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That can't be right. The value of the euro is depressed, to Germany's advantage, by the other euro members. How is that not going to affect the success of the G
by Luc 12y ago
That can't be right. The value of the euro is depressed, to Germany's advantage, by the other euro members. How is that not going to affect the success of the German economy?
I am reading Varoufakis' Minotaur book at the moment. I am about halfway in and I haven't yet gone 'hang on a sec, that can't be right!'. So he's got that going for him.
- lispm 12y ago> How is that not going to affect the success of the German economy? The Germany economy is successful if the Euro is low and it is successful when the Euro is high. It makes no difference. The companies will adjust to what ever Euro exchange rate there is. It's just that Germany has invested a lot into building new markets (for example Eastern Europe, which is just next to Germany), less so into consumption or Trillion $ wars in Iraq.