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Yes, and thus at some level, is unsustainable. ie, There is a point at which they could be running all the surplus they could wish for against the rest of the E
by DisjointedHunt 4y ago
Yes, and thus at some level, is unsustainable. ie, There is a point at which they could be running all the surplus they could wish for against the rest of the EU, but the cost of those surpluses offsets any gains to economic growth.
- imtringued 4y ago> but the cost of those surpluses offsets any gains to economic growth. In the export destinations like Greece. For Germans it means supressed wages because they have to compete against Greek wages which means Germany has to sacrifice its productivity gains to provide low priced goods, effectively giving those productivity gains away for free the moment the export destination country predictably must go bankrupt.