There is also a metaphysical reason why Germany is doing so well. This is the only country that is dedicated to making at least some kind of reparations for the damage it caused with its totalitarian past. Germans have taken a responsibility for the crimes of their progenitors and are expiating their collective guilt. The result can only be a healthier society that, of course, produces more.
Germans have sought out everybody whose labor was exploited by the Third Reich and is paying out reparations. Back in Ukraine, an illiterate Baba Motya whose apartment was across the landing from ours started receiving cheques from Germany back in 1990s. She had been forced to go to Germany to work on a farm for no pay during the WWII, and now Germans were trying to pay her for that work.
In the meanwhile, it took Spain forever to grant citizenship to the members of the International Brigades who had defended democracy in Spain in 1936-9. It isn’t like the country is so overpopulated that there won’t be any room for the few surviving brigadists (who are probably not planning to move in anyways). But even making this inexpensive gesture of recognition took a lot of effort.
And in my part of the world nobody is getting compensated or recognized in any form whatsoever.
This is why hopes are high for Germany’s future, not too low for Spain’s, and non-existent for us.

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