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    Norway.

    Scandinavian countries top the ranks of surplus countries in Europe. Norway had the most surplus in Europe with about 18% of GDP followed by Finland, Denmark, Luxembourg and Sweden. The countries with the highest deficits were Ireland, the UK and Romania. Deficits in Ireland and UK were more than double the maximum EU requirement. Many of the Eastern European countries such as Latvia, Estonia, and Lithuania have high deficits. The economy of these Baltic countries fell heavily last year during the height of the credit crunch.

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