German Economy and European Crisis

“Well that’s the story that German politicians like Merkel keep telling, Germany is doing fine.  When one asks the people who are employed through job agencies, the 20% of people who work in the low wage sector, with temporary or mini-jobs, one gets a completely different picture. What one can say is that German business, the export industry has been doing quite well, German millionaires and property owners are doing very well, because their share of the national income has grown steadily. This has not been the case for the overwhelming majority. ”

Initially published on Sep 26, 2012