EC criticizes for achieving excellent results in the economy

The European Commission (EC) has just acknowledged that achieving the most desirable state in international trade relations, ie. High surplus in foreign trade (exports exceed imports), it is not a good thing. The Commission sent a special criticism in the direction of Germany, which in 2016 took advantage in 252.9 billion of exports over imports.

Achieving surplus in foreign trade is one of the foundations of prosperity and stable economic growth. Exporting countries beyond its borders more goods and services are generally wealthier than those that have to import more, and the foreign trade balance are negative. The German Statistical Office reported a few days ago, in 2016. Our western neighbor exported goods worth 1 trillion 207.5 billion, while the value of imports amounted to 954.6 billion euros. This means that the foreign trade balance was definitely positive and amounted to 252.9 billion euros. According to the spokeswoman for the European Commission, achieving such an excess leads to “economic imbalances”.

Really, long time I didntt hear equally absurd position. It is hoped that the European Commission will change the approach and instead of thinking about the race to the bottom, start to think about European growth.