Analysis of global economic and financial conditions
Is the Eurozone kind of like a house of cards? If so, which countries are the strong ones now? I am ashamed to admit I have no idea who's what now.
Hi Aunt Jane,This economic recession is definitely testing the boundries of a customs union like that of the European Union. The strongest is Germany, with stronger solvency and pretty much no bubbles to speak of. However, due to its massive export sector (40-50% of GDP), it was dragged down by association. Going forward, the German government will be highly levered as well due to its fiscal stimulus.Rebecca