Germany records first monthly trade deficit since 1991 as inflation soars

Re:Germany records first monthly trade deficit since 1991 as... by remarkEon on Tuesday July 05, 2022 @03:35AM (#31985420)

>Because Germany has renounced part of its independence and sovereignty by joining the EU, so now it has to do the patriotic thing and think of that larger collective.

Is this enumerated in a treaty? Which law says this?

>As a point of comparison, should New York do what is best for New York, or what is best for the country? At least sometimes, we expect New York to sacrifice its own interests and do the patriotic thing for the whole country.

I live in the United States and I have never, ever, heard of this question being asked. Which thing is New York sacrificing for the rest of the United States?

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Re:Germany records first monthly trade deficit since 1991 as... by Aeolos on Tuesday July 05, 2022 @07:58AM (#31987131)

Yes, there is a maximum allowed limit in the Maastricht treaty. Germany has been systematically breaking the rules.

https://www.intereconomics.eu/contents/year/2018/number/3/ar...

"The rules established under the EU’s macroeconomic imbalance procedure (MIP)define a ceiling for current account surpluses of six per cent of GDP and stipulate that the three-year average for a country’s current account surplus should not exceed this ceiling.2 However, Germany has been running surpluses in excess of this figure for many years. Its most recent three-year average is eight per cent of GDP, while the 2016 figure was even higher, at 8.5%."

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