Germany is in a bad spot but all of the EU and UK are no better. They’ve had years of bad energy policy and a disastrous war. Their markets are no longer competitive with the rest of the world. Simply put, their products are too expensive. VW is moving production out of Germany and shutting factories. They will need to dramatically devalue the euro to compensate. However, the US also must devalue the dollar to make the debt nominally payable. A fight that the US will win. Next up is capital controls in the EU to stop the capital flight.