Economics
No Mere Crisis Will Convince Germans to Fall in Love With Debt
- ‘Prudence is still in fashion,’ says Allianz’s Utermoehl
- Merkel is happy Germany didn’t drink ‘sweet poison’ of debt
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Just because Germany has embraced a massive fiscal binge to address the coronavirus crisis, don’t assume the country has suddenly changed its ways.
In the nation whose budget prudence used to be the scourge of economic policy makers from Frankfurt to Washington, some politicians are already plotting how to reinstate parsimony when the bad times are finally over.