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Of course, it may well be that that was the low-hanging fruit and they're about to hit bedrock [Jake's Mixed Metaphor TechnologyTM]
- Jake Friends come and go. Enemies accumulate.
Considering that Greece has 15% of GDP from tourism, is not current accout more relevant then trade balance?
Then instead of a trade deficit of 23 billion USD in 2010 (43 billion 2009), we are looking at 17 billion current account deficit in 2010 (34 in 2009). Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se
Current accounts, on the other hand, include interest payments, some of which would, obviously, cease. Unless I am mistaken on the English translations of the terminology.
Note also that less than half of that 15%GDP for tourism is foreign tourism. And while foreign tourism could indeed boom under a cheaper currency, domestic tourism would tank (actually is tanking already) The road of excess leads to the palace of wisdom - William Blake
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