| ID | 117390 |
| Title Proper | European debt crisis |
| Other Title Information | a view from Germany |
| Language | ENG |
| Author | Zaritsky, B |
| Publication | 2012. |
| Summary / Abstract (Note) | SO FAR THE GERMANS have known about the crisis in the eurozone mainly from newspaper headlines and popular TV programs. In Germany itself, all is still relatively quiet. According to the latest opinion polls, almost 60% of German citizens are convinced that in the coming year their living standards will improve and they will keep their jobs.
True, the German economy is slowing but, according to forecasts, it will continue to grow in the current year as well. Unemployment is at a 20-year low (5.6% of the working-age population in May 2012). Over the past year, wages have slightly increased (+1.1%), as well as labor productivity (+1.6%). The budget deficit has been reduced to an acceptable level: 1% of GDP. Under the medium-term fiscal plan adopted in June 2012, the German government expects to balance the Federal budget by 2016. |
| `In' analytical Note | International Affairs (Moscow) Vol. 58, No.5; 2012: p.118-128 |
| Journal Source | International Affairs (Moscow) Vol. 58, No.5; 2012: p.118-128 |
| Key Words | Germany ; Federal Budget - 2016 ; Unemployment ; German Economy ; European Monetary Union (EMU) |