Fiscal Policy
Does Europe Really Need Fiscal And Political Union?
by Dani Rodrik
on 8 January 2018
Greece’s combative former finance minister, Yanis Varoufakis, and his nemesis, former German finance minister Wolfgang Schäuble, were at...
The danger of Germany’s current account surpluses
Through the prism of the trade balance, the current account surplus can be viewed as a symptom of Germany’s economic success. German exports increased from 30% of GDP in 2000 to 47% in 2015. But with imports at merely 39% of GDP, this implies that Germany is providing capital to the rest of the world at a very high rate. Indeed, German savings have