HomeInvestmentEnd of the German Idyll

End of the German Idyll

Germany looked normal over the weekend as a genial Chancellor Olaf Scholz welcomed the Group of Seven leaders and their guests to the luxurious Schloss Elmau in the Bavarian Alps. But those appearances are deceiving. Germany is facing its gravest challenges since the foundation of the Federal Republic following World War II.

This is very sudden. As recently as 2020, almost the entire world agreed with the smug German self-assessment that Germany had the world’s most successful economic model, was embarking on the most ambitious—and largely successful—climate initiative in the world, and had perfected a values-based foreign policy that ensured German security and international popularity at extremely low cost.

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