by divergent propensities to save. This does not only relate to public, but also to private savings. Accordingly, demands … savings potentials should be adequately exploited. -- non-governmental organizations ; foreign aid ; administrative costs …

public, but also to private savings. Accordingly, demands addressed to Germany and other countries for higher wage agreements … hand, in countries with current account deficits, existing savings potentials should be adequately exploited. …

capital in the past. The conclusion is that within EMU domestic saving and investment will be less correlated than they were …