Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
All the countries under attack or being ECB'ed (except Ireland which it has been duly noted innumerable times is a different story) are internal CA deficit countries.

That their deficits are "small" (by what metric?) does not matter when nominal growth has flatlined. In the absence of nominal growth, any CA deficit is unsustainable.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Sep 7th, 2011 at 08:56:36 AM EST
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