Reason to Doubt Sunny Forecasts for Germany

Germany recently got its new government – maybe.

After more than two months of negotiations, the new ruling parties finally agreed to form a government. The agreement is 184 pages long. But the fate of the government’s future is now in the hands of the 475,000 members of the Social Democratic Party (SPD). To join the coalition with the conservative Christian Democratic Union, the SPD leadership demanded that a majority of all party members should approve the party’s participation in the new government. Now, the 475,000 are asked to vote in the coming days. The result will be announced on December 14. Surely the outcome of the ballot will be surrounded by much excitement. Though I find another expectation – the general trust in higher economic growth in Germany next year – more exciting because no one can really convince me about where the new impetus will come from.

*Read the full article at Caixin.

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