German capital was able to move just like any other capital. And I would assume that the capital in another country could possible be positive for that country current account.
Eastern Europeans working in Germany. OK, there were some restrictions but a LOT of stuff on the construction market (housing, streets) is done on the black market. What the net effect of that is, I don't know...
Because German monetary policy has a deflationary bias, and because German industrial policy is export-driven. The brainless should not be in banking -- Willem Buiter
