The head of the German Institute for Economic Research (DIW), Marcel Fratzscher, has described Germany’s preparations for Donald Trump as “pitiful”. “I don’t see a strategy from the German government or the European Commission on how to react to this threat” Fratzscher told the ntv channel.
He lamented that Germany and Europe have been too focused on domestic issues, neglecting the need to develop a global strategy. “We’ve been in a state of complacency for at least half a year, and in the election campaign, it’s all about us. It’s not about how we want to position ourselves globally, how we can strengthen Europe” Fratzscher said.
The economist expressed concern about the widening divide in Europe, saying that Germany, due to its export-dependent economy, is particularly vulnerable to the impact of Trump’s policies. “I fear that Europe is letting itself be torn apart. We need a common approach in Europe, and that’s missing” he emphasized.
Fratzscher believes that Germany and Europe are poorly prepared for Trump’s second term, citing the lack of a unified strategy. “My hope is that Donald Trump won’t implement everything he threatens – in regards to Canada, the Panama Canal, Greenland, trade conflicts. That he finds a middle ground” he said.
The expert advised that Germany and Europe should be prepared for the economic conflicts that may arise, as the country would be heavily affected.