Germany’s new coronavirus stimulus package is wide of the mark, taking little account of the impact on investment, unemployment and loss of export income.
Cross-posted from Makroskop and Brave New Europe
Translated by BRAVE NEW EUROPE
The economic stimulus package is hailed by most of the media as a big bang. …
Germany’s metal workers’ union: Making a success out of failure
By Heiner Flassbeck and Michael Paetz (1)
Germany’s metal and engineering union, IG Metall, claimed to have scored a major success last week. A 4.3 percent pay rise sounds good if you demanded 6 percent with a lot of ballyhoo. …
Incorrect GDP calculations
The difference between what a knowledgeable observer can deduce from data concerning the European economy and what the official statistics office makes of it is becoming increasingly grotesque. Last week, the Federal Statistical Office reported a growth of German GDP of 0.4 percent in the second quarter of 2016 compared to the previous quarter (see here). …
