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Is Germany now the sick man of Europe? Dear Bob Bischof

27th May 1999

How can I put this without sounding smug and offensive? The German economy, which most of us were brought up to admire, is failing. Britain’s economy, about which the only discussion used to be the pace of its decline, is succeeding. This is not the temporary consequence of the economies being at different stages of the economic cycle. Something fundamental is wrong with Germany.

The Rhineland model, with its emphasis on long termism and consensus, has had a good innings. In the golden age of…

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