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The Germany Illusion
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The Germany Illusion: Between Economic Euphoria and Despair

Marcel Fratzscher

Abstract

“The new economic miracle,” “role model for Europe,” and “beacon of stability”—these and similar euphoric headlines in Germany about the nation and its economy have become almost commonplace in recent years as the country’s self-confidence has grown despite a deep European crisis. The headlines in Europe, the United States, and elsewhere around the globe, however, are startlingly different: “Germany’s austerity obsession,” “Europe’s reluctant hegemon,” “Germany benefitting at the expense of Europe.” So stark a contrast prompts several questions: What is the true state of Germany’s economy? Wha ... More

Keywords: competition, economic and social policy, economy, Europe, European crisis, Germany, protectionism, reform

Bibliographic Information

Print publication date: 2018 Print ISBN-13: 9780190676575
Published to Oxford Scholarship Online: April 2018 DOI:10.1093/oso/9780190676575.001.0001

Authors

Affiliations are at time of print publication.

Marcel Fratzscher, author
President, German Institute for Economic Research (DIW, Berlin) and Professor of Macroeconomics and Finance, Humboldt University, Berlin