. Middle-income German workers could be paid more. They could use those higher salaries to consume more, whether German-made widgets, vacations in Greece or Spanish wine. That would mean lower trade surpluses for Germany, lower trade deficits for Southern Europe, and less German savings being recycled into Greek or Spanish debt. Higher incomes for working-class Germans would mean a more prosperous, financially stable Europe — and it wouldn’t be too shabby for German workers, either. Altogether, that would be positively wunderbar.
Posted on: Wed, 23 Apr 2014 16:56:04 +0000