name: "Lied der Deutschen" (Song of the Germans)
lyrics/music: August Heinrich HOFFMANN VON FALLERSLEBE/Franz Joseph HAYDN
note: adopted 1922, restored 1990; the anthem, also known as "Deutschlandlied" (Song of Germany), was abolished in 1945 because of the Nazi's use of the first verse, specifically the phrase, "Deutschland, Deutschland uber alles" (Germany, Germany above all) to promote nationalism; since restoration in 1990, only the third verse is sung
Economy ::Germany
Economy - overview:
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. The modernization and integration of the eastern German economy - where unemployment can exceed 20% in some municipalities - continues to be a costly long-term process, with annual transfers from west to east amounting in 2008 alone to roughly $12 billion. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment, which in 2008 reached a new post-reunification low of 7.8%. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its healthy decrease in 2010. GDP contracted nearly 5% in 2009 but grew by 3.3% in 2010. Germany crept out of recession thanks largely to rebounding manufacturing orders and exports - primarily outside the Euro Zone - and relatively steady consumer demand. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2009 and to 3.6% in 2010. The EU has given Germany until 2013 to get its consolidated budget deficit below 3% of GDP. A new constitutional amendment likewise limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016.
GDP (purchasing power parity):
$2.951 trillion (2010 est.) country comparison to the world: 6 $2.857 trillion (2009 est.)
$2.998 trillion (2008 est.)
note: data are in 2010 US dollars