German eagle on Chinese steroids

Published on 16 August 2010 at 09:55

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The German eagle has picked up its feathers, and even a Superman costume, proclaims the front page of the Frankfurter Rundschau, illustrating the sensational German economic recovery in the second quarter, a growth of 2.2% since the beginning of the year. This figure, unequalled in the last 20 years, is still "far from being a miracle", warns the paper. The current "superstar" of the European economy may not stay on its perch for long, as it is the victim of "doping", it claims. In fact, "Angela Keynes", as the daily refers to the German chancellor, took steps this winter to bolster the economy through a series of public works projects. Ms Merkel "can thank (British economist John Maynard) Keynes for the theory, and the USA and China for having so zealously put it into practice", it adds, largely because of demand from the US and China that German exports have risen. "The Germans have pulled the Czech economy up," adds the Prague daily Hospodářské noviny, even though "the recovery will not last long".

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