Draghi points to savings glut in some eurozone countries
Germany has had 5% current account surplus for almost a decade, ECB president says
Germany and some other eurozone economies are contributing to a global "savings glut", the president of the European Central Bank (ECB) has warned.
The low interest rates prevailing in most advanced economies were caused by a "global excess of savings over profitable investment", Mario Draghi told an audience in Frankfurt on May 2. While "the role of Asian economies in this story has been well-documented", he said, the eurozone was "also a protagonist".
The eurozone as a whole has a current
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