World Economic Outlook database; then download data on the current account balance as a percentage of GDP for Greece
Go to the IMF website at www.imf.org and find the World Economic Outlook database; then download data on the current account balance as a percentage of GDP for Greece, Spain, Portugal, Italy, and Ireland. Explain what happens to the current accounts of these countries after 2009 during the euro crisis. Analyze two reasons why these countries struggled to provide stability with their financial and monetary systems.
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The Euro is a currency that was introduced in the year 2002 as the single common currency that can be used all over the European region. This ultimately put together one of the largest trading bloc’s in the world. This however was short lived since in the year 2008 several countries within the European Union accumulated a lot of debt and deficits that could not be sustained without external help. This ultimately led to the euro crisis in2009 which in a broader sense brought to light just how interdependent the European Union………………….
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