BERLIN | By Alberto Lozano | It’s not all about the deficit. If the eurozone wants to achieve the goal of sustainable growth, Germany also needs to shorten its chronic current account surplus, the world’s largest, which has led the country to accumulate capitals abroad amounting 100% of its GDP. Although this means dismissing one its economic miracle recipes -wage moderation-, Merkel will increase public workers’ salaries by 3% this year, +3X inflation.
current account surplus
BARCELONA | By CaixaBank research team | Some EU countries have a current account surplus that is larger than the one allowed by the European Commission and, if not corrected, they might finally be asked to take measures to boost domestic demand.
The EU27 external current account recorded a surplus of €13.1 billion in the fourth quarter of 2011, compared with a deficit of €14.5 billion in the fourth quarter of 2010. This is the first current account surplus recorded for the EU27 since the third quarter of 2002, Eurostat said in its Wednesday’s data release. In the fourth quarter of 2011, compared with the fourth quarter of 2010, there was a fall in…