November 18, 2011

Will Europe's North Pay Politically for South's Mess?

Jeff Simpson, Globe and Mail

AP Photo

The southern European countries (and Ireland) have massive current account deficits paid for through the European Central Bank that the northern Europeans have financed. The sums since the summer are staggering, an estimated €630-billion.

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TAGGED: Finland, Germany, Netherlands, France, Italy, Greece, Eurozone

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