About Germany

GEOGRAPHY

Germany is situated in Central Europe and has borders with 9 countries. Northern Germany lies beside the North Sea and Baltic Sea, and in the south sits the mountain Alps.

Capital of Germany is Berlin (3,500 million population). The process of transferring the capital from Bonn into Berlin will take a few more years, thus some governmental offices still remain in Bonn.

The biggest cities are Hamburg (1,700 million), Munich (1,250 million), Cologne (966 thousand), Frankfurt and Main (619 thousand) etc. Germany is divided into 16 states (bundeslander).

Total area of the country - 357,021 sq.km.

Population - 82,64 millions (by 2007). Germany has the largest population among EU-members countries.

POLITICS

Germany is a federal parliamentary democratic republic. The head of State is a President which has only ceremonial duties. The Federal Chancellor is the head of Government, and is elected by the federal parliament. The Chancellor determines the composition of the government as well as directions of internal and external policies for the country.

Germany is a federal country where each state has its own legislative, executive and juridical power. Hence, Germany has two levels of policy decision making, namely local and federal.

Germany has been an EU member country since year 1957, and member of Euro zone since 1999. Germany is also a member of UN, NATO and other international organisations.

ECONOMY

Germany is one of the world's most advanced marker economies. It is the largest economy in Europe and the world's third largest economy in production industry. The country is well known for its high life standards and highly developed social security system. Germany plays a crucial role in decision making on EU issues. Germany is recognized as a highly scientific and technological country.

By 2007 German economy was growing for seven years consecutively. GDP growth in 2007 was 2.6%. Expert forecast minor deceleration of economic growth on the level of 1.8% in 2008, and 1.9% in 2009.

German currency is Euro.

German real estate market is the biggest market in Europe. Expert states that property market is underestimated in comparison to other European countries, in some cases prices are very low. Foreign investors showed a big interest in acquisition of real estate in Germany during 2004-2007, with a price range of 100 thousand Euro apartments to a 100 million Euros real estate and even more.