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But using Euro suddenly increased labour cost, they lost a critical advantage.
by ejanus 5y ago
But using Euro suddenly increased labour cost, they lost a critical advantage.
- elkos 5y agoA person working in Greece or Portugal isn't payed the same amount of money as one in Germany or the Netherland nor the cost of living is the same. In some cases small "poorer" countries might actually have a critical advantage. In labour intensive industries that have Northern European clients it can be impactful. Of course there are several othet factors that have to be taken into account though.