If the banks across the euro area are essentially holding the debts of all countries in a risk-adjusted way, then in net terms there may be very little difference for the debt issuers. Their debts are just differently shared. In Germany and outside there is a huge discussion about the “schwarze Null”.
There are some economists and politicians that even think that the government should change the constitution, and the famous debt brake of 0.35%, to give it more margin to act when the economy goes bad. Do you agree? The issue is more general, because Germany is not the only low-debt country. In general terms, it’s an interesting economic question.