Can Germany be saved from itself?
Nine months into the chancellorship of Friedrich Merz, the outlook for Germany looks grim. The country’s economy, the world’s third biggest, has been in recession or stagnation for the past three years as its leaders confront the worst economic crisis since the 1950s. Damningly, portions of the German press have accused Merz of presiding over an ‘economically lost year’. Last year’s data makes for tough reading: industrial production was down 1.3 per cent and large corporate bankruptcies up 25 per cent. In the first six months of the year, 109,000 manufacturing jobs were lost. 48,000 of these were in the battered car industry which has a 24 per cent share