The reason for economic growth in Germany and the crisis in parts of Europe can easily be found in the first graph: http://www.voxeu.org/index.php?q=node/7536

The reason for economic growth in Germany and the crisis in parts of Europe can easily be found in the first graph: http://www.voxeu.org/index.php?q=node/7536 http://www.voxeu.org/index.php?q=node/7536 (Google unit labor costs for more sources)