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Draghi is right, obviously
Euro area's post COVID malaise is tied to this -- take out (tax avoidance inflated) pharma and Europe's export surplus has disappeared.
Solution is self help
11.8. klo 15.52
Draghi: Europe has relied excessively on foreign demand to fuel growth, keeping domestic demand subdued via low wage growth/tight fiscal policy during 2010s. US seemingly unwilling to buy European export goods; China’s import growth slowing; Europe must refocus on domestic growth
My own take, from earlier this year
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