EFTA Document EFTA01461074

9 March 2015 Special Report Euroglut here to stay. trillions of outflows to go Metamorphosis into global lender far from completed At present, the euro area owes the world roughly 10% of its GDP. In other words, foreigners own more European assets than European investors do abroad. In theory, persistent current account surpluses will eventually offset this debt and turn the Eurozone into a net creditor. Once a mature lender, Europe's assets abroad will yield stable investment income on th