Berlin has been able to use its public finances in a way that no other European nation has.
"This crisis has clearly led to a remarkable U-turn in German politics," Carsten Brzeski, chief economist at ING Germany, told CNBC. "There was no appetite for debt financing ," based on the many years of budget surpluses that Germany was experiencing, Jens Suedekum, professor of international economics at the Duesseldorf Institute for Competition Economics, told CNBC.
The shift showed to investors that Germany was committed to supporting its economy and the stability of the EU, irrespective of its previous attitude. Markets have welcomed the move.
When will Germany finally change its name?
❤😍
bullish for the Jews or bearish?
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