OECD Economics Department Working Papers

Resolving and Avoiding Unsustainable Imbalances in the Euro Area

DOI:https://doi.org/10.1787/5km33sv3jn8s-en

Some euro area countries accumulated large and persistent external imbalances during the upswing, revealing important weaknesses in the macroeconomic management of the monetary union. Greece, Ireland, Portugal and Spain ran large current account deficits by historical standards, while Finland,...



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