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
Institute for International Economics
Embassy of the Federal Republic of Germany in the U.S.