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PROFIT AND LOSS
Germany has been touted as one of the most successful markets to emerge from the downturn,
with law firms benefitting from the positive developments in the economy. However, recent
Eurozone issues have dampened enthusiasm as German banks remain risk-averse in the face of
pan-European crises and the role of Germany in potential bail-outs is decided.
Anastasia Hancock reports
WITH the potential for the Eurozone to fall back into a technical recession in the last quarter of this year, Germany’s GDP remains
unchanged. The optimistic predictions of recovery
before the end of the financial year have been dashed
as even modest growth across Europe’s worst hit countries is unattainable.
While this means that the country is showing com-
parably more success than some of its neighbours given
recent reports of Italy’s banking emergencies and a
deepening crisis in Greece, Germany is by no means
buoyant. The current state of the sovereign debt crisis
has prompted the government to reduce its 2012
growth forecast. Despite this, the picture across
Germany is certainly prettier than many of its major
counterparts, and economists remain hopeful the coun-
try will still record growth, however minimal.