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We study the relationship between the budget balance and the current account balance for European Union(EU) countries … that the relationship is bi-directional for the EU panelas a whole. Furthermore, we find that in Eurozone countries, before …
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The lesson of the sovereign debt crises of the 2010s, and of the outbreak of the COVID-19 pandemic is that EMU irreversibility, if not to remain a wishful statement in the founding treaties, necessitates to be completed by carefully designed ramparts for extraordinary times beside regulations...
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