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If one looks closely, Spain was doing more things right than other Euro-countries and the US.  Had they avoided the debt fueled housing construction and inflation boom along with all the immigrant construction labor, the country would be in reasonably good shape today.  
by Marie2 on Tue Sep 4th, 2012 at 06:18:10 PM EST
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As long as they would still have been a current account deficit country, their state debt would still have been speculated against.

Had they not entered the euro on the other hand...

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by A swedish kind of death on Wed Sep 5th, 2012 at 02:36:06 PM EST
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