Interestingly enough, the text mentioned that during 2008-2009, Germany weathered the recession much better than did the U.S. In Germany, there was no “bubble” to burst, and furthermore, there wasn’t a dramatic change in mortgage cost considering Germany has always required 50% down on a property in order for an individual to obtain a loan.
Below is link I found for an article on how US intelligence agencies hacked the cell phone of German chancellor when Gerhard Schoder was leader! Very interesting.
http://www.theguardian.com/world/2014/feb/04/us-nsa-gerhard-schroeder-surveillance
