Dear Reader, Germans haven’t been in such a pessimistic mood as the one they’re in now for years. The apparent stability of the Merkel era convinced the mainstream of society that their politicians were competent custodians of the public finances and that the economy was in a period of stable growth.
My guess is that Germany will be OK, because the electorate in Germany is more realistic than in most comparable countries, the UK in particular. Germans don't seem to suffer from the illusion that they can have world-class public services with low levels of taxation. Hence Germany's relatively low levels of debt. Germans also save more than Anglo-Saxons, which helps.
My guess is that Germany will be OK, because the electorate in Germany is more realistic than in most comparable countries, the UK in particular. Germans don't seem to suffer from the illusion that they can have world-class public services with low levels of taxation. Hence Germany's relatively low levels of debt. Germans also save more than Anglo-Saxons, which helps.
Just shared it with Expats Germany on FB.