1. From the Great Depression to the Great Recession -- 2. Causes of the US subprime mortgage crisis -- 3. The crisis spreads to Europe -- 4. Why the European sovereign debt crisis has lasted so long -- 5. US fiscal and monetary policy to cope with the Great Recession -- 6. The role of Germany in...

This paper analyzes recent macroeconomic developments in the eurozone, particularly in Germany. Several economic indicators are sending signals of a looming German recession. Geopolitical tensions caused by trade disputes between the United States and China, plus the risk of a disorderly Brexit,...