The Fiscal Times, Sept. 28, 2010: Lessons for the U.S. from Germany’s Growth Machine
Earlier this summer, as most of the world wallowed in discouraging news about the global economy, one bright spot emerged in Europe: Germany. Despite being the primary national funder of the Greek bailout, the German economy grew by nine percent in the second quarter — the country’s fastest rate of growth since the fall of the Berlin Wall. In the days following this unexpected news, German bankers raised GDP projections from 2 percent to 3 percent for the year, boosting euro zone growth to nearly 4 percent. The DAX — the German stock index — is also up nearly 3 percent for the year.
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