The U.S. and its allies accused Russia of trampling on international law by moving to annex Ukraine’s Crimea region, saying the Kremlin will face stiffer sanctions unless it pulls back troops and enters talks.
German exports may reach their pre- crisis level by the end of next year as demand from emerging markets including China buoys growth in the face of a sputtering U.S. economy, the head of Germany’s export group said.
Germany’s export-driven economic expansion will slow in 2011 as foreign sales cool and government support programs expire, Anton Boerner , head of the BGA wholesale and export federation, told Bild newspaper.
Germany’s export-driven economy depends on a stable euro and governments are failing to tackle the shared currency’s fundamental problems, said Anton Boerner , head of Germany’s BDA exporters association.
Trade sanctions against Libya should be avoided because they may weaken the wrong people and take too long to have an effect, Anton Boerner , head of the Berlin-based BGA foreign trade lobby, told Handelsblatt .
German exports will rise at the fastest pace in a decade this year and exceed the 1 trillion- euro ($1.4 trillion) level for the first time in 2011, fueled by demand for cars and machinery from outside Europe, the BGA federation said.
German Chancellor Angela Merkel’s government shouldn’t keep the euro area intact at any price if other countries balk at tough economic revamping, Anton Boerner, the head of the country’s BGA exporters’ lobby, was quoted as saying by Handelsblatt.