There’s a tendency to think, that because Germany is the healthiest economy in the EU now, that it is healthy and it has always been that way. A set of graphs shows that’s not the case:
What’s interesting about these charts, is that Germany is shown in each one in comparison to another country.
In the top row, Germany starts during the Great Recession with unemployment over 8%, and is beaten on that count by half the countries. By while Germany improves more or less steadily, the other countries each get progressively worse.
The story with the debt/GDP ratio is a little different. Germany is slowly getting worse here. But following one path or another, all the other countries end up at the same level or worse.
Read the whole thing, entitled “Inside Merkel’s Bet On the Euro’s Future” in the April 24 issue of The Wall Street Journal.