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in particular Migeru's very detailed description of the imbalances

Can you provide a link to it?

By the way, you are reading the book in French or English?

Point n'est besoin d'espérer pour entreprendre, ni de réussir pour persévérer. - Charles le Téméraire

by marco on Tue Apr 22nd, 2014 at 09:03:46 PM EST
I am reading in French.

But, alas, I cannot provide a link to Migeru's diaries right now, though I could search through his production at some point. He showed that a 6% trade surplus appeared to be a stable policy target, not at all something that was likely to disappear in the near future.

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

by Cyrille (cyrillev domain yahoo.fr) on Wed Apr 23rd, 2014 at 02:06:13 AM EST
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In fact the German current account surplus increased to 7% even after the European Commission put the "macroeconomic imbalances" threshold at 6% so as not to bother Germany.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Wed Apr 23rd, 2014 at 04:30:54 AM EST
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The Court Astrologer: The Eurozone's giant sucking sound (2013/11/04)

See also my twitpic for more Eurostat sector balance charts.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Wed Apr 23rd, 2014 at 04:10:09 AM EST
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