HTW Berlin – University of Applied Sciences
The rest of Europe has lately been looking with envy at Germany. Over the past decade or so, Germany has morphed from the sick man of Europe to Europe’s economic …
As Portugal, Spain, and others have to pay exorbitant interest rates on their government debt, all of Europe is threatened with an increasingly worse economic crisis, writes Senior Non-Resident Fellow Dr. Sebastian Dullien. Germany could help, Dr. Dullien argues, but instead a ‘stingy’ Chancellor Merkel is endangering the euro zone with her government’s mindset of demanding punishment for countries in crisis. This essay originally appeared in the January 17, 2011, online edition of Der Spiegel and is available in German only.
Dr. Sebastian Dullien, Senior Non-resident Fellow and professor at the Hochschule für Technik und Wirtschaft Berlin, argues that Germany has been one of the main causes for global imbalances and has not been very constructive in global economic cooperation. Dr. Dullien writes that the world should continue to expect this sort of behavior from the world’s third-largest economy, no matter who wins the upcoming election, as the likely coalition possibilities will not change the macroeconomic debates.