The German trade balance scares Europe. Indeed, after the US government and the IMF, the president of the European Central Bank Mario Draghi also expressed his perplexity about the continued growth of German exports (+1,7% in September), which brings the country's trade surplus to record share of 20,4 billion euros.
The fear is that Germany's dependence on exports could hinder the economic recovery of the entire Eurozone. “To repair broken political systems – Draghi said – there is nothing monetary policy can do”.
