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Portugal has a structural negative trade balance with the rest of the Eurozone, and is attempting like everyone else to grow it nominal GDP at a moderate rate. Now consider, if the economy is leaking money through trade and it wants to increase GDP, where is this going to come from? A combination of public and private deficit:

And the U.S. says, "I call him 'Mini Me'."

by rifek on Wed Jan 12th, 2011 at 08:51:21 AM EST
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