Germany the ‘tired man’ of Europe, finance minister admits

BERLIN, GERMANY – NOVEMBER 15: German Finance Minister Christian Lindner provides a press release to the media at the Chancellery following the weekly authorities cupboard assembly on November 15, 2023 in Berlin, Germany. The subject was a ruling by the German Constitutional Court declaring that the coalition authorities’s shift of federal cash in 2021 initially earmarked to alleviate the penalties of the coronavirus pandemic and that had gone unused in the direction of local weather change mitigation measures was illegal. (Photo by Sean Gallup/Getty Images)

Sean Gallup | Getty Images News | Getty Images

Germany’s finance minister on Friday provided up a brand new analogy for his nation’s ailing financial system, following months of debate over whether or not Europe’s conventional powerhouse had develop into the “sick man of Europe.”

“I do know what some of you might be pondering, Germany most likely is a sick man. Germany shouldn’t be the sick man,” Christian Lindner informed World Economic Forum delegates in Davos, Switzerland, at a Bloomberg panel on Friday.

Lindner mentioned that “after a really profitable interval since 2012 and this 12 months of disaster, Germany is a drained man after a brief night time.”

References to Germany as the “sick man of Europe” resurfaced final 12 months. The financial system averted recession at the finish of 2023 however shrank by 0.3% year on year, because it grappled with excessive power prices, inflation and rates of interest. Germany’s manufacturing output, excluding development, dropped by 2% in 2023.

The “sick man” title had first been used to explain Germany’s financial system in 1998 as the nation navigated the expensive challenges of a post-reunification financial system.

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