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The European crisis is giving rise to highly controversial statements on the role of Germany. The paperhighlights Germany's role as the single most important problem maker, rather than problemtaker, in the course of the current revival of neoliberal economic policy reforms in Europe.Major roots of the deepening imbalances in the Eurozone are ascribed to a reshaped Germanmodel of capitalism which is analysed as a hybrid of surviving powerful features of 'Rhenish'capitalism and neoliberaldoi:10.32387/prokla.v42i166.15 fatcat:zlqfu4nkc5a4lkakqx7a5pjveu