Friday, September 16, 2005

MORE BAD economic news for Spain:
Spain's current-account balance, which totals income from and expenses of foreign economic relations, showed a deficit of 33.1 billion euros in the first six months of 2005, a 77% increase over the deficit in the first half of 2004, according to the Bank of Spain. These changes are due mostly to the increase of the trade deficit and, to a lesser degree, the increase of the interest deficit, and the reduction in the services surplus and that of bank deposits.

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