From a general point of view, it was the structural reforms I mentioned before that prepared the ground for the strong recovery following the crisis. Nevertheless, the distinctive pattern of a severe drop and a rapid recovery highlights a specific feature of the German economy: its pronounced export orientation. When the global economy faltered in 2009, Germany was hit far worse than other countries.
A surplus of more than 8% of GDP, such as we are currently seeing in Germany, is an economic challenge, too.