DEBORAH MARCHINI, CNN ANCHOR: In financial circles, you might ask the question of what happened to Germany? It used to be the economic engine of Europe, but things have changed. We get a peak look at the current issue of "Fortune" magazine with Janet Guyon, editor-at-large, who joins us in New York today. Hi.</s>JANET GUYON, "FORTUNE": Good morning.</s>MARCHINI: What happened to Germany?</s>GUYON: Well, it reunified and didn't do any of the structural reforms it should have done over the last decade. A lot of people talk about the 1990s for Germany as the lost decade, because they did not implement a lot of structural reforms. And we have a situation now with the slowdown in the U.S. economy that's ratcheting back to Germany. People are talking about 1.5 percent growth in Germany this year. That's down from 2 percent, 2.5 percent. That was the projection earlier this year. Unemployment is rising. Inflation is rising. So you know, the there was a mistake in the '90s, really.</s>MARCHINI: As part of the eurozone, does Germany have the latitude in monetary policy or elsewhere to do anything to fix this?</s>GUYON: Well, this is also an issue. It doesn't have that much latitude. The ECB has not lowered rates fast enough to spur growth, both in Germany and in the other continental European economies. So that is one of the issues here.</s>MARCHINI: Fascinating look at the magazine. We'll be talking with you again next Tuesday.</s>GUYON: That's right.</s>MARCHINI: Janet Guyon, thank you. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
'Fortune': Germany Wracked by Reunification, U.S. Market Downturns