When Germany Sneezes, Europe Catches a Cold - A Conversation with Economist Marcel Fratzscher

Germany has been Europe’s economic engine for quite some time, both its industrial powerhouse and fiscal anchor in times of deep uncertainty. While Southern Europe suffered deep recessions during the Eurocrisis, Germany maintained low unemployment and a massive trade surplus. After 5 years of economic stagnation induced by the Covid-19 pandemic, that role is now under strain. In a conversation…