The weak euro will come back to haunt Germany – MarketWatch

Germany’s net foreign assets of €1 trillion are actually far less than the cumulative total of German current-account surpluses over the past 15 years — because foreign debtors will never repay the full sum that they owe Germany, and the amounts owed have already been lowered through debt restructurings and valuation changes.

It’s time that Germany recognizes that building up ever higher net foreign assets is a loser’s game. However, as long as QE in Europe persists in depressing the euro to levels that exacerbate German economic imbalances, the game will continue — to the overall detriment of the international economy.

via The weak euro will come back to haunt Germany – MarketWatch.

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