Maybe. But Germany wasn't in such great shape under Schröder even with the Euro.
That currency, even born as a fiat currency, was designed with the German bloc in mind, and was detrimental to Club Med and the British sphere.
If somebody has to be the sick man, then sure, somebody else became the sick man.
But Germany's always had a strong manufacturing sector, and that counts for a lot.
They kept making things and improved their productivity, when other countries were pursuing financial illusions and building fanciful sand castles or houses of cards.
They deserve some credit for that.
Not only the wealth, but the independence and security of a country, appear to be materially connected with the prosperity of manufactures. Every nation, with a view to those great objects, ought to endeavor to possess within itself all the essentials of national supply. These comprise the means of subsistence, habitation, clothing and defense. …Notwithstanding, even with a robust manufacturing sector, Germany’s recovery was a bit too rapid; not even the USA, when manufacturing was over 50 percent of the total economy, could do that.