Eurozone trade deficit rising
November 18, 2008 at 06:59 AM EST
[Skip to the end] This is not a good sign given their monetary arrangements with no federal fiscal authority to incur the corresponding budget deficits, public and private. And the unlimited Fed swap lines to the ECB could now be further increasing eurozone foreign currency debt, and funding imports with fresh ‘cheap and easy’ dollar debt. Euro-zone trade [...]