• Current account imbalances could be a threat over time to a stable global economy
  • German current account account surplus is not a result of fx intervention, reflects strong industry
  • We must urge countries with inflexible fx policies to make them more flexible
  • Euro is not a problem but rather financial policies, sovereign debt
  • Euro zone central bankers will fulfill our commitments
  • Delivering price stability is our job as central bankers and we will do it