Germany Under Renewed EU Pressure to Lift Domestic Demand
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Germany came under renewed pressure from the European Union to boost domestic spending as the EU’s top economy official said higher German demand would help temper the euro’s strength and reiterated a threat to open an in-depth probe of the country’s trade surplus.
The German current-account surplus, at 7 percent of gross domestic product, is the second-highest in the euro area, and EU Economic and Monetary Affairs Commissioner Olli Rehn said an increase in the nation’s domestic demand would bring the balance down and help struggling EU nations boost their exports.