Bloomberg’s Mathew Lynn has the German enigma more or less right: it’s a toss up.
“Flip the coin one way, and Germany may be about to enter a sustained period of growth, after some painful structural change, which would boost exports further and give consumers more confidence. It would be a re-run of the “Wirtschaftswunder,” or economic miracle, of the 1950s.
Flip it another way, and costly welfare, an overvalued euro and a demographic imbalance will combine to pitch Germany into permanent decline“.
Well I think I’ve clearly placed my bet, so come on ladies and gentlemen, there is just a little time before they call Les Jeux Sont Faits.