ABSTRACT
This chapter explains Germany's current status as a beacon of stability and strong economic performance. It is a tricky balancing act, for the German political economy is clearly in better shape than many, especially in the Eurozone. Nevertheless, careful analysis reveals how the changing spatial constitution of German capital has had the following consequences. The dependence on exports for any kind of economic growth; the imbrication with financial crises at the global and European scales; and the more volatile system of political representation. This does not mean that Germany will inevitably plunge into systemic and transformative turmoil in the future, and nor, even if it does, would it be possible to guess when this would happen. But as things stand now, Germany's trajectory over the last two decades has left it with pathologies which are being neglected. Moreover, such neglect makes it increasingly difficult to deal with these pathologies should they become manifest in more visible and damaging ways.
