4 ms·
well, that's debatable. It annoys normal folks (who have to exchange money when going abroad) and businesses (who have to hedge against exchange rate changes).
by yread 15y ago
well, that's debatable. It annoys normal folks (who have to exchange money when going abroad) and businesses (who have to hedge against exchange rate changes). And in the end when shit goes down in Hungary it takes CZK down too.
- afterburner 15y agoThe upside is they can devalue their currency to address trade balance and solvency issues. Something Ireland, Greece, and Spain can't do. It beats the pants off trying to lower wages.
- yread 15y agoSure. Devaluation is a whole lot of pain and a political suicide, though
- afterburner 15y agoThe value of currencies goes up and down according to much more than political whims. It's also good for exports, which the Czech Rep is strong in.