Germany’s jaundiced eye on Obama

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“Simply put, export growth leads to job growth and economic growth,” President Barack Obama said last week as he set up an industry panel to help him achieve his ambitious target of doubling American exports over the next five years. “This isn’t just about where American jobs are today. This is where American jobs will be tomorrow.” With this sort of endorsement ringing in their ears, it’s no wonder that German policy-makers are not taking too seriously the president’s equal-and-opposite entreaties for the Germans to do more to stimulate domestic consumption and rein back on exports as the prime source of economic growth. French investigators are chasing tax dodgers with data allegedly obtained from the Swiss private-banking arm of HSBC by former employee Herve Falciani. An exclusive interview with Nice prosecutor Eric de Montgolfier. The Leitmotif in Berlin — and not just Berlin, judging by the U.S. president’s statement — is “It’s the exports, stupid.”

Full story: Germany’s jaundiced eye on Obama Marsh on Monday – MarketWatch