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Germany is also doing well with a devalued currency. If Germany still had the Mark, instead of the Euro (which is being devalued by all these crisies) it would be higher than the Swiss Franc right now.

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By which measure is Germany doing well ? Its gdp increase has been anemic for years, and is for example not significantly different from France, which is rarely given as an example of growth rate those days: http://www.google.com/publicdata?ds=wb-wdi&met_y=ny_gdp_... (the numbers stop around 2009 unfortunately, but the effectively devaluation policy of Germany started with Schroeder coming in power long before the crisis).

What is true is that Germany has put in place a devaluation strategy (by reducing wages instead of devaluating its money), but this has been a catastrophy for Europe as a whole. "Real" gdp growth comes from increase of productivity: devaluation helps hiding this for some time, but not that long.

The unemployment level in Germany is the lowest it has been since Germany was unified. That is definitely a sign of doing something well.

It's only a good sign if the government is not a big employer (directly or indirectly though subsidies, trade barriers, etc). I don't know enough about the German economy to know if that's the case here.

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