Recovery Mirage in Spain Dissipates Into Ashes
MishTalk
AUGUST 18, 2014
Spain is again dependent on foreign financing. Via translation from Libre Mercado, Spain Again Borrows Abroad to Finance Consumption. Between 2002 and 2007, Spain was amassing a growing external deficit, as more and sell less abroad (exports) and bought more (imports), bringing its foreign debt grew.
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