The Germany illusion. Between economic euphoria and despair

Summary:

Europe is in a period of transition and there is great uncertainty about its direction. No country plays a greater role in influencing Europe's future path than Germany, which is either seen as overbearing or indecisive in its imposition of policies – and sometimes is seen as both at once. This book provides a distinctive corrective to common misunderstandings of Germany's domestic political economy and how it affects its European and global roles.

The author’s analysis sheds light on the true state of Germany's economy, which is neither as rosy as optimists believe nor as hidebound as pessimists fear. He covers the breadth of the German economy, from its deceptive employment miracle, the sources and underlying problems of its export strengths, its large investment gap, and not least the differences between east and west that continue since reunification.

Understanding the domestic scene in Germany is crucial to understanding its relationships with other European countries, the European Union, and the United States. The book traces the sources and implications of the differences and conflict between Germany and its neighbors on European policymaking generally and in particular during the European economic and financial crisis, the Brexit debate, the refugee crisis, the rising populism and protectionism in the United States and in Europe, and over fundamental reforms of European institutions.