4 ms·
That's a very short view. Look back more. > The current surplus is not a feature of German productivity but the result of having an undervalued Euro and depres
by lispm 12y ago
That's a very short view. Look back more.
> The current surplus is not a feature of German productivity but the result of having an undervalued Euro and depressed domestic demand.
The Euro is not really undervalued. The current surplus is a feature of Germany's long term export oriented industry.
- the_why_of_y 12y agoThe Euro is the currency of a wide range of fiscally independent countries which have had very different economic developments during the time since they adopted the Euro; its value is perhaps an adequate average of those countries, but nevertheless it is at the same time under-valued in Germany as it is over-valued in Spain.
- lispm 12y ago> under-valued in Germany as it is over-valued in Spain. How can the Euro be 'under-valued' in Germany?