Weidmann wearing his Bundesbank hat today.
- Weidmann says German current account surpluses are 'sensible'
- EU handling of French deficits 'problematic'
Bernanke wrote about Germany's unsustainable current account surplus in his blog on April 3. Weidmann's response:
- "Of course it is not sensible to produce more than we consume over the long term. But due to the impending demographic transformation, at the moment it is indeed very sensible to create external savings"
- "As age advances, we will consume more, meaning that saving now will be followed by dis-saving in the future"
