German Finance Minister Wolfgang Schäuble must have lost count long ago of all the wonderful schemes the French have devised for spending Germany’s money, whether from Paris itself, or from the EU and IMF, where the French genius has always exercised an influence far beyond the country’s political clout. He will also be long used to U.S. calls for Germany to boost its domestic demand and reduce its current account surpluses, a call that has never faltered despite the evidence of the 1990s, when a series of German current-account deficits did nothing to stop the U.S.’s long-term decline in international competitiveness.
— Euro Zone’s Most Dangerous Delusion - WSJ.com
Short URL for this post: http://tmblr.co/ZbwhbyA3mTGB
