“We need automation because we won’t have enough young people to handle the production. And yes, it’s true that jobs will be lost, but without automation and digitalisation we would not be able to feed a growing population, dress it, entertain it, provide health treatment etc.”
German trade surplus
There are those who believe, like Macron, that Germany’s 8.8% trade surplus is damaging the Eurozone economy. “4% could be justified; but not 8%”, says IMF head Christine Lagarde. The problem is not that Germany exports a lot, but that it imports very little.
“What is clear is that Greece cannot pay its debt and will never pay it. There needs to be an acquittance. And European legislation does not allow for waivering of debt. What they are going to do now, and it should have been done seven years ago, is to modify the conditions in such a way that the debt will be practically waivered,” says Spanish economist Fernando Eguidazu, as he leaves his Foreign Office post of Secretary of State for the European Union.