The state budget crisis in the Eurozone has raised the issue of international trade imbalances prevailing in Europe. Whereas Germany holds a strong trade surplus other neighbouring countries show a deep trade deficit. The result is that some economies in Europe have built-up high debts in order...

The state budget crisis in the Eurozone has raised the issue of international trade imbalances prevailing in Europe. Whereas Germany holds a strong trade surplus other neighbouring countries show a deep trade deficit. The result is that some economies in Europe have built-up high debts in order...