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Well, that might have meant that, in the existing framework, the periphery should have been running large surpluses to prevent the external imbalances.

That's the IMF recommendation.

It only works if you crater your economy so hard that it stops importing altogether.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Jun 2nd, 2011 at 02:46:40 PM EST
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