surplus esse delendam
Spain has no money. There is no growth in domestic demand and as Germany(tm) is not buying more in rest of Europe there ist only one hope…. trade with the rest of the world. [BTW – all others with problems including USA also. And that is the birthday of liberal Keynesianism. If the one with money do not spent this, others have to lend. And the last lenders are countries. Haha. Only devils are thinking about taxation.]
As we can see the exports grow substantially and the balance does better – even it is a long way.
ceterum censeo: Euro-Zone-Domestic demand coming out of the surplus-countries would have to take place for a fast and solid recovery. [surplus esse delendam]