Brexit

[Oracle]

which has declined recently.


you keep on saying this, in various forms, but have never backed it up with anything.


you're conflating the surplus with trade with the EU


who mentioned the Euro?

I keep showing you the target2 balances which show the capital flows. What else do you want?it is the ECBs own records of money flooding to germany, and out of italy unsustainably. Do you understand settlement in the eurozone?

http://www.eurocrisismonitor.com/img...0-%20large.jpg

The surplus of trade with EU is many times bigger than contribution and is clearly toxic to the EU. It doesnt matter whether it drifts up and down, it is unsustainable. It forces debts to rise in the deficit countries.

And it is all about the euro, that stops the normal adjustment for it, the massive capital flows and also gives Germany an unfair advantage outside the EU by averaging down its exchnage.

It cannot end well. The only question is when it falls over.