Darvas, Zsolt, (2012), ‘Intra-euro rebalancing is inevitable but insufficient’, www.bruegel.org, 5 Σεπτεμβρίου.
Greece, Portugal and Spain face a serious risk of external solvency due to their close to minus 100 percent of GDP net negative international investment positions, which are largely composed of debt. The perceived inability of these countries to rebalance their external positions is a major root of the euro crisis.