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By Pete Moore On July 26th, 2019

German industry is in the deepest slump since the global financial crisis and threatens to push Europe’s powerhouse economy into full-blown recession. The darkening outlook is forcing the European Central Bank to contemplate ever more perilous measures.

The influential Ifo Institute in Munich said its business climate indicator for manufacturing went into “free fall” in July as the delayed damage from global trade conflict takes its toll and confidence wilts. It goes far beyond the woes of the car industry. More than 80pc of Germany’s factories are in outright contraction.

Remainers finally got their recession. They just need to get the right country next time. It’s astonishing that the Krauts are suffering, what with all the doctors and engineers they’ve been importing. Remember how our economies are so dependent on them?

For all their supposed love of the EU, Remainers take remarkably little notice of what’s going on over there. The entire eurozone is an economic basket case. With the dial set to ever greater integration, there’s no prospect of turning it around.


  1. Yes Pete, neo-liberalism may well find its graveyard when the neo-liberal Euro currency finally collapses. As a staunch opponent of neo-liberal globalisation, I’m sure you will join me in welcoming that outcome.

  2. https://www.irishtimes.com/opinion/brexit-britain-the-more-demented-our-neighbour-looks-the-saner-ireland-appears-1.3967235

    Peter, I don’t think you said neo-liberal enough times in the comment above.

  3. All eyes on paymaster general, Germany.

    Mind you, it will do them good to have a bit of bit if Greek austerity.