61. It said the world economy was expanding well, helping German export sales even if the mark is strong. 62. So from the outset, I have urged that German export credit guarantees should remain available for exports to Indonesia. 63. The deliveries by the Hamburg-based firm WET violated German export regulations. 64. The German Bundesbank remained tightlipped about the situation, which is undercutting the German export industry. 65. The more expensive mark hurts German exports, which directly involve about one third of German jobs. 66. The stronger dollar will make some imports more expensive in Germany but also tend to make German exports cheaper. 67. The recent rise of the U.S. dollar against the German mark is good for German exports, because it makes them cheaper on the world market. 68. The sinking euro, which is pegged to the German mark as part of European Monetary Union, makes German exports cheaper and more attractive overseas. 69. The two were originally found guilty of breaking German export laws with deliveries that included devices for launching Scud missiles and parts for manufacturing explosives or chemical weapons. 70. The undervalued dollar had depressed German exports for the past three years. |