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How long can the German recovery “miracle” last with the euro more than 30% higher than it was just a few months ago?It’s already sliding away. Exports have fallen for the second straight month, according to Bloomberg, no doubt a result of the ECB’s inability (or lack of desire) to weaken the euro. Combine the stronger euro with the austerity seen in the rest of Europe — which will sap demand — and it’s really difficult to see where robust growth comes from.
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