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Germans stay positive despite global crash

The Local · 13 Aug 2011, 13:07

Published: 13 Aug 2011 13:07 GMT+02:00

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"Fifty-three percent are mainly optimistic about the next 12 months, while only twelve percent have pronounced fears," writes Renate Köcher, head of the Allensbach Institute for Public Opinion Research, in Saturday's edition of financial weekly Wirtschaftswoche.

Köcher also says that as many as 43 percent of Germans expect an economic upswing in the next six months, while 33 percent expect an unchanged situation. Only 15 percent expect a downturn.

"The day-to-day experience of average citizens stands in complete contrast to the daily terrible news stories," she adds. While the general situation seems to be governed by uncertainty, most Germans seem to consider their own jobs safer than they did three or four years ago.

The current eurozone crisis doesn't seem to have affected German confidence in the euro very much either. Another survey, published this weekend in the Bild am Sonntag newspaper, found that 65 percent of Germans believe the European single currency will still exist in 2021.

Germans who live in the former East are more sceptical about the future of the euro. Forty-one percent of those believe the euro won't exist in ten years' time, an opinion shared by only 28 percent of western Germans.

Nevertheless, uncertainty does seem to be growing among Germans. A new survey by state broadcaster ZDF found that 17 percent fewer are confident about the economy than one month ago.

Story continues below…

DAPD/The Local/bk

The Local (news@thelocal.de)

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14:40 August 13, 2011 by Sastry.M
Good news to know that bitter German experiences of earlier decades have made better their 'Weltanschuung' more resilient to unfavorable changes and inculcated humility and forbearance with a realistic instead of speculative attitude.

In this world of Duality there is only one pair of polar opposites,viz., as +ve & -ve in two extremes. All transactions in physical world have to be carried out within the best averaged means of realistic analysis staking for manageable risks but always keeping for worst odds. However there is an imperative responsibility of the present to maintain wealth accumulated over the past in a rightful manner, spend judiciously to meet basic necessities maintaining it with present day efforts and keep a positive edge for future hope. Speculative mind cannot transcend physical realities of present day double entry book keeping in the hope of amassing futuristic wealth with wishful thinking. Debt,hence, is one letter short of the present 'debit' because "I" have loaned from the credit of my future which I know not presently but spent in vain gloried vanities of ever changing worldly enjoyments of today keeping debt as a b/f sorrow when future became the present.
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