Germany – the sick man of Europe?

Germany was once the economic motor of Europe. Its large domestic market offered business opportunities for its smaller neighbours. Its high-quality machines powered manufacturing all across Europe. Its sound budget policies set the standard for the other EU countries. In the 1980s, however, the German motor began to sputter. It has since come to a standstill. In the second half of the 1990s, German GDP grew by a paltry 1.6 per cent a year, a full percentage point less than the other EU countries.