The Economist rides to Schröder's rescue

[Kellanved]

One of the world's most prominent business magazines has given the German economy the thumbs up. The positive review in "The Economist" has everyone surprised - except for the chancellor.



Great Britain's and maybe the world's most prominent business magazine is not known for its love affair with Germany's economic system.


The decidedly pro-business Economist has in recent years enjoyed ribbing Europe's largest economy for its stagnant growth rates, high unemployment and a union strength that has led to sky-high labor costs. All the more surprising, then, that when the German symbol, the black eagle, graced the front of this week's magazine as a caricature, it was flexing its muscles underneath the headline "Germany's surprising economy."


"Some forecasters are now predicting that Germany, which has for so many years disappointed on the downside, could be about to surprise on the upside," the magazine wrote in the lead editorial.
...

http://www.dw-world.de/dw/article/0,1564,1684909,00.html

http://www.dw-world.de/dw/image/0,1587,1684898_7,00.jpg

It's funny: because the German media puts their own political agenda in front of the facts, the first fair review of Schröder's reforms comes from a British magazine.
In fact, many German media outlets are busy playing down the article - pretty strange, considering that the German economy-oriented newspapers don't even come close in respectability and quality.
On the other hand the Economist praises the very thing criticized by the Social Democratic party base - while the article probably won't topple the anti-Schröder block, it might very well erode his base further.
The fact remains: the Schröder Government brought Europe and Germany ahead, but the reforms won't show much effect for another year at least. Few voters remember, that the last conservative Government caused stagnation for 16 years; it was content with riding the wave of Schmidt's reforms while failing to do anything to keep the country going. The same thing might happen again.

[Cha]

1. I hope this is true..

it's great to see a Country that didn't lap dog bush into Iraq have a good economy.

[MissMarple]

2. Good for them. I think they have been having troubles lately.

It was all the French benefits. ;)

[AX10]

3. I didn't know that Germany too has a right wing media.

Sorry to hear this. Glad to see the Economist be reasonable here. Schroeder's reforms are realistic and fair. I wish the SDU the best on the 18th. Germany will be VERY sorry with Chancellor Markel :puke:.

Schroeder/Fischer 05'!