It is the continent's largest economy, but it also has a high rate of government debt, at Much of Germany's might comes from its strong manufacturing sector, which has meant that, unlike many of its neighbors, the country has not had to rely on the financial services industry or the property market, both of which have been badly hit by the global economic crisis.
But experts warn that Germany, which relies heavily on trade with China, may be highly exposed to any future trouble in the Asian markets. And Dr Christoph Meyer, senior lecturer in European and international studies at King's College London, said despite its success so far, the German economy was not bulletproof.
Chancellor Angela Merkel has insisted even those outside the eurozone must do their bit to resolve the crisis. Experts say it is inevitable that there is a degree of resentment on the part of German citizens, when faced with the responsibility of clearing up another neighbor's mess.
He added that while the crisis had initially hit Merkel's popularity among voters, her approval ratings had risen in recent months. The eurozone crisis has provided plenty of fodder for eurosceptic media and politicians across the continent, with many press reports feeding off old tensions and rivalries.
Loughlin said claims in anti-German sections of the media in Britain and elsewhere that the country is "trying to take over Europe" were used by politicians to boost their standing at home, but could do real damage to international relations. Is there a danger the eurozone crisis could derail Germany's economy? It is not hitting people's pay packets at the moment. World Show more World.
US Show more US. Companies Show more Companies. Markets Show more Markets. Opinion Show more Opinion. Personal Finance Show more Personal Finance. After a delay of several years, a third Baltic state was approved to join the euro in January Lithuania thus became the 19th eurozone member.
However, the euro remains in a state of insecurity with its inability to coordinate economic policy for 19 different national economies. Apparently, a few countries were using the euro to cover up domestic fiscal mismanagement. When they could no longer hide that fact, the rest of the eurozone had to bail them out in order to protect the currency.
As the Cyprus banking crisis in early and the Greek debacle have reminded us, the euro crisis remains largely unsolved. Although the euro and European unity are inexorably linked, the economic uncertainty in Europe may continue for years to come. Next Euro Timeline. Legal Notice: We are not responsible for the content of external links. Each of the eight surveyed countries was put into a control group made up of eight other countries with similar economic trends — inflation, industrial output, import and export levels among other things.
Researchers then extrapolated this data to project where each country would stand if they had not joined the euro. These figures did not consider politics, reform and other external factors. Although researchers said this method was "far superior to other methods," they also said that "a lack of reliable empirical data" made the analysis difficult.
Each evening at UTC, DW's editors send out a selection of the day's hard news and quality feature journalism. You can sign up to receive it directly here. The ministers praised Greece's progress, putting it on track to leave its bailout program this year. The European Commission has for the first time ever rejected the budget of a member state, as it said the spending plans of Italy's populist government were violating the bloc's debt limit and needed revision.
As the rest of the eurozone says goodbye, Germany is delaying its final farewell until April. Visit the new DW website Take a look at the beta version of dw.
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