apater wrote:Executive summary: (German) exports are cheaper than they have any right to be because their currency is cheaper than it is has any right to be.
http://www.bloomberg.com/news/2011-12-0 ... klein.html
I think your point is correct. However the other thing is that Germany continues to make things that other people want, and make things well. Greece, on the other hand, is one of my favourite places to visit in the world however other than some olive oil they aren't producing much. The skip on the currency - I am not sure is correct.