Angus Mcdougall - Comments

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Europe's Greatest Cover-Up Could Mean The Death Of The Euro
9 years ago

sorry, but Portugal since the financial crisis has gone from net importer to net exporter. when buyer credit is withheld by the absence of consumer credit from Portuguese national banks, imports quickly slow down. As domestic demand slumps for goods made within Portugal, manufacturers are driven to find export markets. The article above fails to relate to how real economies respond to real market conditions and the withdrawal of excess credit.

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