8 Jan 2014
Flash: US Treasury Secretary warns against German surplus - BBH
FXstreet.com (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that US Treasury Secretary Lew is in Germany today apparently pressing the international case against the German external surpluses.
Key Quotes
“Germany's external surplus is the largest in the world, as a percentage of GDP. Today Germany released its November figures.”
“The trade surplus edged up to EUR18.1 bln from EUR17.9 bln, on the back of a 0.3% increase in exports and a 1.1% decline in imports.”
“The current account surplus rose to EUR21.6 bln from EUR18.8 bln. In a country where "debt" and "guilt" are the same word, Lew's admonishments are likely to fall on deaf ears.”
Key Quotes
“Germany's external surplus is the largest in the world, as a percentage of GDP. Today Germany released its November figures.”
“The trade surplus edged up to EUR18.1 bln from EUR17.9 bln, on the back of a 0.3% increase in exports and a 1.1% decline in imports.”
“The current account surplus rose to EUR21.6 bln from EUR18.8 bln. In a country where "debt" and "guilt" are the same word, Lew's admonishments are likely to fall on deaf ears.”