This is an excellent MUST READ article from Spiegel. Check it out!
This week we have seen Europe’s growth statistics for Q2, and Germany had a strong quarter compared to Q1 on the back of consumer growth. However, many sober analysts have focused on the lower levels of investment from German industry and more alarmingly the state of some major German banks; perhaps this explains why Angela Merkel was lukewarm to some of the European Commission proposals to reform regulation of Europe’s banks proposed by Olli Rehn?
Let me turn this to an open question:
When do you think that the German public will wake up to the risks facing Germany and what are the likely consequences?