This is CBSI and we're Lange on Bachelor of Justice of Sternburg, who's in London for

the Wall Street Journal editorial board.

He's a member, he also writes political economics and he has great facility with the German

language and travels in Germany when he can to the historical parts and to the economic

parts.

Right now, it's the economic parts that are in question because the word recession turns

up in a Roger's headline.

An economy entered recession as inflation hurt consumers.

Gross domestic product fell by 0.3% of the first quarter of the year writes Reuters when

adjusted for price and calendar effects.

A second estimate from the statistics office showed on Thursday this follows a decline of

0.5% in the fourth quarter of 22.

What meaning does this have, Joe, that Germany's in recession?

We're still waiting for ours and I believe the UK thinks it can avoid it.

Well, this is a pretty serious development for Europe for a couple of reasons.

I mean, Germany is the Eurozone's largest economy and for a long time, it also has been

one of the healthier economies, particularly because it has such a vibrant industrial base.

And so it's a good, it's a bad sign.

The Germany now appears to be tipping into a recession and I think there are a couple

of reasons for that.

One is the combination of higher inflation, but also somewhat rising interest rates from

European Central Banker for the past few months.

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