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Indeed. The original comment should have said "current accounts deficit" not "net importer." After all, as long as one is not analysing a default scenario, it's the current accounts that's the important variable.

My bad.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Jun 2nd, 2011 at 10:57:31 PM EST
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Until some years ago Germany either had current account deficit (much of the nineties) or a balanced current account or a small surplus.
by IM on Mon Jun 6th, 2011 at 06:25:01 AM EST
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