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The German economic crisis is a significant downturn of Germany's economy that marked a dramatic reversal of its previous "labour market miracle" period of 2005–2019. The country, which had been considered to be Europe's economic powerhouse in prior decades, became the worst-performing major economy globally in 2023 with a 0.3% contraction, followed by minimal growth in 2024 leaning on ...
Financial stability is the absence of system-wide episodes in which a financial crisis occurs and is characterised as an economy with low volatility. It also involves financial systems' stress-resilience being able to cope with both good and bad times. Financial stability is the aim of most governments and central banks. The aim is not to ...
The European Stability Mechanism (ESM) is a permanent rescue funding programme to succeed the temporary European Financial Stability Facility and European Financial Stabilisation Mechanism in July 2012 [292] but it had to be postponed until after the Federal Constitutional Court of Germany had confirmed the legality of the measures on 12 ...
Germany's balanced budget amendment, also referred to as the debt brake (German: Schuldenbremse), is a fiscal rule enacted in 2009 by the First Merkel cabinet.The law, which is in Article 109, paragraph 3 and Article 115 of the Basic Law, Germany's constitution, is designed to restrict structural budget deficits at the federal level and limit the issuance of government debt.
Fiscal sustainability, or public finance sustainability, is the ability of a government to sustain its current spending, tax and other policies in the long run without threatening government solvency or defaulting on some of its liabilities or promised expenditures.
Eurobonds or stability bonds were proposed government bonds to be issued in euros jointly by the European Union's 19 eurozone states. The idea was first raised by the Barroso European Commission in 2011 during the 2009–2012 European sovereign debt crisis .
Financial contagion was felt severely, especially in countries whose financial systems were vulnerable due to local housing bubbles and current account deficits. Some of the countries affected were Germany, Iceland, Spain, Britain and New Zealand among others. [21] Many analysts and governments had failed to predict the real effects of the crisis.
The European Stability Mechanism (ESM) is a permanent rescue funding programme to succeed the temporary European Financial Stability Facility and European Financial Stabilisation Mechanism in July 2012 [113] but it had to be postponed until after the Federal Constitutional Court of Germany had confirmed the legality of the measures on 12 ...