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The deal falls well short of the 4% limit on national trade deficits and surpluses proposed by US President Barack Obama, which was blocked by exporting countries China and Germany.

Hah, Bretton Woods all over again, with Chiana and Germany in the role of the US and Obama playing Keynes...

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010

by Migeru (migeru at eurotrib dot com) on Sat Nov 13th, 2010 at 04:28:18 AM EST
[ Parent ]
Of course, Germany is waging the exact same kind of currency war within the EU...

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010
by Migeru (migeru at eurotrib dot com) on Sat Nov 13th, 2010 at 04:29:31 AM EST
[ Parent ]

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