job cuts and factory closures.