It’s time for Germany to look out for its neighbours

The contrast between Germany and its European neighbours is awkward, but a strong eurozone needs a strong Germany, writes Mohamed A El-Erian

ON A recent trip to Germany, I was struck by two distinct narratives.

One features a robust German economy with low unemployment, strong finances, and the right competitive position to exploit the most dynamic segments of global demand. The other describes an economy that is encumbered by neverending European debt crises whose perpetrators seek to shift their responsibility — and their financing needs — onto Germany’s pristine balance sheet.