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Germany in Decline

Last October, after many special issues on the structural crisis of German economy, Der Spiegel, the undisputed bible of the social-democratic intelligentsia, including Chancellor Gerhard Schröder, came up with a shocking cover: against an institutional purple red background, the historical characters of the heading were reused to spell out an eight-letter word: Reformen. In other words, there was no way out—either the system reforms or it will be the end. The magazine has been almost the only one to have conducted for years a steady campaign for changes: it has analyzed and explained the need for structural reforms both to...