The German Model and the European Crisis / Luigi Bonatti 

Public ISBD Titre : The German Model and the European Crisis Type de document : document électronique Auteurs : Luigi Bonatti, Auteur ; Andrea Fracasso, Auteur Editeur : UACES Année de publication : 2013 Collection : JCMS Journal of Common Market Studies num. Vol. 51, nr. 6 Importance : p. 1023–1039 Langues : Anglais (eng) Tags : Crise européenne  Modèle allemand  Compétitivité  Développement économique et social Résumé : The large current account imbalances in the eurozone reflect persistent diverging trends between core and periphery countries, also fed by low interest rates and abundant capital flows brought about by the introduction of the euro. With the global financial crisis, the market sentiment has changed, and capital has left the periphery countries suffering from debt and growth problems due to their failure to bring price–wage dynamics into uniformity with those of the more disciplined countries. Germany is called upon to provide financial assistance and additional external demand; however, though the euro is at stake, Germans are recalcitrant. This article investigates the rationale of the German stance in light of the (corporatist-etatist, neo-mercantilist) German socio-economic model and the widespread concern about losing the competitiveness that Germany regained through painful reforms and changes in the last two decades. The German Model and the European Crisis [document électronique] / Luigi Bonatti, Auteur ; Andrea Fracasso, Auteur . - [S.l.] : UACES, 2013 . - p. 1023–1039. - (JCMS Journal of Common Market Studies; Vol. 51, nr. 6) . Langues : Anglais (eng) Tags : Crise européenne  Modèle allemand  Compétitivité  Développement économique et social Résumé : The large current account imbalances in the eurozone reflect persistent diverging trends between core and periphery countries, also fed by low interest rates and abundant capital flows brought about by the introduction of the euro. With the global financial crisis, the market sentiment has changed, and capital has left the periphery countries suffering from debt and growth problems due to their failure to bring price–wage dynamics into uniformity with those of the more disciplined countries. Germany is called upon to provide financial assistance and additional external demand; however, though the euro is at stake, Germans are recalcitrant. This article investigates the rationale of the German stance in light of the (corporatist-etatist, neo-mercantilist) German socio-economic model and the widespread concern about losing the competitiveness that Germany regained through painful reforms and changes in the last two decades.

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