The mark may look strong today, but the German economy is teetering on the edge of a precipice that is likely to see the value of the talisman currency tumbling on the exchanges within weeks: latest sign of the deteriorating times in Germany is that Ing C Olivetti & Co SpA plans to close the core Nuremberg factory of its Triumph-Adler AG unit at the cost of 1,000 jobs, the city’s mayor says; Heide Wichmann, chairman of the company’s workers’ council said Triumph-Adler could cut more than 300 jobs in Frankfurt as well; the firm declined comment on plans for job cuts.
