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Sep 17

Is Germany in Economic Peril? The Implications of Deflation in the Economic Heart of Europe

The Heritage Foundation's Lehrman Auditorium

Since the end of the reunification period, the German economy has been mired in a recession. The onerous costs of unification, labor rigidities, high labor costs, and a lack of political will to deal with these structural problems have left the largest economy in Europe paralyzed. But what if the problem proves to be much worse? Adam Posen, Senior Fellow at the Institute for International Economics and expert on macroeconomic policy in the industrial democracies, has propounded an intriguing thesis that Germany is in danger of following Japan in sliding down a deflationary abyss. Furthermore, the implications for deflation in the heart of Europe could well evolve into a first order problem for the United States. Please join us as Adam Posen addresses the question: Is Germany in economic peril? In addition to Dr. Posen, Heinrich Kreft, Political Counselor of the German Embassy, will also put forward his thoughts on where Berlin is headed economically.

More About the Speakers

Adam S. Posen
Senior Fellow,
Institute for International Economics
Heinrich Kreft
Economic Counselor,
Embassy of the Federal Republic of Germany in the U.S.