Germany: Stimulus: willkomen, bienvenue, welcome!

The news from Germany, as from almost everywhere in the world, is bad. Europe’s engine has just recorded a second quarter of contraction and is therefore in recession. The reason is that the rest of the world has stopped motoring. But the German story has its good side. Some of the factors deterring growth are easing. And the prudent German government is in a good position to do something about its slowdown – and the global one. First the bad news. Germany’s downturn risks being deep. The 0.5% ...