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That's a really unfortunate choice of breaks for quoting Krugman. You quote
Greece

Spain and Ireland had low debts and budget surpluses on the eve of the crisis.

Krugman says
let's look at the full list of countries that got into trouble because of high debts accumulated before the crisis, as opposed to those that have developed large deficits as a consequence of the crisis. Here's the full list:
Greece
Spain and Ireland had low debts and budget surpluses on the eve of the crisis.


Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Mon Aug 29th, 2011 at 02:18:53 AM EST
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