Is Germany benefiting from its restrictive fiscal policy?

Germany has chosen a restrictive fiscal policy and to reduce its public debt ratio. Is it benefiting from this choice? Such benefits could include: Lower long-term interest rates? But the gain is small compared with the other euro-zone countries; Ricardian neutrality leading to a lower household savings rate or to a higher investment rate? This cannot be seen; A lower primary fiscal surplus (excluding interest on the debt) because the interest paid on the debt is lower? Germany has a large primary surplus; The availability of savings to finance Germany's private sector, since the public sector has no borrowing requirement? No, the Germans’ savings surplus is being lent to the rest of the world. All things considered, none of these possible positive effects of a reduction in Germany's public debt ratio can be seen .