A Case of the Sniffles; Germany's Economy  

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[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 401 no. 8759 (Nov. 2011), page 53.
Topik: Economic Crisis; International Trade
Fulltext: A case of the sniffles.pdf (38.2KB)

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Much of Europe has pneumonia. How is that affecting Germany, the continent's biggest economy? Exports are surprisingly buoyant considering the European pandemonium; they rose by 0.9% in September. But industrial production dropped by 2.7% in September and new orders, a harbinger of future output, fell by 4.3%, the third monthly decline in a row. The biggest problem is the euro crisis, which is playing havoc with Germany's trading partners. economists are betting that Germany will eventually do whatever is necessary to end the crisis. The surest way is for the European Central Bank to buy the debt of wobbly countries like Italy, a notion that terrifies Germans, still seared by their grandparents' memories of hyperinflation. If that is what Mario Draghi, the bank's (Italian) new president, decides to do, Germany's president, Angela Merkel, may not stand in the way.

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