And the basis of this prediction is?

When was the last time that German living standards increased at this rate? The German economy is in big trouble. The eurozone, on which German prosperity depends, is falling apart due the economic incompetence of its German leadership, or rather lack of . The current Greek crisis is just a taste of what will follow unless the Germans, and the Dutch, start to exercise some real economic leadership rather than simply using the membership of the peripheral countries as a means of keeping their currency from becoming too valuable on the exchange markets.

That means working with other euroland governments to produce real growth everywhere in Europe. If there’s to be growth in Germany there has to be growth in Greece and Spain too.