[Jimbuna]

In truth, the German industrial export machine was fuelled by cheap energy from Russia – and that fuel could soon run dry, as Wolfgang Münchau wrote in last week’s magazine. For most of the post-war era, Germany has prided itself on very low inflation, a stable currency, and a huge trade surplus. Right now, it has a very Italian or Greek mix of 8 per cent inflation, a crumbling currency, and a rising trade deficit. Many other countries are used to that, but for Germans it will come as a shock.

Sounds about right imho