The Macroeconomic Imbalance Procedure and Germany: When is a Current Account Surplus an ‘Imbalance’?
CEPS Policy Briefs No. 301
6 Pages Posted: 28 Nov 2013
Date Written: November 13, 2013
In this new Policy Brief, CEPS Director Daniel Gros argues that the 13 November announcement of the European Commission that Germany is running an excessive current account surplus appears to be much ado about little. All the Commission can, and will, do is to start an ‘in depth analysis’. This might lead to strong political reactions and an enormous echo in the media. But nothing of concrete substance is likely to follow.
Keywords: Germany, account surplus
Suggested Citation: Suggested Citation