As understandable as the criticism directed at interest rate policy may seem from the perspective of German credit institutions, there’s a risk they might overlook the bigger economic picture. I say that partly for historical reasons. Interest rate levels in Germany have generally been on the wane for more than 30 years now, notably on account of demographic and macroeconomic factors.
The platinum group metals accounted for about 8 per cent of our total merchandise exports in 2012 and almost 9 per cent in 2013, so the impact of a total cessation of exports by the three affected companies is very clear. A number of looming strikes in other sectors also threaten the growth prospects of the economy.