Policy change in Germany only when economy 'hits wall'

Germany is at risk of economic hubris, a top economist has said, noting that the country should not think it is invulnerable nor that EU membership makes it a victim.

In a new book – The Germany illusion – Marcel Fratzscher, president of the prestigious German Economic Research Institute (DIW), makes the case for a change in Berlin’s economic policy.

His book says that Germany sees itself as a “superstar” something he castigates as an illusion as the country would not have an econ...