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Well, either Germany keeps its surplus and the appreciation will continue, or it does not and it does not.

Arguing that DM appreciation would not affect the surplus, or indeed increase it, implies that the appreciation would continue absent a majorly active central bank policy to manipulate the exchange rate.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Thu Nov 28th, 2013 at 03:23:35 PM EST
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