Changes

==Economy==

==Economy==

[[File:Robert Habeck.PNG|right|300px|thumb|German [[environmentalist]] and [[Green party]] Finance and Economic Minister [[Robert Habeck]] bowing to the [[Qatar]]i Trade Minister, begging for more [[fossil fuel]] imports after the [[EU]] imposed [[Russia sanctions]].<ref>https://youtu.be/3BU3MudND8Q</ref> ]]

[[File:Robert Habeck.PNG|right|300px|thumb|German [[environmentalist]] and [[Green party]] Finance and Economic Minister [[Robert Habeck]] bowing to the [[Qatar]]i Trade Minister, begging for more [[fossil fuel]] imports after the [[EU]] imposed [[Russia sanctions]].<ref>https://youtu.be/3BU3MudND8Q</ref> ]]

Germany is the world's fourth-largest economy and is currently the largest economy in Europe. From the 1948 currency reform until the early 1970s, West Germany experienced almost continuous economic expansion. Real gross domestic product (GDP) growth slowed down, and even declined, from the mid-1970s through the recession of the early 1980s. The economy then experienced 8 consecutive years of growth that ended with a downturn beginning in late 1992. Since unification, Germany has seen annual average real growth of only about 1.5% and stubbornly high unemployment. In 2006, Germany had its best year since 2000 with 2.7% growth; for 2007, growth was at 2.5% despite a 3 percentage point VAT hike at the beginning of the year. The government forecasts 1.7% growth in GDP for 2008. Unemployment in 2007 dropped to an annualized average of 9.0% nationwide, but it is still significantly higher—15.1%--in the German states that make up the former East Germany.  

Germany was the world's fourth-largest economy and was the largest economy in Europe prior to the NATO war in Ukraine. From the 1948 currency reform until the early 1970s, West Germany experienced almost continuous economic expansion. Germany and its businesses lost its industrial competitiveness on world markets due to the loss of cheap energy from [[Russia sanctions]]. Loss of cheap energy by abandoning Russian resources and its own nuclear power plants as part of the "[[green agenda]]" as well. To keep Germany’s business afloat, Germany launched a massive subsidy program. Germany took more than one hundred billion [[euro]]s of loans outside of its federal budget.

 

 

 

Real gross domestic product (GDP) growth slowed down, and even declined, from the mid-1970s through the recession of the early 1980s. The economy then experienced 8 consecutive years of growth that ended with a downturn beginning in late 1992. Since unification, Germany has seen annual average real growth of only about 1.5% and stubbornly high unemployment. In 2006, Germany had its best year since 2000 with 2.7% growth; for 2007, growth was at 2.5% despite a 3 percentage point VAT hike at the beginning of the year. The government forecasts 1.7% growth in GDP for 2008. Unemployment in 2007 dropped to an annualized average of 9.0% nationwide, but it is still significantly higher—15.1%--in the German states that make up the former East Germany.  

Germans often describe their economic system as a "social market economy." The German Government provides an extensive array of social services. The state intervenes in the economy by providing subsidies to selected sectors and by owning some segments of the economy, while promoting competition and free enterprise. The government has restructured the railroad system on a corporate basis, privatized the national airline, and is privatizing telecommunications and postal services.  

Germans often describe their economic system as a "social market economy." The German Government provides an extensive array of social services. The state intervenes in the economy by providing subsidies to selected sectors and by owning some segments of the economy, while promoting competition and free enterprise. The government has restructured the railroad system on a corporate basis, privatized the national airline, and is privatizing telecommunications and postal services.