Berlin’s economy is now lagging behind Italy in terms of growth, despite the Mediterranean nation holding the second largest amount of debt in the entire eurozone.The damning figures from Eurostat come as gross domestic product (GDP) figures revealed Germany is on the brink of a recession after its economy was brought to its knees, shrinking by 0.1 percent in the second quarter.
The nightmare graph shows Italy growth rates in the second quarter of 2019 at 0.01 behind Spain, Belgium, France, Austria and the entire eurozone.
But Germany ranks at -0.1, according to the shock graph.
The news highlights how Germany has gone from being the powerhouse in the European economy to falling behind the likes of Italy, with critics signalling “the end of the golden decade” for Berlin.
EU chiefs have been locked in a bitter battle with Rome over their budget issues after its economy contracted by 0.2 percent in October to December of last year, following a decrease of 0.1 percent in July to September.
Germany's economic crisis: Merkel is under pressure as her nation faces economic woes (Image: GETTY )
Germany's economic crisis: Germany is lagging behind Germany (Image: EXPRESS/EUROSTAT)
Italy came to blows with the EU last year after the Italian Government submitted plans to exceed spending limitations imposed under EU budget regulations.
Debt-ridden Rome slipped into recession territory at the end of the last year after a second consecutive quarter of decline was recorded for the last three months of 2018.
After a lengthy row with EU chiefs in December, Italy agreed to lower its 2019 deficit target to 2.04 percent of GDP from an originally planned 2.4 percent.
Rome is expecting 0.2 percent GDP growth for this year, down for a previous projection made in December of 1.0 percent.
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