ADAM TOOZE

@MESandbu So UK/US “dragged Germany along” which is source of frustration and criticism. It is the old “locomotive” question. @mhallerberg

@RajaKorman @pp0196 @Brad_Setser @naufalsanaullah @MESandbu Agreed: Italy is the acid test for future of Euro/EU at… https://t.co/m5lLgV9V2t

Can world absorb a German NIIP of 1.75trnEuro? Of course! As @MESandbu says FDI/equity best. Also spread globally!… https://t.co/o9yYNqgdp9

Q of why German dom investment is so low is more telling than why current account so large. On this agreement with… https://t.co/zUD1mG0Khu

nor am I the only one who likes your charts … @GeneralTheorist https://t.co/KuG4q4tyna

@Brad_Setser @RajaKorman @naufalsanaullah @MESandbu = perversity of Schaeuble’s fiscal policy from the capital acco… https://t.co/MO5FVCtClP

@GeneralTheorist @MESandbu hey @GeneralTheorist thank you for your excellent post! beautiful graphs …

@Brad_Setser @RajaKorman @naufalsanaullah @MESandbu Germans are Fr “good housekeeping seal of approval” in a world,… https://t.co/atZtxPU3Pe

@Brad_Setser @RajaKorman @naufalsanaullah @MESandbu Isn’t it rather that you need the Germans inside pissing out an… https://t.co/KWxiUuYnl3

@Brad_Setser @RajaKorman @naufalsanaullah @MESandbu I agree with Brad. French have a pretty sane view of the “benef… https://t.co/yBE9kV4Kva

@MESandbu Aren’t “gross” financing flows from France more stimulative of periph boom since not matched by export surp?

@MESandbu Didn’t flow of German net savings pretty much match the German trade surplus with periph? So not much net… https://t.co/hvCRcLt9vE

@Brad_Setser @MESandbu @Wolf_InTheWilds which is why it clearly needs to be centralized at Brussels level … and we know who vetoes that …

@MESandbu Not mine either and Im truly grateful for it!

If criterion is not “do no harm” but “leadership” for Keynesians question is: what “locomotive" AD impulse does Ger… https://t.co/wHKJDB7mXD

@MESandbu ? German domestic growth spilled over into periph EZ growth prior to 2007? you are losing me …

@RajaKorman @naufalsanaullah @Brad_Setser @MESandbu Yup … so Germany harping on about them basically sounds like a… https://t.co/YWup5HQjXP

@MESandbu Do we have any estimates of the size of spillover effects from Germany to rest of EU of the type that Ger… https://t.co/fC4phmQOgC

@MESandbu Point taken but lets put question in reverse: When was the last time Germany speeded anyone’s growth up?… https://t.co/4mKbuVJQ9b

@MESandbu yup. I take that point. The negative impact on Fr (in keynesian terms) came before crisis. But question i… https://t.co/xMmsQq9TgK

@MESandbu Assuming we do want to go with the Keynesian logic: US 2012-2014 is certainly not fully employed, nor is… https://t.co/gr2qCZ7lib

@MESandbu what I see is: steady increase in surplus with UK since 2008, increase v US 2012-2014, bounce back of sur… https://t.co/g5UgTiMuIB

@MESandbu Hi @MESandbu its a nice graph for which we are grateful but the stacks are always fiddly to read.

Persistent Franco-German trade imbalance in face of Fr unemp is underrated element of EZ malaise @MESandbu… https://t.co/H0ToMdemQ8

Eurozone country that absorbs largest % German trade surplus is France which is far from full employment @MESandbu… https://t.co/aTF6zIqluO

We critics of Germany need to sharpen our game says @MESandbu simple Keynesian story not enough. Agreed!… https://t.co/2AGbYVJIfO

Ger surplus rose sharply v. Europe and US 2013-2016 @MESandbu … not 5 years ago! https://t.co/BsAoODtoxh… https://t.co/ixCj4XPHeJ

Bhagwati: “TPP = golf club with requirement to attend a particular church” i.e. trade/inv PLUS containment of China… https://t.co/sag28TgSWd

72 of the 200 most internationalized universities in the world are in the UK, 16 in London, 27 in the US.… https://t.co/6wHtlDuqlk

Qatar produces 25 % of all helium. Current crisis sparks interest in giant Tanzanian reserve.… https://t.co/CnSbcEx1NP

@Brad_Setser German banks won’t lend. Ger exporters go on selling. Rest of EZ go on buying and paying the Germans i… https://t.co/r6h44DV19Z

@Brad_Setser TARGET2 also enables huge capital flight from peripheral banks TO Germany.