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Philip Booth, Editorial and Programme Director at the Institute of Economic Affairs commented on the poor economic performance of Germany and France.

 “It is no surprise that the French and German economies are performing poorly. As far as France is concerned, for some years the country has been following policies that seem as if they are designed to discourage growth and employment: it is highly likely that the current abysmal growth and employment trends are set to continue.
 
“After important reforms at the beginning of the twenty-first century, Germany is also beginning to make some major policy errors, such as the introduction of a minimum wage. Germany also has long-term structural difficulties that will slow growth over the coming decades.
 
Today’s news should stop the fascination of our political class with German economic policy. Germany has not, in general, performed better than the UK and is unlikely to do so in the near future.”
 
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Notes to editors:

The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
 

The IEA is a registered educational charity and independent of all political parties.