Germany is pursuing a “dangerous” strategy in assuming a pick-up in world growth will restore the health of its export-driven economy, a top adviser to the Berlin government has warned.
Peter Bofinger, economics professor at Würzburg university in southern Germany, described the country's response to the global crisis as like “waiting for Godot”.
“We're waiting for exports to increase and become dynamic again. If this succeeds we are lucky but we have no plan B,” he said in a Financial Times video interview. “I think it's a rather dangerous approach just to sit back and wait for the rest of the world to give us the boost to growth in the next few years.”
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