While the U.S. markets and exchange traded funds (ETFs) continue to see ups and downs from the widening credit crunch, some countries seem to be experiencing less damage. One of those countries is Germany. Researchers say that German economic growth shows little sign of being directly hurt by the credit crisis, according to AFX News for Forbes. Loans available to German companies are operating as normal; however, the turbulent U.S. markets could hurt German exporters that depend on the U.S. for sales. If the German economy prospers despite the global credit problems, its ETF iShares MSCI Germany Index (EWG) should benefit as well. Although EWG has been down for the last couple of weeks, currently, it is up 17.7% year-to-date.


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