The political cost of Germany's uber-competitiveness

The frugal and efficient mentality that has driven Aldi's retail success also drives Germany's attitudes towards economic policy, but it is winning the nation few friends in the eurozone.

At first glance, the following two news stories may seem like they have nothing to do with each other except that they happened over the past few days. On Monday, the International Monetary Fund once again admonished Germany for being too competitive, as demonstrated by its enormous current account surplus. Cyclically adjusted, it now stands at 8.25 per cent of GDP. Also on Monday, we heard that Karl Albrecht, one of the two founders of the Aldi discount empire, had died at the age of 94.

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