Now Even Germany Is Breaching The Euro Zone Deficit Limits

angela merkel

Photo: AP

Germany has become just the latest in a string of Euro zone members to break the 3% of GDP budget deficit limit in the latest sign that economic conditions are continuing to worsen for Europe.The country reported its budget deficit as a percentage of GDP of 3.3% for 2009, .3% above the allowed limit, according to Der Spiegel.

The deficit is likely build up over the first few months of 2010, as a particularly difficult winter has slowed economic production in Central Europe.

But after that German exports will likely take advantage of a weakening Euro, due to the soaring debt difficulties of other Euro zone members like Greece and Spain, and show signs of growth later this year, according to Der Spiegel.

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