Proponents of a symmetrical approach say that surplus countries must also act. They claim that these countries have to boost domestic demand and, consequently, imports by using fiscal policy stimulus. It is also argued that surplus countries should raise wages, which would further increase domestic demand and at the same time reduce their competitiveness.
However, when taking a closer look at these proposals, it becomes apparent that they are based on invalid assumptions. To demand measures that would boost imports neglects the fact that trade flows are highly diversified. Given the current trade structure, an increase in German imports by 10% would improve the current account balance in Spain, Portugal and Greece by a mere 0.25 percentage point.