Mr. Diekmann is now quoted extensively in this article. “A return to the Deutsche Mark would be irresponsible”, he says. “We have analyzed such a scenario in detail. Germany would fall into a deep depression; for some time the German GDP would decline; after 4-5 years, the total GDP decline could amount to about 25%”.
Now, by implication this could be interpreted as meaning that Germany owes its well-being to an important extent to the Euro. Wait, haven’t I heard that argument before? Yes, I have, but it came from the South and was contested by the North.