They must reduce domestic demand. They must become more competitive and they must increase their exports. But this position has not gone uncontested. Indeed, a number of renowned economists take a different view. They fear that it would be too much of a burden for the deficit countries alone to adjust.
They consequently suggest that surplus countries should shoulder at least part of the burden. To avoid confusion, it is important to make a distinction at this point. A distinction between the adjustment as such and the burden it entails. Only the burden can be shared. I think most people would agree that the adjustment itself has to take place in the deficit countries.