> And Germany being overzealous in fiscal and monetary policy has stagnated growth and limited policy options. German fiscal discipline is a tool of strategic

> And Germany being overzealous in fiscal and monetary policy has stagnated growth and limited policy options. German fiscal discipline is a tool of strategic independence. It started in ‘49 when they knew they would eventually had to reabsorb East Germany. Today it allows them to re-arm without having to ask permission. Over the past 20 years, Germany grew more than Italy, France and the UK.