BERLIN: Germany is generally hailed as the most successful member of the eurozone. It is one of the five euro economies to have returned to their pre-crisis per capita income, according to the International Monetary Fund.
Joblessness has barely risen and the level of youth unemployment has put its peers to shame. It may seem that amid the turmoil of the Syrian war, the threat of jihadism and the thousands of migrants beating at Germany’s door, the domestic economy is the one thing Angela Merkel, the chancellor, can rely on. That may prove to be a mistake.
The latest growth numbers for the single currency area revealed a decline in Germany’s hitherto solid performance. It no longer outpaces its eurozone partners, having expanded 0.3 per cent in the third quarter of the year, well below the 0.8 per cent of Spain.
