> but when the Euro falls the attractiveness of its exports increases. They're talking about manufacturing. Energy input costs are still denominated in dollars

> but when the Euro falls the attractiveness of its exports increases. They're talking about manufacturing. Energy input costs are still denominated in dollars/rubles, so those exports will still be pretty expensive if the factory doors are to remain open. A falling euro will only make the labor portion of cost inputs decline. And because labor needs to eat, even those input costs will be rising as well. Will a falling euro help? Sure. But probably not as much as you think.