Originally posted by scooterscot
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Reply to: Export machine reawakens
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Previously on "Export machine reawakens"
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Originally posted by oracleslave View PostHow much of this is at the expense of their fellow euro Europeans? It's all good and well Germany having a massive trade surplus but not much use of it is counterbalanced by huge deficits in Greece, Italy, Portugal and Spain. What happens when no-one wants their exports?
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Originally posted by scooterscot View PostBBC News - European interest rates: A tale of two cities
But I already pay less tax on my earnings than I would do if I earning the same income in the UK!
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http://www.bbc.co.uk/news/business-14068830
In London, the Bank of England left interest rates unchanged at 0.5%, an historic low that it has held for well over two years. That is despite the fact that inflation in the UK is running at more than double the Bank of England's target and could rise further.
In Frankfurt, the European Central Bank increased interest rates for the second time since April, to 1.5%, as it worried that inflation, at just 2.7%, was well above target and may become established in the eurozone.
The reason for this apparent contradiction in the actions of those most conservative and uniform of people, central bankers, is quite easy to explain though.
Yesterday, the German government published its draft budget, which showed that unemployment had fallen so far and tax receipts risen so fast that it will pay off its debts even faster than previously hoped - by another 4bn euros ($5.7bn; £3.6bn) next year alone, and it might even be able to afford some tax cuts in the near future.But I already pay less tax on my earnings than I would do if I earning the same income in the UK!
Last edited by scooterscot; 9 July 2011, 21:42.
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Export machine reawakens
Export machine reawakens - The Local
Germany's export machine geared up in May, expanding by 4.3 percent to nearly offset a decline in April, data from the national statistics office showed on Friday.
The provisional gain in May left Germany, Europe's biggest economy and the world's second biggest exporting nation after China, with a seasonally-adjusted trade surplus of €12.8 billion ($18.4 billion), the Destatis office said.Tags: None
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