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Currency Manipulator? Will the administration call for Germany’s exit from the euro?

Jeromin Zettelmeyer, senior fellow at PIIE, is a former director-general for economic policy at the German Federal Ministry for Economic Affairs and Energy.

The United States has complained about the German current account surplus for years, and so has the European Commission.

The result of these complaints has been a set of policy recommendations directed at Germany

Yet, the German government has refused to implement them, 

partly because of the Ministry of Finance’s obsession with balanced budgets, 

and partly because these reforms are politically difficult

If the Trump administration were to throw its political and economic weight behind these reforms, it would be good for Germany, Europe, and the United States.

Jeromin Zettelmeyer (PIIE)February 1, 2017

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