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Exporters: We don't need the euro

The Local · 9 Nov 2011, 13:50

Published: 09 Nov 2011 13:50 GMT+01:00

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"What is important for us is the free market, we do not necessarily need a common currency," he told the foreign press association in Berlin. "Is there life for Germany after the euro? Yes there is." Exporters "can live without the euro," he added.

Börner was speaking one day after official data showed that record exports had pushed Germany's trade surplus to a three-year high in September, indicating the country was bearing up fairly well in the eurozone debt crisis.

Germany, the world's number two exporter after China, exported goods worth a total €91.3 billion ($124.9 billion) in September, 0.9 percent more than in August and the highest level since unification.

The BGA represents Germany's exporters, mainly small- and medium-sized firms. Börner said that for those companies, "the amount exported to eurozone countries does not depend on the euro itself but on the free market and the absence of customs duties."

Börner's remarks stood in stark contrast to the line taken by German Chancellor Angela Merkel and other political leaders, who argue that "everything must be done" to protect the eurozone from falling apart.

Consultancy group McKinsey said in a recent study that two-thirds of the economic growth in Germany in the last decade could be put down to the introduction of the euro.

"An Italy which fails in the euro is just as disastrous as an Italy that fails outside of the euro," Börner said, voicing scepticism at Rome's ability to implement needed economic and fiscal reforms.

France also faces "a big problem of growth and productivity," he added.

But he said that while the end of the euro would certainly pose a competitiveness problem for German companies, "with a reasonable monetary policy, and by agreeing with the unions," they could be overcome.

"A good entrepreneur must think of a Plan B," Börner said, stressing he did not want to see an end to the single currency.

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But, if the euro did fail, Germany would probably join a bloc of other northern European countries with similar economic profiles such as Austria, Finland, the Netherlands and Denmark, he said.


The Local (news@thelocal.de)

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Your comments about this article

12:17 November 10, 2011 by Frederic 53
Hello.I don't need the Euro too.Give me my beloved D Mark back.
13:47 November 10, 2011 by jg.
Germany developed her reputation as a major world exporter and a strong economy whilst using the DM, long before the advent of the Euro.
12:42 November 11, 2011 by coffejohn
Before a dam fails it develops micro cracks which expand and expand until-!

If a new trading block develops in the north what the betting that the UK joins?
17:42 November 11, 2011 by Bigbobswinden
A trading block yes, that is what we in Britain voted for, a political, legal or monetary block just give the corrupt leaders freedom to do as they like with no democratic control.
11:43 November 13, 2011 by storymann
Germany has benefitted from the Euros stability against other currencies, if Germany was to take up the D-mark again the rate would be very unfavorable for exports.

The nations that can not manage their debts should give up the Euro and devaluate their former currencies.These nations will never be able to adopt the Merkosy standards set forth by Germany and France.These two nations in the future will have to stand behind the ECB when all those junk bonds are due,
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