One of the symptoms of the present economic and financial crisis in Portugal is a shortage of bank notes in the country. The European Central Bank decides the global amount of notes to be printed in the eurozone. It then allocates a fraction of that amount to be printed in each member-country (euro notes printed in Portugal have serial numbers started with M for Casa da Moeda). .
Portugal is running a huge current account deficit, that is, it is buying from abroad much more than it sells. Thus, there is a a big net outflow of euro notes going abroad and a shortage of them in the country.
Portugal is running a huge current account deficit, that is, it is buying from abroad much more than it sells. Thus, there is a a big net outflow of euro notes going abroad and a shortage of them in the country.
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