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Is Germany’s business model broken?
All three of the country’s major industries are in crisis, and the economy is flatlining. Are politicians finally waking up?
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Over the past three years, Europe’s largest economy has slowly but steadily sunk into crisis.
PHOTO: AFP
Olaf Storbeck, Patricia Nilsson and Guy Chazan
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In a 30-plus-year career in corporate restructuring, consultant Andreas Ruter has seen it all: the dot.com bust, Sept 11 terrorist attacks, the global financial meltdown, the euro crisis, Covid-19. But what’s happening right now in corporate Germany is “unprecedented” and “of a completely different order of magnitude”, says Mr Ruter, the country head of AlixPartners.
The federal republic’s all-important automotive sector,
