![Germany's record trade surplus is a bigger threat to euro than Greece Germany's record trade surplus is a bigger threat to euro than Greece](https://www.cer.eu/sites/default/files/styles/spotlight/public/images/spotlight/in_the_press/2015/german_flag_sl-1430900519.jpg?itok=_PCiWZcW)
Germany's record trade surplus is a bigger threat to euro than Greece
"Their surplus should be treated in the same way as the southern deficits were treated earlier, as a comparable threat to eurozone stability. What is so worrying is that the surplus would normally be falling rapidly at this stage of the economic cycle," he said. ..."Germany should cut taxes on low incomes and VAT. It has plenty of fiscal scope to do so. It chooses not to," said Mr Tilford.