Germany and the crisis: steady as she goes?

There is no abstract, but this is a representative paragraph, from the introduction:

'This combination of relatively good economic performance and the potent symbolism of the phrase Modell Deutschland mask three key weaknesses at the heart of the German political economy. Each weakness is a consequence of the substantial neoliberalization that Germany has undergone from the 1990s onwards, a process which is rooted in the changing spatial constitution of German capital. They are: (i) an intensification of Germany’s dependence on exports; (ii) the imbrication of the financial sector with global and Eurozone crises; and (iii) a more volatile system of political representation. Although clearly not of the order witnessed in countries such as Greece and Spain, these manifestations of crisis indicate that the current period is potentially transformative for all of Europe, and not just for the so-called PIIGS.'