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

See all articles by Daniel Gros

Daniel Gros

Centre for European Policy Studies, Brussels; CESifo (Center for Economic Studies and Ifo Institute)

Matthias Busse

Centre for European Policy Studies (CEPS)

Date Written: November 13, 2013

Abstract

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

Gros, Daniel and Busse, Matthias, The Macroeconomic Imbalance Procedure and Germany: When is a Current Account Surplus an ‘Imbalance’? (November 13, 2013). CEPS Policy Briefs No. 301, Available at SSRN: https://ssrn.com/abstract=2360470

Daniel Gros (Contact Author)

Centre for European Policy Studies, Brussels ( email )

1 Place du Congres
B-1000 Brussels, 1000
Belgium

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

HOME PAGE: http://www.CESifo.de

Matthias Busse

Centre for European Policy Studies (CEPS) ( email )

1 Place du Congres, 1000
Brussels, 1000
Belgium

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