Keynesian economics

Turkey's current account posts $1.23 bln deficit in Feb

Turkey's current account balance posted a deficit of nearly $1.23 billion in February, according to official figures released on April 13.

The deficit was $117 million in the same period last year, said the Central Bank.

The bank's balance of payments figures showed the country's 12-month rolling surplus amounted to $6.13 billion.

Varoufakis: Greece reliving the Great Depression

Never one to eschew the dramatic, FinMin Yanis Varoufakis likened the current situation in (still) recession-plagued Greece with the Great Depression of the 1930s.

In his speech at the Greek-French Chamber, as long as a political solution is delayed, the recession will wear down the common currency and turn the peoples of Europe against each other.

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