An insight into the current poor state of the German economy, which accounts for one-third of the whole of the EU economy, is provided by newly released survey findings from the German chamber of commerce.

The survey found that 40% of the chamber’s members were either "currently and in earnest checking" the logistics of leaving the country or had already decided to do so. Swingeing tax increases, labour unrest and above all, high wage costs were blamed for the disillusionment. Since September 2002, when the social democratic administration was re-elected for another four year term, an estimated Eur27 billion of German capital has been transferred to Swiss banks.

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