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Coronavirus and Merkel's quest for legacy speed up German rebalancing
By , BERLIN (Reuters) - A coronavirus-induced plunge in German exports and a fiscal U-turn by Chancellor Angela Merkel as she seeks to cement her place in history are accelerating a long demanded rebalancing of Europe’s largest economy.For years, Germany’s huge trade surpluses and its hesitancy to stimulate domestic demand with substantial infrastructure spending have frustrated international organizations and European allies who argue Berlin could do more at home to support growth elsewhere.The trade surplus has also been used by U.S. President Donald Trump to underline his America First...…By , BERLIN (Reuters) - A coronavirus-induced plunge in German exports and a fiscal U-turn by Chancellor Angela Merkel as she seeks to cement her place in history are accelerating a long demanded rebalancing of Europe’s largest economy.For years, Germany’s huge trade surpluses and its hesitancy to stimulate domestic demand with substantial infrastructure spending have frustrated international organizations and European allies who argue Berlin could do more at home to support growth elsewhere.The trade surplus has also been used by U.S. President Donald Trump to underline his America First...WW…
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