Political instability in Germany, coupled with ongoing economy uncertainty, could mean that the disruption seen in the U.K. during its Brexit crisis could shift to Europe's largest economy in 2020.
Political instability in Germany, coupled with ongoing economy uncertainty, could mean that the disruption seen in the U.K. during its Brexit crisis could shift across the continent to Europe's largest economy, according to economists and market watchers.24 October 2019, Berlin: Chancellor Angela Merkel attends the plenary session of the German Bundestag.The political and economic identity crisis seen in the U.K.
The instability comes amid a wider picture of polarization in German politics with rising support for the far-right populist party Alternative for Germany and the Green Party. "Mrs Merkel who has been this amazing politician for the last decade, and one of the very few that's been in power for the whole period of time, she's on her way out – and therefore the policies they are proposing at this point are on the way out as well," he told CNBC Europe's Squawk Box.
"There is an enormous transformation coming here and they're just not preparing for it. And that, coupled with the fact that you've got this massive political fatigue in Germany, is going to produce some really big radical change," he noted., a leading indicator on the state of the German economy by business executives, increased for the fourth month in a row in December, to 96.3 from 95.1 in November, showing that sentiment among business leaders is improving.
"A turbulent year for the German economy draws to a close. A year, in which the economy has been flirting with stagnation and technical recession. A year, in which strong private and public consumption has offset the impact from the manufacturing slump. Looking ahead, the widening gap between a weak manufacturing sector and solid consumption as well as a strong labor market looks hard to sustain. Something has to give.
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