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Jakobsen: Germans are world cup winners but economic losers

Saxo Bank’s Chief Economist Steen Jakobsen argues that while Germany’s football players are world class winners, the German economy is on a losing streak. Steen states that Germany has become complacent and could be heading for zero growth. The German economy is slowing fast, according to data, and too fast for comfort when we look at Eurozone GDP.  
Steen says, "I have long argued this slowdown was coming based on Asia rebalancing (reducing imports of capital goods and turning more domestically-based); Bad energy policy (being dependent on Putin and his Russian gas rather than German nuclear energy — not exactly perfect substitution); A new minimum wage and a coalition government that has either reversed or halted a lot of the progress that had been made in the labour market."



01:58 minutes
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