From the German perspective, the structural situation of the other three large euro-zone countries has certainly not improved

The principle of the German position is well known: economic policy cooperation (common investment budget, European industrial policy, etc.) in the euro zone is possible if the other euro-zone countries carry out reforms and improve their structural situation; Germany is obviously reluctant to support countries that do not make structural efforts. However, it has to be acknowledged that from the German perspective, the structural situation of the other three large euro-zone countries has not improved since the creation of the euro. We are actually seeing : The low efficiency of the education system (France, Spain, Italy), without progress on this point, and, as a result, high structural unemployment; The lack of productivity gains (Spain, Italy); The low government efficiency and productivity, and the absence of pension reform (France); The weak corporate modernisation (France, Spain, Italy) and, as a result, deindustrialisation. This explains Germany's understandable reluctance to introduce cooperative, solidarity-based economic policies.