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What the hell? Who do you think managed to maintain the Euro as a going concern? And don't forget Germany suffered quite a lot after the introduction of the E
by benj111 7y ago
What the hell?
Who do you think managed to maintain the Euro as a going concern?
And don't forget Germany suffered quite a lot after the introduction of the Euro, and it didn't really have anyone else to bail it out.
Edit: In the first paragraph in referring to the aftermath of the financial crisis, when PIIGS was an acronym, and France wasn't looking too great either.
And in the second paragraph in referring to immediately after the introduction of the Euro. The Euro appreciated, German exports lost competitiveness whilst it lost the power to devalue its currency. It managed to increase its productivity per worker though and has reaped the benefits since. It too has seen the downsides of not having control of its own currency.