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Gonna pile on here.

Germany made the euro area's 11-12 slump worse by doing its own (unnecessary) fiscal consolidation. That made life more difficult for its partners, not easier -- as the entire block lacked demand.

Here is a chart -- Germany made a fairly substantially direct contribution to the euro area's fiscal consolidation in 11 and 12, and didn't help in 13 either.
One thing about German slowdown: the fiscal policy that is right for Germany now is also the fiscal policy that is right for the euro area ...

Coordination should be a bit easier (in theory)

An old blog that is relevant:

cfr.org/blog/eurozones…
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