63 sats \ 1 reply \ @wingalt 30 Jun \ parent \ on: Germany's Economic Crisis Deepens: Unemployment on the Rise econ
Germany used to subsidise the southern PIGS states, who is gonna pick up the tab if Germany and France are in trouble?
but you must not forget that with the introduction of the euro and the establishment of a low-wage labor market segment, Germany has run a neo-mercantilist model that has generated a huge trade surplus. the euro was at least 25% undervalued compared to D-Mark until today and that has made exporters rich.
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