(Photo by Kirill KUDRYAVTSEV / AFP) (Photo by KIRILL KUDRYAVTSEV/AFP via Getty Images) Kirill Kudryavtsev | Afp | Getty ImagesGermany is not the sick man of Europe, Bundesbank President Joachim Nagel told CNBC on Wednesday, while acknowledging that growth is "not good for this year."
Speaking from the IMF World Bank annual meeting in Marrakech, Nagel said we shouldn't compare Germany's current economic situation with the period when it was last described as "the sick man."
"It's a completely different, different situation," Nagel said.
"I believe there is that understanding that we need to do something, but we are not the sick man of Europe," he added.
Debate has sparked over whether Germany should once more be described as the "sick man," after Europe's largest economy was predicted to be the only major European economy to contract in 2023.
Persons:
Kirill KUDRYAVTSEV, KIRILL KUDRYAVTSEV, Kirill Kudryavtsev, Joachim Nagel, Nagel, " Nagel
Organizations:
Getty, Afp, CNBC, IMF, Bank, Analysts, Monetary Fund
Locations:
Frankfurt, Germany, AFP, Europe, Marrakech