The largest economy, not only in the European Union but in the whole of Europe, is Germany. It is the fourth largest economy in the world (or the fifth if measured on PPP - purchasing power parity) and is still growing - it increased by 3% last year and, unlike most countries in Europe, is expected to keep growing forward this year, though perhaps not as much.

Germany has been the richest country in Europe for some years, but this stands out more at the moment because it has managed to beat a lot of European trends. For instance, unemployment is rising in most countries, but in Germany it last year fell to its lowest level since reunification. Its exports are also rising at a time when many countries are struggling to keep theirs up.

There are reports that Germany may be facing a period of decline in the near future, but it is better placed to deal with this than most countries.