This has weakened his claim to be the one who could lecture other financial ministers on how to run their economies. He should publicly apologize to the IMF staffers whom he scolded last time for being too pessimistic on the U.K.
More Quotes from Holger Schmieding:
Germany is reaping the fruits of wage restraint and painful structural reforms. In addition, the change in government seems to have improved the business climate even if Merkel has so far done hardly anything in terms of serious economic reforms.Holger Schmieding
The figures are not proof yet of an economic slowdown as they are being distorted by cutbacks in work creation programs.
Holger Schmieding
The last 24 hours were the worst setback for reform hopes in Europe in a long time.
Holger Schmieding
The orders data confirm that demand is very robust and we expect a significant acceleration in output growth shortly.
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There is a reasonable chance of the bank cutting rates.
Holger Schmieding
They were slightly more dovish than I expected. There is a bit of a conflict between the bank's statement, and the numbers they gave.
Holger Schmieding
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