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Actually current accounts balance includes balance in services (that means tourism and shipping as well if I'm not mistaken - a big deal), incomes, capital transfers etc. Here's the Bank of Greece's latest (January 11) report on the current account balance.

Note also that less than half of that 15%GDP for tourism is foreign tourism. And while foreign tourism could indeed boom under a cheaper currency, domestic tourism would tank (actually is tanking already)

The road of excess leads to the palace of wisdom - William Blake

by talos (mihalis at gmail dot com) on Tue Apr 5th, 2011 at 08:11:59 PM EST
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