German exports plunge

[BlasterBates]

This is just 1 quarter.

It is very likely that the next quarters are negative.

Do you still call BOOM?

why? that's not what I'm hearing.

Good news really.

[AlfredJPruffock]

Interesting point on the BBC site as to why France amnd Germany's economic recovery is more robust -

France and Germany have also benefited from what economists call automatic stabilisers.

Their social security systems are more generous than the UK's and this has provided more support to consumers.

It is one of the reasons why they argued they did not need to follow the UK with headline-grabbing measures to stimulate the economy.

What this means - if you lose your job in most EU states - then its not the end of the world - providing you have paid the social contributions - you will get appox 70 per cent of your take home for a year or so - that means you will not go from boom to bust - and it means that consumer spending remains healthy during a recession.

It was Thatcher who removed Earnings Related Benefit from the UK back in 1980 - big mistake in my view.

[Mich the Tester]

None of my German possessions have collapsed, sunk, plunged, or let me down in any other way, except for one bottle of 1998 Deidesheimer Riesling Spätlese which was corked; luckily I had another bottle to hand, and it was exquisite.

[DimPrawn]

It was Thatcher who removed Earnings Related Benefit from the UK back in 1980 - big mistake in my view.

I blame Thatcher.

Can you imagine how many people would be on benefits here if you got 70% of your salary as dole money? And how many "economic migrants" / "asylum seekers" would be legging it down the Chunnel?

[AlfredJPruffock]

I blame Thatcher.

Can you imagine how many people would be on benefits here if you got 70% of your salary as dole money? And how many "economic migrants" / "asylum seekers" would be legging it down the Chunnel?

Its not as simple as that - first you have paid contributions to the social system for at least a couple of years - secondly you dont qualify if you resigned or were fired - to qualify you have to have been made redundant - and the benefit lasts for 6 months to a year.

Then you are survival money - or you find a job.

France has as many immigrants as the UK and its not a problem.

I think the reason Thatcher took it away - for the same reason that some people in London seem to like clothing that is slightly uncomfortable to wear ....