English: The Fall of the Berlin Wall, 1989. The photo shows a part of a public photo documentation wall at Former Check Point Charlie, Berlin. The photo documentation is permanently placed in the public. Türkçe: Berlin Duvarı, 1989 sonbaharı (Photo credit: Wikipedia)

This is an excellent, MUST READ, research article published by Natixis.com. Check it out!

To read the PDF article open this link

Let me cite the conclusion from the article:

Germany has switched from a pre-crisis model where growth was driven by exports and investment, after the polices aimed at boosting supply had provided the expected positive effects, to a post-crisis model where growth is driven by consumption and where real wages increase faster than labour productivity

Personally, I am amazed by the article. Most commentators, including this blog, are typically looking to Germany to reflate her economy faster to kick-start growth in Europe.

Any thoughts?

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