What Makes Greece Special?
The news from Greece these days has been dominated by the announcement that the government achieved a primary budget surplus in 2013. But another, much more important news item has received much less attention: Greece exported less in 2013 than in 2012.
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BRUSSELS – The euro crisis seems to be largely over. Risk premiums continue to fall across the board, and two countries – Ireland and Portugal – have already exited their adjustment programs. They can now finance themselves in the market, and their economies seem to have started growing again.