The German export successes are not the result of some sort of currency manipulation, but of the increased competitiveness of companies. The American growth model, on the other hand, is in a deep crisis.
Wolfgang SchaubleGermany has always stood for an E.U. of the 27 countries. But in light of Britain's continued resistance to further integration steps, as we saw with the fiscal pact, there are limits to my optimism in this regard. It's quite possible that we will have to create the new institutions for the euro zone first.
Wolfgang Schauble