Lehman Brothers and Germany: An Opera in Two Acts
Repercussions of the 2008 financial crisis are still being felt today.
By George Friedman
Yesterday was the eighth anniversary of the collapse of Lehman Brothers. Also yesterday, we learned that eurozone exports to the rest of the world fell by 10 percent in July compared to the same time last year, days after it emerged that German exports that month fell by 10 percent as well. The two events are intimately linked and in many ways the decline in German exports is more significant and ominous than the collapse of Lehman Brothers.