BERLIN (MNI) – Germany will not be affected markedly by the
Japanese catastrophe, Hans-Werner Sinn, the president of Germany’s Ifo
economic research institute, said Thursday.
“The trade volume between Germany and Japan is insignificant,” Sinn
told reporters here, noting that Japan is rather a competitor of Germany
on export markets than a trade partner.
“If your competitor has problems you usually do not say that you
will get problems,” he remarked.
German Chancellor Angela Merkel said earlier on Thursday she did
not expect the global economy will be seriously affected by the Japanese
catastrophe.
Commenting on the Eurozone debt crisis, Sinn said the Ifo institute
is worried “that too much aid funds are being provided.” In the end,
this could extend the current account imbalances in the Eurozone, he
warned.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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