Merkel’s time in the mail: what changed in Germany?

In her 16 years as German chancellor, Angela Merkel has said you see Four US and French leaders, five UK ministers and nine Italian and Japanese ministers. Sometimes described as the most powerful woman in the world, she also supervised a national economic revival. Since 2005, Germany has ceased to be a “European patient” and become economically strong.

Probably the best of them all, Merkel, who he rejoices 80% popularity, has focused on job creation opportunities for women and the elderly, all taking in more than a million refugees.

However Merkel’s legacy left Germany after a federal election in September. What many people argue is that even though he was portrayed as a disaster manager, his three roles as chancellor remained unchanged and left Germany unprepared for a green and well-known country.

The “miracle” of the economy

Since 2005, Germany’s wealth per capita has doubled since the UK, Canada, Japan or France.

Today, Germans can enjoy what Carsten Brzeski, chief research officer at ING, says Germany is “second Economic hardshipsr ”, or a financial miracle. With unemployment of about twelve years low, about 70% of Germans number they are happy with the state of the economy

However, not all of this is good for Merkel. Many of its foundations were shaped by the transformation of its predecessor, Gerhard Schröder, according to Neville Hill, a European economist at Credit Suisse. Germany’s second economic crisis came “without Merkel’s government doing anything.”, Added Christian Odendahl, an economist at the Center for European Reform.

In addition, Germany’s production, which now accounts for 40% of total euro output, piggy contributed to China’s rise. Today, Germany’s reliance on China as a export market is much higher in the euro.

Chart of the line of% of exports to China, over 12 months showing Germany's reliance on Chinese exports is the highest in the EU

However, Merkel did not just sit back when Germany became rich. His response to the financial crisis in 2009, such as investment in car finance, helped keep the economy afloat. Likewise his idea of ​​earning billions in the German Kurzarbeit program, the state’s insurance policy.

The result was Germany’s success in creating jobs.

German labor costs have risen among many groups.  Chart 4 shows employment rates%, 4% for women, foreign-born, elderly (65-69) and total employment aged 20-64

Jobs, jobs and much more

Undoubtedly, the best performance in Merkel’s time has been a huge increase in employment – especially for women. Germany today has the highest percentage of women in all G7 countries, with the help of child care, says Oliver Rakau, Germany’s chief financial officer at Oxford Economics.

Line chart for women between the ages of 25 and 64,% indicating participation in German women across G7 countries

Similarly, the work has grown exponentially among visitors. It took courage for Merkel to follow through on her 2015 policies which brought together and included 1m refugees fleeing the war in Syria, Afghanistan and Iraq. As he once said, “we can do this”. Then he did.

European writers 'chart,' 000 depicting Merkel opened German doors for those seeking refuge

The same is not true, however, at a good job. More and more workers are still in low-paying jobs, with little or no improvement over the past two decades. Most women’s jobs are short-lived, and only one company in the blue-chip Dax index has a female superintendent.

Small debt, but a lot of vision or money either

Despite the epidemic, Germany is now richer than ever. Government accounts are completely healthy with low credit, among other things due to the 2009 business rules.

But, similarly, it seems that everything is going well, “the German economic boat is not affected by the big vision,” says Katharina Utermöhl, an economist at Allianz. Despite the growth and increase in employment, there has been little modernization. Opponents add that lower levels of government spending have left the country unprepared for the future.

Chart of a line of fixed-income governments,% of GDP showing that German public funds are weaker than their counterparts

The country’s transition to renewable energy grew after the 2011 Fukushima nuclear event and by Germany’s most recent nuclear power plant by 2035. However, the country remains behind EU allies.

Its greenhouse gas emissions are at the top of the EU, with a lower proportion of electricity from renewable sources, as well as higher CO2 emissions from new transport vehicles.

Germany is in the middle of green measurement Approximate CO2 emissions per km from new passenger cars that can be recycled through greenhouse gas (tons per person)

The same is true of Germany’s transformation of the digital economy. Lack of funding has led to a decline in high-speed buttons, urban and rural distribution and connectivity and reduced electricity consumption.

Both sections were “uninterested”, Odendahl said. “The shortage of funds has probably been a major impediment to Merkel’s economic legacy,” Brzeski added.

EU economic chart and economic groups, 2020 shows Germany lagging behind in many areas of digital

Even before the epidemic, Germany needed € 450bn from state-owned enterprises to begin destroying, improving connectivity, promoting education and promoting infrastructure – which did not have a flood in the summer. Indeed, the need for more money has become a source of frustration for some you want now trying to replace Merkel.

“Covid-19’s problems put a magnifying glass on it [Merkel’s] the shortcomings of the coming government must be addressed to ensure that the green and digital transformation works well, “said Utermöhl.

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