Merkel crisis: Germany recession threat bleeds into EU economy – shock warning

Merkel crisis: Germany recession threat bleeds into EU economy - shock warning

German news site Der Tagesspiegel warned several hard-hiring factors are playing a part in Berlin dragging down the rest of the EU by weakening the Eurozone. Examples of these are the bitter trade spat between the US and China in which Germany is also now embroiled in as well as engineering companies in Berlin which have received nine percent less orders than in the previous year. US President Donald Trump’s further protectionism of the US economy and tariffs on EU products of which the majority spawn from Germany, is causing a mass economic slowdown, as well as the effects of Brexit and talks of a no deal. Germany slips into economic meltdown as US-China trade war escalates Germany recession: Merkel will be keener to avoid a No Deal Added to that, German Chancellor Angela Merkel has ruffled feathers by demanding other EU states first introduce structural reforms for the euro area fiscal policy. Daniel Gros, director of the Brussels think tank Centre for European Policy Studies (CEPS) said: “This tension seems to dissipate.” Mrs Merkel’s orders have specifically affected her relationship with French President Emmanuel Macron, who according to the publication is watching the demise of Germany’s economy like a hawk. The young Frenchman, who earlier this year battled Mrs Merkel for Jean-Claude Juncker’s role before it was offered to Ursula von der Leyen, eve made a prediction the Chancellor’s economic model for the power state would soon fail. In spring, he said Germany had reached “the end of […]

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