Storm clouds gather over Germany

Germany’s economy has been trumpeted as a new Wirtschaftswunder, or economic miracle, in recent years. So analysts have been hoping that Germany can lift the rest of the eurozone out of the mire.

Forget it, says John Hulsman of the John C Hulsman global political risk consultancy. There is a “strong case that not only can Berlin not save the rest of the continent, it will be hard-pressed to save itself”.

For starters, “the German economy has passed its peak for now”, says Thomas Gitzel of VB Bank.

In the past decade, over half of Germany’s growth [...]

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