52024
Renzi Lashes Out at German Trade Surplus
World Economy

Renzi Lashes Out at German Trade Surplus

Italy Prime Minister Matteo Renzi has urged Germany to do its homework and start reducing what he calls its excessive trade surplus. He suggested it was at least partly behind the problems the Italian economy was facing, DW reported. Answering questions about Italy’s controversial 2017 budget law on the sidelines of an EU meeting in Brussels, Renzi said Germany had many problems, including a large trade surplus which he said violated European Union fiscal rules. “I think that Germany’s balance sheet is problematic, starting from a trade surplus, which does not respect our rules, and I hope, think and expect that our German friends can finally proceed with rebalancing this,” Renzi said. Observers on the ground saw his attack as an attempt to deflect questions on Italy’s own budget after his government presented a 2017 draft foreseeing higher deficits and debt. Under the plan, the budget is to widen next year’s fiscal deficit target to 2.3% of GDP, up from the 1.8% goal that the government had originally pledged.

 

Short URL : https://goo.gl/QX0jpc
  1. https://goo.gl/sUK1ZF
  • https://goo.gl/3F3yg1
  • https://goo.gl/GJhYAO
  • https://goo.gl/BkhQHb
  • https://goo.gl/wUpB2O

You can also read ...

Saudi Arabia Bleeds as Capital Flight Continues
As Saudi Arabia raises the stakes in its dispute with Canada...
Experts Say China Economy Manageable
Recent external pressures, a general global trade malaise...
Europe Should Resist Illegal US Penalties
European countries should take effective steps to counter US...
Qatar Pledges $15b Investment :      Turkish Lira Weakens 6% on Threat of More US Sanctions
Turkey’s battered lira weakened more than 6% against the...
 Final Nail in Abraaj Coffin
The Abraaj Group has been put through the ringer in past...
Australia Drought Could Cost $12 Billion
The Reserve Bank of Australia and a new report have warned of...
Indonesia Sets Moderate Growth Goals
Amid rising external pressures, Indonesia’s economy is...
 Crypto Scams on the Rise in UK
Crypto currency scams are using images of celebrities and...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus