Report
Patrick Artus

Will the economic problems push Germany towards a European solution or towards a non-cooperative solution?

As a result of the industrial recession, caused by the unfavourable industrial specialisation, the deterioration in cost competitiveness and the increase in precautionary savings, we should expect a long period of sluggish or zero growth and rising unemployment in Germany . For the rest of the euro zone, it is important to know how German economic policy will react to this situation: A "European" reaction: implementing, together with the other euro-zone countries, a plan of investment in new technologies and renewable energies; A "non-cooperative" reaction, as in the Gerhard Schröder era: corporate tax cuts, wage restraint, in order to reduce production costs and gain market shares from the other euro-zone countries.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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