Axel Weber, the president of the Bundesbank, on Wednesday attacked eurozone deficit countries in comments which underline why some believe he is the wrong candidate to succeed Jean-Claude Trichet at the helm of the European Central Bank (ECB).
"The large current account imbalances in Economic and Monetary Union (EMU) are mainly due to structural domestic imbalances in deficit countries ...they will have to align demand and potential output more closely and, at the same time, consolidate governme
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