Germany could be set to face the worst recession in its history, an economic research group forecast Wednesday, Dec. 10. The announcement comes after the World Bank predicted a sharper global downturn. The Rhineland-Westphalia Institute for Economic Research (RWI), a leading German economic research organization, said in a statement that Germany, Europe's largest economy, would see gross domestic product (GDP) shrink 2 percent next year. In September, RWI had forecast growth of 0.7 percent in Germany for 2009, but downscaled this prediction after factoring in recent events in world-wide financial sectors. "The reasoning is that the financial crisis is taking a wider toll on the economy than previously anticipated," the Essen-based group said http://www.dw-world.de/dw/article/0,,3863212,00.html Or to say it in the words of "honorable" ECB council member Weber Policy makers at the ECB may need to raise borrowing costs once the economic outlook ``brightens'' toward the end of the year and next year, said Weber, who heads Germany's Bundesbank.
Mmmm... Wasnt Germany bombed to the stone ages and didnt they hyperinflate last century? Is it going to be that bad this time again?
bomb ze germanz! i think their economy dropped by more than 2% after WWI.... so that seems improbable.... their hyperinflation was one of the worst in history....
Go to google.com, type "Hyperinflation + Germany" in the search box. Click on "images". Click on "search images".
The EU is Fucked. Germany is going down the tubes because it was stupid enough to join the EU and bring in the debt of all smaller EU countries, like GREECE. The EU is far worse off than the US. Germany may be the first EU member to break away. Socialism does not work!!!!!!!!!!!!!!!!!!!!!!!!!!! EU will be the proof!
yea right. and what started this financial mess ? US 'capitalism' just remember when you're mugged on the way home or arrive there to discover it's been broken into and you've been robbed how great the US economy is Americans have a very myopic view of the world, it ends at the borders of their country, if you think the economic predictions being made about other countries won't be similar or worse for the US you're very naive, give it a few months and you'll learn who's 'far worse off' as to socialism, Americans seem to equate the meaning of the word with Communism, preferring the belief that life is 'everyone for themselves' which has produced the ethos of thieves and robbers
First, please don't blame us for your economic problems. The US is not the root of all your economic woes, contrary to what the popular belief is. Secondly, we are getting hit just as bad as Europe from what I can tell. Thirdly, we are a socialistic country as well. Maybe not quite as socialistic as Europe, but we're getting close.
Actually, given the tendency to follow USanian management practices, youth culture, consumer culture, etc you probably are the root of their problems. Sure the Europeans and Aussies have done it to themselves (Aus is still in denial but the truth is coming to a town near me) but they did it by following US trends. That's the joy of global consumerism for you - frugality is the new black!