The ones that used to go to the euro zone, I mean. Wo sind sie geblieben?
German imports tumbled at their fastest rate in two years in April and exports fell, adding to evidence that Europe’s largest economy is beginning to feel the chill from the euro zone debt crisis.
Hey, I’m all for austerity, too, Germany. But when your European partners are too austere to buy your German products, what happens then?
That’s when Plan B kicks in (the German master plan is well thought out, you know, the diabolical #!?§#!s): Exports to non-EU markets are now on the rise.
“German companies feel that foreign demand isn’t as dynamic as it used to be as the global economy is entering a weaker phase. The weakness originates in the euro area, where the debt crisis can no longer be felt only through budget cuts and austerity but increasingly creates uncertainty about economic prospects, which is reflected in weaker investment.”