Germany Can't Escape Its Own Crushing Austerity As Exports Fall And Imports Tank

While the implosion of Cyprus focused the world's eyes on the European sovereign debt crisis once again, a deeper problem lurks in the background: German weakness. Trade data released Tuesday showed exports, the country's main economic driver, fell in February, while imports contracted dramatically as domestic demand wanes. The release coincided with a visit from U.S. Treasury Secretary Jack Lew, who diplomatically clashed with his German counterpart, asking European policymakers to engage in st...