SIENA (Reuters) – The European countries that recorded a current account surplus, not just those in deficit, should rebalance their external accounts.
This was stated by the Minister of Economy, Pier Carlo Padoan, renewing his request to Germany because they spend more stimulating domestic demand and making its exports less competitive.
“Adopt a collective approach means that everyone in the adjustment must take into account both sides of the coin: both those who have and those who have surplus deficit, so that eventually the collective outcome is better for everyone,” Padoan said opening the XXII Congress of Pontignano.
“For many countries the economic data is still disappointing and suggest that we are still at risk of taking the wrong road, as deflation.’s Why we need to take more collective approaches, otherwise we will have growing tensions between individual attitudes and collective institutions that are increasingly seen as a hindrance. “
Padoan invites you to take note that “today in Europe, all countries must forge ahead with structural reforms. Some think he’s done everything, to be at the end of the path. I do not agree with this point of view, they all have move forward. “
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