``"We're seeing a gradual reversal of the reforms that made Germany competitive," said Christian Schulz, from Berenberg Bank. "This won't be noticeable as long as Germany is in an upswing. It will hit in the next downturn."... "The agreement [also] does not contain anything that would solve the European debt crisis, re-ignite growth in the euro periphery, or dampen the disastrous impact of austerity," said Sebastian Dullien from the European Council on Foreign Relations in Berlin.''

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