Expect Business as Usual After the German Election

Many pundits believe the German federal election on September 22 will prove a turning point in the sovereign debt-crisis. We are less convinced.

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Weaker Growth Helps Shift Germany’s Approach to Sovereign-Debt Crisis

Recent German data show clearly that the sovereign-debt crisis is starting to bite. This might help explain why the government has given a green light to the European Central Bank’s (ECB’s) new sovereign-bond purchase program. It may also indicate a more lenient approach to Greece—at least for the time being.

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Is Germany an Example Other
Euro-Area Countries Can Follow?

Germany may have the strongest economy in the troubled euro area, but the euro has not been a massive “free lunch”, as some critics claim. Germany’s strength has come at the cost of many painful years of sacrifice.

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