Is Germany jeopardising the euro zone’s survival?

Germany's attitude is being severely criticised, and this criticism highlights the risks to the euro zone’s stability that this attitude leads to. This criticism is mainly as follows: The policy conducted in Germany in the early 2000s to reduce labour costs led to the deindustrialisation of the other euro-zone countries to the benefit of Germany; The very high level of German household savings and the country’s budget surplus is leading to an external surplus that is not being lent to the other euro-zone countries. Growth is therefore weakening, both in the short and long term. This criticism is well-founded but excessive, since: Germany has made an effort in terms of modernising companies and improving labour force skills, which has helped improve its competitiveness, and this cannot be criticised; The fact that the population is ageing faster in Germany justifies part of Germany's high level of savings.