EFTA Document EFTA01461079

9 March 2015 Special Report: Euroglut here to stay: trillions of outflows to go current account shows that despite two decades of large surpluses. Finland never turned into a mature credit economy. The peak NIIP of 15% in 2010 failed to generate considerable investment income to stabilize the current account against trade deficits. If Europe is to live off its foreign assets one day, it will probably need to accumulate a much larger NIIP, similar to Japan, Norway, or Switzerland. Conclusi