German Economy

German economy ‘faces disastrous 2009’

Snared by the global economic slump, the German economy contracted sharply last year, suggesting a disastrous 2009 for Europe’s industrial powerhouse.

Isabelle Le Page

3 min read

ANGELA MERKEL

13 JAN 2009

German fiscal plan to cause record budget deficit

The costs of a new financial stimulus plan and a slumping economy will cause Germany’s budget deficit to hit a record in 2009, a top lawmaker said.

Staff Reporter

1 min read