Germany, Europe’s largest economy, hasn’t been active in taking a leadership role amid the region’s sovereign-debt crisis.

As Germany’s role in international discussions and international bodies is absent, the pull that the country once had is reduced. These roles are more important than ever in the course of globalization. “Germany,” says former Foreign Minister Joschka Fischer, “is failing as a leading power in Europe.” [Will Low Confidence Levels Affect German ETF?]

German Chancellor Angela Merkel is criticized for not placing a single German official in a top job in the European Union, the United Nations or global economic organizations, reports Speigel Staff.[Banking Sector Could Drag German ETF.]

The iShares MSCI Germany (NYSEArca: EWG) is in positive territory for 2011.

Renewed concerns over the sovereign debt in the Eurozone will be the big issue for the Germany ETF in the back half of the year.

iShares MSCI Germany

Tisha Guerrero contributed to this article.

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