Agreed Richard. Much of the Eurozone runs a current account surplus which measures the excess of savings over investment of about 2.5% of GDP. Investment is low, because of lack of aggregate demand, and despite the cost of borrowing being at the zero lower bound.
Moazam
Moazam Mahmood
Deputy Director
Research Department ILO
Bureau 8-36
4 Route des Morillons
CH-1211 Geneve 22
Moazam
Moazam Mahmood
Deputy Director
Research Department ILO
Bureau 8-36
4 Route des Morillons
CH-1211 Geneve 22
