"It may be that Germany is the sick man of Europe. But things are hardly better elsewhere. The fact that growth in the European Union is currently meager bodes little well for the future.
Is Germany the sick man of Europe again? Given the major structural weaknesses of the German economy, this frequently asked question is certainly justified. The fact that Germany is the only large EU state that is forecast to have a shrinking economy this year is evidence of Germany's particular weakness.
The German minus this year, of course, hides the fact that things look lean everywhere in the EU. For 2024, the EU Commission is forecasting growth of just around one percent in the three largest countries.
This weak figure is not very encouraging, especially since the EU is pumping money from the debt-financed "reconstruction fund" that is supposed to promote growth.
Not just Germany, the entire EU is in a structural crisis that is primarily politically caused.
Economic Commissioner Paolo Gentiloni acts as if it was just a small, particularly German, dent caused by Ukraine that will disappear happily in 2024. He probably knows better. The whole EU is sick." [1]
A politically induced crisis calls for a change in politicians, especially during elections.
1. Die ganze EU ist krank
Frankfurter Allgemeine Zeitung (online)Frankfurter Allgemeine Zeitung GmbH. Sep 11, 2023. Von Werner Mussler, Brüssel
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