This factor also partly explains Germany's impatience with Italy.

BBC: Italian voters declare opposition to austerity

It explains Germany's insistence on government spending cuts for all - including itself - even though Keynesian economists say this is a sure-fire way of pushing the entire eurozone economy into a dangerous downward spiral.

BBC: Will the European Central Bank save the eurozone?

That, in large part, explains why Germany is now growing so much faster than the UK, after a similarly deep recession.

BBC: Eurozone growth: Comparing the UK with Europe

Media reports included this quote, which explains the leverage that Germany can legally use.

FORBES: While Europe Slides, Germany Plays Hardball On Financial Transaction Tax

The presumption that what is good for exports is good for the economy partly explains why consumer spending in Germany has historically been weak.

ECONOMIST: Rebalancing the world economy: Germany

Germany's greater dependence on exports of capital goods partly explains why it has been hit harder than other euro-area economies.

ECONOMIST: Economics focus