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German wages started to decline in real time from 1993 or 1994. So ALG II, starting in 2005, can't really be the main cause. Perhaps more important, the low wage sector in Germany,  where ALG II probably had a influence is in the service sector. The Export sector tends to be manufacturing. So the whole chain of reasoning doesn't really works.

I will add that Germany and Greece are hardly the only trade partners of each other.

by IM on Sat Feb 18th, 2012 at 10:12:57 AM EST
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