The COVID-19 crisis will certainly cause a fall of global trade. Why Germany is upset with...

The COVID-19 crisis will certainly cause a fall of global trade.

Why Germany is upset with Spain with respect of how Spain managed trade surplus and government surplus money? Present specific data to support your argument.

Expert Solution

Ans.

Germany is upset with Spain with respect of how Spain managed trade surplus and government surplus money because , Spain is proposing to EU governemnts for a Euro 1.5 Trillion recovery fund for financing the recovery from the COVID pandemic and economic crisis. Spain want this fund to be issued as grants, and issue perpetual bonds . Also their proposal is that all EU countries should mutually bear the cost of crisis. Italy has supported Spain while Germany is opposing this move. Germany is not in favor of issuing the mutual debt. Spain has put the proposal that the money should be given as grant and not as loan to avoid the debt for already burdened economies.

Rahul Sunny answered 2 years ago

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