Astrov, Vasily; Gligorov, Vladimir; Havlik, Peter; … - Wiener Institut für Internationale … - 2010
balances are the other side of the ECB single monetary policy. Germany has been running increasing external surpluses; its … currencies and floating exchange rate regimes. The Stability and Growth Pact is also in need of modification. The 3% fiscal … recovery in global commodity prices (especially for oil and steel). The Central European new EU member states have improved …