spending, Germany is urged to reduce its current account surplus by increasing wages to forestall a new build-up of …

(analogous to Germany today).However Bretton Woods is very different from the Eurozone in many dimensions. An even better analogy …An analogy has been made between the collapse of the Bretton Woods system in 1971 and the recent Eurozone crisis. The … liabilities) and Germany (a surplus country) with large claims is seen as similar to the rising and persistent balance of payments …

An analogy has been made between the collapse of the Bretton Woods system in 1971 and the recent Eurozone crisis. The … liabilities) and Germany (a surplus country) with large claims is seen as similar to the rising and persistent balance of payments …However Bretton Woods is very different from the Eurozone in many dimensions. An even better analogy than BWS is a …