How to Reduce Germany’s Surplus
It stands to reason that Germany cannot simultaneously reduce its current-account surplus and continue to extend loans to other countries that have run deficits, and failed to maintain fiscal discipline. If all parties involved could reach this basic understanding, that alone would be a major step in the right direction.
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MUNICH – The Economist was right when it recently reported that Germany’s current-account surplus is too high. But why is the German surplus too high? Some say that Germany has a high export volume because it manufactures high-quality products, while others argue that Germany imports too little, because its wages are too low.