Germany struggles to pinpoint causes for its economic malaise

Ifo has forecast that the German economy would probably shrink by 0.1 per cent in the third quarter, which would amount to a recession after a similar contraction in the April-June period.PHOTO: REUTERS

BERLIN - German captains of industry rarely receive a dressing down in public at home.

But, at a business reception last week, Wolfgang Schäuble, long-time minister of finance and currently president of parliament, accused the bosses of having become complacent and lazy. He also complained about their lack of social engagement and said they had lost their moral compass.

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