The European Union is progressively reducing its current-account surplus and boosting domestic investment. However, the US is expected to ignore global economic imbalances, including its own, at the upcoming G7 Summit.

<p>Slowly but surely, the European Union is taking steps to reduce its current-account surplus and direct more of its substantial savings into domestic investment and growth. Unfortunately, at the G7 Summit in France this month, the United States will refuse to address global imbalances, including its own.</p>