The Federal Statistical Office on Thursday said that Germany has recently confirmed its reports showcasing only 0.1% growth in its anemic growth estimate for the second quarter.

Germany and France have big hand in Europe's sovereign debt crisis because of the violation that they raised against the rules that were set during the creation of the euro even post facing larger-than-permitted budget deficits in the early 2000's, says Dutch Finance minister.

The eurozone economies have been facing variations as Germany was witnessing a growth at a rapid rate and the economies of Italy, Spain, Portugal and Greece have been in a huge clutter.

This uneven status of the economies was a huge trouble for European Central bank, as its Fiscal policies would initiate sluggish rise in interest rates. The fiscal policy for weak economies would result in purchase of government bonds that would develop enrage among the Germans against ECB for not acting appropriately.

German states witnessed a reduction in rate of inflation with the drop of food and energy prices in August.

In Bavaria, the rate of inflation reduced by 0.1%, from 2.3% to 2.2%. In North Rhine-Westphalia, it came down to 2.3% from 2.7%. Similarly, the rate saw a drop in the states like Brandenburg and Saxony.

In order to get some quick solutions for the raising monetary crises, Christine Lagarde, the European Union rebuffed International Monetary Fund Managing Director, has made an alarming call for the obligatory recapitalization procedures in all the country's bank branches.

All eyes seem to be on Germany as if now, as the euro zone crisis has gripped all the 17 members of the European nations. Germany had so far managed to remain competitive by trimming down the value of its currency and further, by adopting a subdued wage policy, but recently it has caught the attention of the European Central Bank (ECB).

Till the time investors attacked Italian and Spanish government bonds, things were fine with the Euro zone, but later, the yields on the bonds went so high that both the countries were on the brink of falling to a new low.

In response to series of objections raised by countries over the rescue packages for Greece and other eurozone countries, the Germany’s highest court has announced that appropriate decision would be taken next month on September 7.

It was reported that during the last hearing, Finance Minister Wolfgang Schaeuble remained defiant to believe that bailouts offered to cash-stricken countries under the EU were up against the German and European laws.

The main issue surrounds the initial Greek rescue of May 2010 and the wider Eurozone rescue fund allocated thereafter.

In a recent revelation, it has been reported that Germany has made a 2010 deficit of 3.3% against the 3% target set by the European Union. It has been widely known that Germany had been the leading contributor in stimulus programs so far, but this recent report has once again reaffirmed that Germany has the capacity to battle out financial constraints.

Confirm the news, the ministry said: "The positive development this year will continue until 2015, which will allow us to balance the accounts in 2014”.