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EC eye on Germany

THE European Commission has decided to prepare an in-depth analysis of Germany's high current account surplus to find out if it is a sign of a serious imbalance in Europe's biggest economy.

Germany has had a current account surplus in excess of 6pc of its gross domestic product since 2007. In September the surplus reached €19.7bn, and was the biggest in the world. "A high surplus does not necessarily mean that there is an imbalance," EC President Jose Manuel Barroso (above) said.