In five pages this paper discusses the fiscal problems that the economy of Germany continues to struggle with including topics such as economic outlook, reunification woes, and labor concerns. Two sources are cited in the bibliography.
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one of Europes largest economies. During the late 1990s and early 2000s however, Germanys once-strong economy is now faltering. Some other reasons why he Germanys economy is not
as strong as a once was include the negative impact of reunification between East and West Germany; restrictive monetary policies from the German government and the German governments generous entitlement
system for its citizens. Experts point to the fact that many of Europes economic problems can be traced to Germanys
problems (Samuelson, 2002). The countrys population, at 82 million people is about one-fifth of the European Unions entire population, while Germanys gross domestic product (GDP) makes up a quarter of
the EUs entire GDP, at about $2 trillion (Samuelson, 2002). Unfortunately, Germanys GDP grew only 0.6 percent in 2001, with experts predicting that during 2002 the growth would be only
0.4 percent (Samuelson, 2002). Furthermore, since 1991, unemployment throughout Germany is at an average of about 8 percent, with the number of
jobs in Germany today approximately what it was 10 years ago (Samuelson, 2002). Furthermore, during the final months of 2001 and the early months of 2002, banks, construction companies in
other companies had laid off many employees, with the result being an estimated 4 million unemployed, rather than the 3.5 million unemployed as originally targeted (Anonymous, 2002).
For those who do work, average job wages dropped from 2.6 percent in 2001 to 2.3 percent in 2002 (Anonymous, 2002).
Nor is the news likely to get better. According to a study performed by economists at Goldman Sachs, underperformance in Germany could likely last for