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Before the crisis began, countries like Greece and Spain that had large trade deficits would finance their shortfalls through commercial banks and capital markets.
Before the crisis began, countries like Greece or Spain that had big trade deficits would finance their shortfalls through commercial banks and capital markets.
Based on previous episodes of debt reduction, it reckoned that once deleveraging began, countries would on average spend the next six to seven years whittling those debt ratios back by around 25%.In this section You ain't seen nothing yet Split personality More contortions A pause or a plunge?
Since the start of 2008, when the Great Recession began, countries around the world have already imposed at least 443 measures to block imports, according to the Center for Economic Policy Research.
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