two deficits is asymmetric and the negative impact of the recent Eurozone banking and sovereign debt crisis on the current … positive impact of the budget balance on the current account balance is higher in the cases of non-Eurozone countries, high … budget deficit countries, and low exports countries, whereas it is lower in the cases of Eurozone countries, low budget …

balance on the current account balance is greater in Eurozone countries, for those countries with an average current account …%. Conversely, in non-Eurozone countries, after 2010, the impact of the fiscal balance on the current account balance is less …