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The 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 of
by afterburner 15y ago
The 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.