“We are not a frying pan in Teflon ! “If the sentence had not been pronounced by a famous economist, one would have to believe that it emanated from a member of the team of Angela Merkel. It is not the case. The economist called Michael Grömling. He is head of department for economic of the economic Institute in Cologne (IWK) and he speaks of the German economy.
By a coincidence, the diagnosis in the fall of the four largest economic institutes of the country, made public Thursday, September 27, falls at the same time that a major political crisis for chancellor Angela Merkel, once dubbed the “frying pan Teflon” by the u.s. secret service, for its ability to withstand everything.
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For the German economy, the end of the euphoria
Is this a sign ? Economists describe what is apparent at the beginning of the end of the long phase of expansion of the first economy of the euro area, which began six years ago. “Germany should prepare for the slowdown,” explained at the beginning of September Stefan Kooth, of the economic institute of Kiel (Schleswig-Holstein, northern), which table on the ” end ” of the expansion phase.