Excessive current-account deficits have taken the blame for many currency crises, from Mexico's in 1994 to Thailand's last year.
In September the European Commission proposed German-inspired rules that would limit "macroeconomic imbalances" such as excessive current-account deficits, in addition to budget deficits and public debt.
Countries like Germany with excessive current account surpluses had failed to stimulate domestic demand, and their unbalanced economic strategy had caused problems for the whole euro area, the report said.
First, it is too dependent on foreign demand, reflected in an excessive current-account surplus of 5% of GDP last year, while consumer spending is feeble (one reason why enthusiasm for the government is low too, see article).
This time it started with one paragraph in the United States Treasury Department's semiannual report on the world economy, which accused Germany of running an excessive current account surplus and putting deflationary pressure on the world economy.
In England and Wales, excessive drinking accounted for 1.5% of all deaths.
Intramuscular myxoma is a benign neoplasm arising from fibroblasts, which produce excessive mucopolysaccharide, accounting for their complex appearance on US and heterogeneous signal on MR imaging.
Addressing excessive current account imbalances.
The emergency manager, Kevyn Orr, issued on Thursday the preliminary results of a three-month investigation that identified questionable actions, including diversions of pooled money into individual accounts, excessive real estate investments that lost millions of dollars and "disconcerting administrative protocols" for the handling of health care and unemployment benefits.
Some experts believe that this excessive oil speculation accounts for 40% of the price of oil.
